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Recent Accounting Pronouncements And Other Authoritative Guidance
 3 Months Ended
Mar. 31, 2025
Recent Accounting Pronouncements And Other Authoritative Guidance [Abstract]  
Recent Accounting Pronouncements And Other Authoritative Guidance Note 9 – Recent accounting pronouncements and other authoritative guidance

In November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 requires public companies to disclose specific types of expenses included in the expense captions presented on the face of the income statement as well as make certain other disclosures. The effective date was clarified by the FASB’s issuance of ASU 2025-01, which clarified that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and the standard may be applied prospectively or retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.


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Note 9 – Recent accounting pronouncements and other authoritative guidance (continued)

In December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” These amendments require an entity to disclose additional information within its income tax rate reconciliation. Additionally, the amendments in this ASU require an entity to provide additional disaggregated information concerning the amounts of income taxes paid (net of refunds received) by jurisdiction and other specific income tax related disclosures. This ASU is effective for annual periods beginning after December 15, 2024. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.