Recent Accounting Pronouncements |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Accounting Changes And Error Corrections [Abstract] | |
| Recent Accounting Pronouncements | NOTE 2. _________________ RECENT ACCOUNTING PRONOUNCEMENTS FUTURE ACCOUNTING CHANGES EXPENSE DISAGGREGATION DISCLOSURE On November 4, 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses” which requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The new guidance may be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact the new guidance will have on its disclosures. GOVERNMENT GRANTS On December 4, 2025, the FASB issued ASU 2025-10, “Accounting for Government Grants Received by Business Entities”, to establish guidance on the recognition, measurement, and presentation of government grants received by business entities. The new guidance leverages the principles in the accounting framework for government assistance in IFRS, specifically IAS 20, “Accounting for Government Grants and Disclosure of Government Assistance”. The new guidance will be effective for calendar year-end public business entities in the 2029 annual period (including interim periods within), with early adoption permitted. The new guidance is not expected to significantly change the Company’s current accounting for incentives from federal, state, provincial, and local governments. INTERIM REPORTING On December 8, 2025, the FASB issued ASU No. 2025-11 “Interim Reporting (Topic 270): Narrow-Scope Improvements”. The new guidance clarifies the applicability of Topic 270 and the form and content of interim financial statements. In addition, it requires entities to disclose material events occurring since the last annual reporting period. The new guidance will be effective for interim periods beginning January 1, 2028, and can be applied on a prospective or retrospective basis. The Company is evaluating the disclosure impact; however, the new guidance will not have an impact on the Company’s consolidated financial position, results of operations or cash flows. |