What's Up With managedFields?

After a recent update to my OpenShift cluster, oc get will output yaml/json with a field called .metadata.managedFields which contains a description of the object's structure. For example, I did oc get machineset <mymachineset> -o yaml and besides the stuff that's about my machineset, I see this:

apiVersion: machine.openshift.io/v1beta1
kind: MachineSet
metadata:
  managedFields:
  - apiVersion: machine.openshift.io/v1beta1
    fieldsType: FieldsV1
    fieldsV1:
      f:metadata:
        f:labels:
          .: {}
          f:machine.openshift.io/cluster-api-cluster: {}
      f:spec:
        .: {}
        f:selector:
          .: {}
          f:matchLabels:
            .: {}
            f:machine.openshift.io/cluster-api-cluster: {}
            f:machine.openshift.io/cluster-api-machineset: {}
        f:template:
          .: {}
          f:metadata:
            .: {}
            f:labels:
              .: {}
              f:machine.openshift.io/cluster-api-cluster: {}
              f:machine.openshift.io/cluster-api-machine-role: {}
              f:machine.openshift.io/cluster-api-machine-type: {}
              f:machine.openshift.io/cluster-api-machineset: {}
          f:spec:
            .: {}
            f:metadata: {}
            f:providerSpec:
              .: {}
              f:value:
                .: {}
                f:ami: {}
                f:apiVersion: {}
                f:blockDevices: {}
                f:credentialsSecret: {}
                f:deviceIndex: {}
                f:iamInstanceProfile: {}
                f:instanceType: {}
                f:kind: {}
                f:metadata: {}
                f:placement: {}
                f:securityGroups: {}
                f:subnet: {}
                f:tags: {}
                f:userDataSecret: {}
      f:status: {}

Why is this being shown now? What does it mean? Is it the structure of this object, or is it a reference structure of the object? Am I supposed to be able to use this information in some way? Can it be hidden in some way? Anyone know?