XML 21 R10.htm IDEA: XBRL DOCUMENT v3.21.1
Recent Accounting Developments
 3 Months Ended
Mar. 31, 2021
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
Recent Accounting Developments

2. Recent Accounting Developments

Accounting Standards Updates Not Yet Implemented

Reference Rate Reform

In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued as a result of reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. Entities may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. Modifications to our interest rate swap and Credit Facility agreements during the effective period of this amendment will be assessed and if the modifications meet the criteria for the optional expedients and exceptions, we intend to adopt ASU 2020-04 and apply the amendments as applicable. We evaluated Amendment No. 3 to our Credit Facility and determined that ASU 2020-04 was not applicable.

​