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NEW ACCOUNTING STANDARDS
 6 Months Ended
Jun. 30, 2026
Accounting Standards Update and Change in Accounting Principle [Abstract]  
NEW ACCOUNTING STANDARDS NEW ACCOUNTING STANDARDS
Adoption of New Accounting Standards

Accounting Standards Updates (“ASUs”) adopted during 2026 had no material effect on our consolidated financial statements or financial statement disclosures.

Accounting Standards Issued But Not Yet Adopted

ASU 2024-03, Disaggregation of Income Statement Expenses (“DISE”). In November 2024, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard to improve the disclosures about an entity’s expenses and address requests from investors for more detailed information about the types of expenses included in commonly presented expense captions. The new standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with retrospective application permitted. We are assessing the effect on our consolidated financial statement disclosures; however, adoption will not affect our consolidated income statements, balance sheets, or statements of cash flows.

ASU 2026-02, Environmental Credits and Environmental Credit Obligations. In May 2026, the FASB issued a new accounting standard to provide guidance on the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The new standard is effective for interim and annual reporting periods beginning after December 15, 2027, with retrospective application required. We are assessing the effect on our consolidated financial statements and financial statement disclosures.

All other ASUs issued but not yet adopted were assessed and determined to be not applicable or are not expected to have a material effect on our consolidated financial statements or financial statement disclosures.