XML 28 R13.htm IDEA: XBRL DOCUMENT
v3.25.3

New accounting pronouncements | 9 Months Ended
--- | ---
Sep. 30, 2025
New Accounting Pronouncements and Changes in Accounting Principles |
New Accounting Pronouncements | Note 3 - New accounting pronouncements Recently Adopted Accounting Standards Updates Standard Description Date of adoption Effect on the financial statements FASB ASU 2025-02, Liabilities (Topic 405) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122 The Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2025-02 in March 2025, which amends the guidance in Accounting Standards Codification ("ASC") 450-10- S99-1 by removing the interpretative guidance of Section FF of Topic 5 in the Staff Accounting Bulletin Series ("SAB") text that addressed the accounting for obligations to safeguard crypto-assets held by platform users to align the ASC with the latest SAB 112 directive, ensuring consistency and clarity. March 18, 2025 The Corporation was not impacted by the adoption of this ASU since it does not currently hold crypto-assets. FASB ASU 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements The FASB issued ASU 2024-02 in March 2024, which removes various references to concept statements from the ASC. The ASU intends to simplify the Codification and distinguish between nonauthoritative and authoritative guidance. January 1, 2025 The Corporation was not impacted by the adoption of this ASU since it did not provide for accounting changes or new presentation or disclosure requirements. The ASU eliminated references within the ASC to the concept statements, which is considered non-authoritative guidance. FASB ASU 2024-01, Compensation - Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards The FASB issued ASU 2024-01 in March 2024, which amends ASC Topic 718 by including an illustrative example to demonstrate how an entity would apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest awards should be accounted for in accordance with ASC Topic 718. The ASU is intended to reduce complexity and diversity in practice. January 1, 2025 The Corporation was not impacted by the adoption of this ASU since the performance share awards of the Corporation continue to meet the requirements of ASC 718-10-15-3. FASB ASU 2023-08, Intangibles - Goodwill and Other - Crypto Assets (Subtopic 350-60) - Accounting for and Disclosure of Crypto Assets The FASB issued ASU 2023-08 in December 2023, which amends ASC Subtopic 350-60 by requiring that crypto assets are measured at fair value in the statement of financial position each reporting period with changes from remeasurement being recognized in net income. The ASU also requires enhanced disclosures for both annual and interim reporting periods to provide investors with relevant information to analyze and assess the exposure and risk of significant individual crypto asset holdings. January 1, 2025 The Corporation was not impacted by the adoption of this ASU since it does not currently hold crypto-assets. Recently Adopted Accounting Standards Updates Standard Description Date of adoption Effect on the financial statements FASB ASU 2023-05, Business Combinations - Joint Venture Formations (Subtopic 805-60) - Recognition and initial measurement The FASB issued ASU 2023-05 in August 2023, which amends ASC Subtopic 805-60 to include specific guidance about how joint ventures should recognize and initially measure assets contributed and liabilities assumed. The amendments require that a joint venture, upon formation, recognize and initially measure its assets and liabilities at fair value. January 1, 2025 The Corporation was not impacted at the time of adoption of this ASU since it elected to prospectively apply the standard. The Corporation will consider this guidance for the initial measurement of assets and liabilities of joint ventures created after the date of adoption. Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) - Derivatives Scope Refinements and Scope Clarification for Share- Based Noncash Consideration from a Customer in a Revenue Contract The FASB issued ASU 2025-07 in September 2025, which refines the scope of derivative accounting under ASC Topic 815 and clarifies the treatment of share-based noncash consideration under ASC Topic 606. The update excludes certain non- exchange traded contracts with underlyings based on the operations of one of the parties from derivative accounting, aiming to better reflect the nature of these arrangements and reduce complexity. It also confirms that share-based noncash consideration from a customer should be accounted for under ASC Topic 606 until the right to receive or retain such non-cash consideration becomes unconditional, promoting consistency in revenue recognition practices. January 1, 2027 The Corporation is currently evaluating any impact that the adoption of this guidance will have on its financial statements and presentation and disclosures. FASB ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350- 40) - Targeted Improvements to the Accounting for Internal- Use Software The FASB issued ASU 2025-06 in September 2025, which seeks to modernize the accounting for internal-use software under ASC Subtopic 350-40, Intangibles— Goodwill and Other—Internal-Use Software. The update replaces the traditional stage- based model (preliminary, development, post-implementation) with a principles- based framework that better reflects current software development practices, including agile and cloud-based approaches. January 1, 2028 The Corporation is currently evaluating the impact that the adoption of this guidance will have on our accounting for internal use software considering our development practices which may include agile and cloud based approaches. Given the recent issuance of this guidance it is too early to tell whether the impact will be material in our financial statements and presentation and disclosures. FASB ASU 2025-05, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses for Accounts Receivables and Contract Assets The FASB issued ASU 2025-05 in July 2025, which permits entities to elect a practical expedient when accounting for current accounts receivable and current contract assets arising from transactions accounted for under ASC Topic 606, Revenue from Contracts with Customers. This practical expedient establishes that, in developing reasonable and supportable forecasts as part of estimating expected credit losses, entities assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. January 1, 2026 The Corporation does not expect that the adoption of this standard will have a significant impact on its financial statements. FASB ASU 2025-04, Compensation - Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606) - Clarifications to Share-Based Consideration Payable to a Customer The FASB issued ASU 2025-04 in May 2025, which clarifies the accounting for share-based awards granted as consideration payable to a customer. The ASU expands the definition of performance condition for share-based consideration under ASC 718 and eliminates the forfeiture policy election for service conditions. It also confirms that the variable consideration constraint in ASC 606 does not apply to such awards. January 1, 2027 The Corporation does not expect to be impacted by the adoption of this ASU since it does not grant share-based payment awards to customers. Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810) - Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity The FASB issued ASU 2025-03 in May 2025 which requires that an entity consider the factors in paragraphs 805-10-55-12 through 55-15 when it is involved in an acquisition transaction effected primarily by exchanging equity interests when the legal acquiree is a variable interest entity ("VIE") that meets the definition of a business to determine which entity is the accounting acquirer. This replaces the previous requirement that the primary beneficiary always is the acquirer. January 1, 2027 The Corporation is currently evaluating any impact that the adoption of this guidance will have on its financial statements and presentation and disclosures. FASB ASU 2024-04, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) - Induced Conversions of Convertible Debt Instruments The FASB issued ASU 2024-04 in November 2024, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. Also it makes additional clarifications to assist stakeholders in applying the guidance. The ASU clarifies that the incorporation, elimination, or modification of a volume- weighted average price ("VWAP") formula does not automatically cause a settlement to be accounted for as an extinguishment and that the induced conversion guidance applies to a convertible debt instrument that is not currently convertible as long as it had a substantive conversion feature as of both its issuance date and the date the inducement offer is accepted. January 1, 2026 The Corporation is currently evaluating any impact that the adoption of this guidance will have on its financial statements and presentation and disclosures. FASB ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses (As updated by ASU 2025-01) The FASB issued ASU 2024-03 in November 2024, which requires public entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods to improve financial transparency. For fiscal years beginning on January 1, 2027 For interim periods within fiscal years beginning after January 1, 2028 The Corporation is currently evaluating the impact that the adoption of this guidance will have on its financial statements and presentation and disclosures. FASB ASU 2023-09, Income Tax (Topic 740) - Improvements to Income Tax Disclosures The FASB issued ASU 2023-09 in December 2023, which amends ASC Topic 740 by enhancing disclosures regarding rate reconciliation and requiring the disclosure of income taxes paid, income (or loss) before income tax expense and income tax expense disaggregated by national, state and foreign level. Disclosures that no longer were considered cost beneficial or relevant were removed from ASC Topic 740. January 1, 2026 The Corporation will prospectively adopt ASU 2023-09 for it's Consolidated Financial Statements in the 2025 Form 10-K. The adoption of this standard will result in the inclusion of certain new categories in the effective income tax rate and income tax expense tabular disclosures, as well as the disclosure of income taxes paid, within the income taxes note. Accounting Standards Updates Not Yet Adopted Standard Description Date of adoption Effect on the financial statements FASB ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative The FASB issued ASU 2023-06 in October 2023 which modifies the disclosure or presentation requirements of various subtopics in the Codification with the purpose of aligning U.S. GAAP requirements with those of the SEC under Regulation S-X and S-K. The date on which the SEC removes related disclosure requirements. If by June 30, 2027 the SEC has not removed the applicable requirements, the standard will not become effective. The Corporation does not expect to be impacted by the adoption of this ASU since it is subject to SEC's current disclosure and presentation requirements under Regulation S-X and S-K.

X
- References No definition available. + Details
Name: | us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147476173/280-10-65-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 105 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479343/105-10-65-7 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 60 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147476176/805-60-65-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 848 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483550/848-10-65-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478666/740-323-65-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478666/740-323-65-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478666/740-323-65-2 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 848 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483550/848-10-65-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 848 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483550/848-10-65-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(iv) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 5 -Subparagraph (SAB Topic 11.M.Q2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480530/250-10-S99-5 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 20 -Name Accounting Standards Codification -Section 65 -Paragraph 6 -Subparagraph (i)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480528/815-20-65-6 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 4 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479654/326-10-65-4 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 4 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479654/326-10-65-4 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483194/926-20-65-2 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483194/926-20-65-2 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (f)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483194/926-20-65-2 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480530/250-10-S99-6 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 250 -Publisher FASB -URI https://asc.fasb.org/250/tableOfContent Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480175/815-40-65-1 + Details
Name: | us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration