XML 18 R9.htm IDEA: XBRL DOCUMENT v3.22.2.2
Basis Of Presentation
 9 Months Ended
Sep. 30, 2022
Basis Of Presentation [Abstract]  
Basis Of Presentation
2.
 
BASIS OF PRESENTATION
The unaudited
 
consolidated
 
financial statements
 
of the
 
Company
 
as of
 
September
 
30, 2022
 
and December
 
31,
2021 and for the three
 
and nine months ended
 
September 30, 2022 and
 
2021 include all adjustments,
 
consisting
of
 
normal
 
recurring
 
accruals,
 
which,
 
in
 
the
 
opinion
 
of
 
management,
 
are
 
necessary
 
for
 
a
 
fair
 
statement
 
of
 
the
results
 
on
 
an
 
interim
 
basis.
 
Certain
 
financial
 
information,
 
which
 
is
 
normally
 
included
 
in
 
annual
 
financial
statements
 
prepared
 
in
 
accordance
 
with
 
accounting
 
principles
 
generally
 
accepted
 
in
 
the
 
United
 
States
 
of
America (“GAAP”),
 
has been
 
omitted since
 
it is
 
not required
 
for interim
 
reporting purposes.
 
The December
 
31,
2021
 
consolidated
 
balance
 
sheet
 
data
 
was
 
derived
 
from
 
audited
 
financial
 
statements
 
but
 
does
 
not
 
include
 
all
disclosures
 
required by
 
GAAP.
 
The results
 
for the
 
three and
 
nine months
 
ended September
 
30, 2022
 
and 2021
are
 
not
 
necessarily
 
indicative
 
of
 
the
 
results
 
for
 
a
 
full
 
year.
 
These
 
financial
 
statements
 
should
 
be
 
read
 
in
conjunction with the audited consolidated
 
financial statements and
 
notes thereto for
 
the years ended December
31, 2021, 2020 and 2019, included in the Company’s
 
most recent Form 10-K filing.
The Company
 
consolidates
 
the results
 
of operations
 
and financial
 
position of
 
all voting
 
interest
 
entities ("VOE")
in
 
which
 
the
 
Company
 
has
 
a controlling
 
financial
 
interest
 
and
 
all
 
variable
 
interest
 
entities
 
("VIE")
 
in
 
which
 
the
Company is considered to be the primary beneficiary.
 
The consolidation assessment, including
 
the determination
as
 
to
 
whether
 
an
 
entity
 
qualifies
 
as
 
a
 
VIE
 
or
 
VOE,
 
depends
 
on
 
the
 
facts
 
and
 
circumstances
 
surrounding
 
each
entity.
 
The preparation
 
of financial
 
statements
 
in conformity
 
with GAAP
 
requires
 
management
 
to make
 
estimates
 
and
assumptions
 
that
 
affect
 
the reported
 
amounts
 
of assets
 
and liabilities
 
(and disclosure
 
of contingent
 
assets
 
and
liabilities) at the date of the financial
 
statements and the reported
 
amounts of revenues and expenses
 
during the
reporting period.
 
Ultimate actual results could differ,
 
possibly materially,
 
from those estimates.
 
All intercompany accounts
 
and transactions have been eliminated.
 
Certain
 
reclassifications
 
and
 
format
 
changes
 
have
 
been
 
made
 
to
 
prior
 
years’
 
amounts
 
to
 
conform
 
to
 
the
 
2022
presentation.
Application of Recently Issued Accounting
 
Standard Changes.
 
The Company did
 
not adopt any
 
new accounting standards
 
that had a
 
material impact during
 
the three and
 
nine
months ended
 
September 30,
 
2022.
 
The Company
 
assessed the
 
adoption impacts
 
of recently
 
issued accounting
standards
 
by the
 
Financial Accounting
 
Standards
 
Board on
 
the Company’s
 
consolidated
 
financial statements
 
as
well as
 
material updates
 
to previous
 
assessments,
 
if any,
 
from the
 
Company’s
 
Annual Report
 
on Form
 
10-K for
the
 
year
 
ended
 
December
 
31,
 
2021.
 
There
 
were
 
no
 
accounting
 
standards
 
issued
 
in
 
the
 
nine
 
months
 
ended
September 30, 2022, that are expected to
 
have a material impact to Group.
Any
 
issued
 
guidance
 
and
 
pronouncements,
 
other
 
than
 
those
 
directly
 
referenced
 
above,
 
are
 
deemed
 
by
 
the
Company to be either not applicable or immaterial to
 
its financial statements.