XML 45 R27.htm IDEA: XBRL DOCUMENT v3.22.0.1
Recent Accounting Standards
12 Months Ended
Dec. 31, 2021
Recent Accounting Standards [Abstract]  
Recent Accounting Standards 20.    Recent Accounting Standards In November 2021, the FASB issued Accounting Standards Update “ASU No. 2021-10- Government Assistance”. The guidance provides increased transparency related to government assistance including (1) the types of assistance, (2) an entity’s accounting for the assistance and (3) the effect of the assistance on an entity’s financial statements. The guidance is effective for fiscal periods beginning after December 31, 2021. We adopted the guidance prospectively on January 1, 2022. There was no effect to our financial statements. In March 2020, the FASB issued Accounting Standards Update “ASU No. 2020-04 - Reference Rate Reform”. The update provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate expected to be discontinued. The update is effective for all entities as of March 12, 2020 and will apply through December 31, 2022. The interest rate charged on borrowings from our existing revolver is based on LIBOR. The credit agreement includes provisions for modifying the interest rate in the instance that LIBOR is discontinued. As a result, no contract modifications will be required when LIBOR is discontinued.‎