v3.26.3
Accounting Changes and Error Corrections (Policies)
9 Months Ended
Sep. 30, 2026
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncements, Policy Recent Accounting Pronouncements
Recently Issued Accounting Pronouncements
In May 2026, the FASB issued ASU 2026‑02, Environmental Credits and Environmental Credit Obligations (Topic 818), which establishes comprehensive guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The ASU requires entities to recognize environmental credit assets when it is probable that the credits will be used, transferred, or otherwise realized and to recognize liabilities for environmental credit obligations when events occur on or before the reporting date which result in an environmental credit obligation. The ASU stipulates that measurement is based on either the cost of credits held or the fair value of credits needed to settle the obligation. The amendments are effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact this amendment will have on our consolidated financial statements.

In September 2025, FASB issued ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606). This ASU expands the scope exception for certain contracts not traded on an exchange to include contracts for which settlement is based on operations or activities specific to one of the parties to the contract. The ASU is effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. We are currently evaluating the impact this ASU will have on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. We are currently evaluating the impacts this amendment will have on our internal-use software capitalization policy. See Note 2 to the Company’s Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2025, for a discussion of the impact of this ASU.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). We are currently evaluating the impacts this amendment will have on our required disclosures. See Note 2 to the Company’s Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2025, for a discussion of the impact of this ASU.