v3.26.3
Recently Issued Accounting Pronouncements
 9 Months Ended
Sep. 30, 2026
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements
Date IssuedReferenceDescriptionExpected Adoption Date and MethodFinancial Statement Impact
May 2026ASU 2026-02: Environmental Credits and Environmental Credit Obligations (Topic 818)The amendments in this ASU establish guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations.December 2027, Prospective adoptionCurrently under evaluation, but not expected to be material
April 2026ASU 2026-01: Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred StockThe amendments in this ASU clarify how issuers initially measure paid-in-kind ("PIK") dividends on equity-classified preferred stock by requiring issuers the use of the PIK dividend rate stated in the preferred stock agreement.January 2027, Prospective adoptionCurrently under evaluation, but not expected to be material
July 2025ASU 2025-05: Financial Instruments – Credit Losses (Topic 326)The amendments in this ASU create a practical expedient for use when estimating expected credit losses for current accounts receivable and current contract assets that allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset.
January 2026, Prospective1
No material impact
November 2024ASU 2024-03: Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesThe amendments in this ASU require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. The amendments require that at each interim and annual reporting period an entity:
1) disclose the amounts of purchases of inventory, employee compensation, etc., recognized as part of oil- and gas-producing activities included in each relevant expense caption;
2) include certain amounts that are already required to be disclosed under current GAAP in the same disclosures as the other disaggregation requirements;
3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and
4) disclose the total amount of selling expenses and, in annual reporting periods, an entity's definition of "selling expenses."
January 2027, Prospective or retrospective 2
Currently under evaluation, but not expected to be material
1Adopted during the first quarter of 2026.
2Management has established an implementation team to evaluate and implement the ASU 2024-03 related to disaggregation disclosures. This team has outlined draft disclosures for management and taken steps to ensure any additional information needed to present updated disclosures is available. The impact on the financial statements is not expected to be material.
Since management is continuing to evaluate the impacts of the above standards, disclosures around these preliminary assessments are subject to change.