v3.26.1
Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Recent accounting prounouncements
Treasury Stock
During 2026, the Company repurchased shares of its common stock under the 2026 Stock Repurchase Program, as defined in note 10. The Company accounts for repurchased shares that have not been retired as treasury stock and records such shares at cost as a reduction of stockholders' equity. Treasury shares are excluded from shares outstanding for purposes of calculating earnings per share. Incremental direct costs associated with the acquisition of treasury shares are included in the cost basis of the shares acquired. See note 10 to the Company's condensed consolidated financial statements for a discussion of the 2026 Stock Repurchase Program.
Recently Adopted Accounting Pronouncements
No accounting pronouncements adopted during the six months ended June 30, 2026, had a material impact on the Company's condensed consolidated financial statements.
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued new guidance that requires disclosure of disaggregated information about certain income statement expense line items in the notes to the financial statements for both annual and interim periods. The guidance will be effective for the Company's fiscal year ending December 31, 2027, and can be applied prospectively or retrospectively, with early adoption permitted. The Company is currently evaluating the effect of the guidance, including the potential impact on its financial statement disclosures.
In September 2025, the FASB issued new guidance to modernize the accounting for internal-use software to current development practices, clarify when to begin capitalizing costs and enhance disclosure requirements. The guidance will be effective for the Company's fiscal year ending December 31, 2028, and can be applied prospectively or retrospectively, with early adoption permitted. The Company is currently evaluating the effect of the guidance, including the potential impact on its financial statement disclosures.