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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2023
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedules of Accounting Standards Updates | The following ASUs were adopted by the Company during the six months ended June 30, 2023: ​
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ASU. No. |  | Topic |  | Nature of Update |  | Date Adopted |  | Adoption |  | Statement Impact
2022-02 | ​ | Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures | ​ | This ASU eliminates the TDR recognition and measurement guidance and, instead, requires the Company to evaluate (consistent with the accounting for other loan modifications) whether a modification represents a new loan or a continuation of an existing loan. This ASU also enhances existing disclosure requirements and introduces new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. This ASU requires the Company to disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. Gross writeoff information must be included in the vintage disclosures required for the Company in accordance with ASC 326-20-50-6, which requires that the Company disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. (see Note 5 in this section of the filing) | ​ | January 1, 2023 | ​ | Prospectively | ​ | Immaterial
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2022-06 | ​ | Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 | ​ | This ASU extends the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. The objective of the guidance in Topic 848 is to provide relief during the temporary transition period, so the FASB included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. In 2021, the UK Financial Conduct Authority (FCA) delayed the intended cessation date of certain tenors of USD LIBOR to June 30, 2023. | ​ | January 1, 2023 | ​ | Prospectively | ​ | Immaterial. The Company ceased making new loans and renewing loans indexed to LIBOR on January 1, 2022.
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ASU. No. | ​ | Topic | ​ | Nature of Update | ​ | Required | ​ | Method | ​ | Financial Impact
2022-03 | ​ | Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions | ​ | This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. | ​ | January 1, 2024 | ​ | Prospectively | ​ | Immaterial
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2023-03 | ​ | Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock (SEC Update) | ​ | This ASU amends the FASB Accounting Standards Codification™ for SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock. | ​ | Upon addition to the FASB Codification. | ​ | Prospectively | ​ | The Company is currently analyzing the impact of this ASU on its financial statements.
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2023-02 | ​ | Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force) | ​ | This ASU allows reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. | ​ | January 1, 2024 | ​ | Prospectively | ​ | The Company is currently analyzing the impact of this ASU on its financial statements.
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2023-01 | ​ | Leases (Topic 842): Common Control Arrangements | ​ | This ASU requires entities to determine whether a related party arrangement between entities under common control is a lease. If the arrangement is determined to be a lease, an entity must classify and account for the lease on the same basis as an arrangement with a related party (on the basis of legally enforceable terms and conditions). | ​ | January 1, 2024 | ​ | Prospectively | ​ | The Company is currently analyzing the impact of this ASU on its financial statements.

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