Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of new accounting pronouncements

We adopted the following Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs) on January 1, 2020. Our adoption of these ASUs did not have a material impact on our financial statements or related disclosures.

ASU

Basis of
Adoption

2016-13

Financial Instruments—Credit Losses (Topic 326):

Measurement of Credit Losses on Financial Instruments (including

codification improvements in ASUs 2018-19 and 2019-11 and

ASU 2020-02—Financial Instruments—Credit Losses (Topic 326):

Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting

Bulletin No. 119)

Cumulative
effect

2018-15

Intangibles—Goodwill and Other—Internal-Use Software

(Subtopic 350-40): Customer’s Accounting for Implementation Costs

Incurred in a Cloud Computing Arrangement That Is a Service Contract

Prospectively

2019-12

Income Taxes (Topic 740): Simplifying the Accounting

for Income Taxes

Prospectively

The following FASB ASU was issued and adopted by us on March 12, 2020. Our adoption of this ASU did not have a material impact on our financial statements or related disclosures.

ASU

Basis of
Adoption

2020-04

Reference Rate Reform (Topic 848): Facilitation of the Effects of

Reference Rate Reform on Financial Reporting

Prospectively

The following FASB ASU was issued and adopted by us on January 7, 2021. Our adoption of this ASU did not have a material impact on our financial statements or related disclosures.

ASU

Basis of
Adoption

2021-01

Reference Rate Reform (Topic 848): Scope

Prospectively