v3.26.1
New Accounting Pronouncements
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
New Accounting Pronouncements New Accounting Pronouncements
The following are new accounting pronouncements issued by the Financial Accounting Standards Board which will be adopted in future periods:
Accounting Standards UpdateSummary of GuidanceFinancial Statement Impact
Disaggregation of Income Statement Expenses

Issued November 2024
•Requires certain expense captions presented on the face of the income statement to be disaggregated into specific categories in the notes to the financial statements, including a) employee compensation; b) depreciation; and c) intangible asset amortization. A description of the amounts that are not separately disaggregated should be disclosed.
•Also requires disclosure of the total amount of selling expenses and the entity's definition of selling expenses.
•Effective for annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028, with early adoption permitted.
•The new guidance should be applied prospectively, with a retrospective option.
•While the adoption of this guidance will result in changes to existing disclosures, it will not have any impact on our financial position or results of operations.
Targeted Improvements to the Accounting for Internal-Use Software

Issued September 2025
•Improves the operability of the software accounting guidance by removing all references to software development project stages. Therefore, an entity is required to capitalize software costs when a) management has authorized and committed to funding the software project and b) it is probable that the project will be completed and the software will be used to perform the function intended.
•Also clarifies that the disclosures required for property, plant and equipment must also be provided for capitalized internal-use software costs.
•Effective for annual and interim periods beginning January 1, 2028, with early adoption permitted.
•The new guidance may be applied either retrospectively, prospectively to software costs incurred after the adoption date, or on a modified prospective basis.
•While the adoption of this guidance will result in changes to existing disclosures, we are currently evaluating the impact it will have on our financial position or results of operations.
There have been no additional accounting pronouncements issued that are expected to have a material impact on our consolidated financial statements.