Standard
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Description
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Date of Adoption
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Effect on the financial statements or other
significant matters
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Standards that are not yet adopted
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ASU
2015-10,
Technical Corrections and Improvements
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This perpetual project updates the Codification for technical
corrections and improvements.
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January 1, 2016 (early
adoption permitted)
for amendments subject
to the transition guidance
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Not
expected to have a significant impact on the consolidated financial
statements.
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ASU
2015-07, Fair Value Measurement (Topic
820): Disclosures for Investments in Certain Entities That
Calculate Net Asset Value per Share (or Its
Equivalent)
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This update removes the requirement to categorize within the fair
value hierarchy all investments for which fair value is measured
using the net asset value per share practical expedient and also
removes certain disclosure requirements for these
investments.
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January 1, 2016 (early
adoption permitted)
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Not
expected to have an impact on the consolidated financial
statements.
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ASU
2015-05, Customer's Accounting for
Fees Paid in a Cloud Computing Arrangement
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This update clarifies that customers should determine whether a
cloud computing arrangement includes the license of software by
applying the same guidance cloud service providers use. The
guidance also eliminates the current requirement that customers
analogized to the leasing standard when determining the asset
acquired in a software licensing arrangement.
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January 1, 2016 (early
adoption permitted)
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Not
expected to have a significant impact on the consolidated financial
statements.
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ASU
2015-03, Interest - Imputation
of Interest (Subtopic 835-30) Simplifying the Presentation of Debt
Issuance Costs
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This ASU requires that debt issue costs are presented in the
balance sheet as a direct deduction from the carrying amount of
that debt liability. The recognition and measurement of debt issue
costs are not affected.
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January 1, 2016 (early
adoption permitted)
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Impacts
presentation only and will not have a significant impact
on the consolidated financial statements.
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ASU
2015-02, Consolidation (Topic 810)
Amendments to the Consolidation Analysis
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This update affects the following areas of the consolidation
analysis: limited partnerships and similar entities, evaluation of
fees paid to a decision maker or service provider as a variable
interest and in determination of the primary beneficiary, effect of
related parties on the primary beneficiary determination and for
certain investment funds.
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January 1, 2016 (early
adoption permitted)
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Not
expected to have a significant impact on the consolidated financial
statements.
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ASU
2015-01, Income Statement -
Extraordinary and Unusual Items (Subtopic
225-20)
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This update eliminates from GAAP the concept of extraordinary
items.
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January 1, 2016 (early
adoption permitted)
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Not
expected to have an impact on the consolidated financial
statements.
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ASU
2014-16, Derivatives and Hedging (Topic
815) Determining Whether the Host Contract in a Hybrid Financial
Instrument Issued in the Form of a Share is More Akin to Debt or
Equity
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This ASU provides additional guidance for evaluating whether
conversion rights, redemption rights, voting rights, liquidation
rights and dividend payment preferences and other features embedded
in a share, including preferred stock, contain embedded derivatives
requiring bifurcation. The update requires that an entity determine
the nature of the host contract by considering all stated and
implied terms and features in a hybrid
instrument.
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January 1, 2016 (early
adoption permitted)
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Not
expected to have an impact on the consolidated financial
statements.
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ASU
2014-15, Presentation of Financial
Statements – Going Concern (Subtopic 205-04) Disclosure of
Uncertainties about an Entity’s Ability to Continue as a
Going Concern
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This ASU requires management to evaluate whether there are
conditions or events, considered in the aggregate, that raise
substantial doubt about the Company’s ability to continue as
a going concern within one year after the date the financial
statements are issued.
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January 1, 2017 (early
adoption permitted)
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Not
expected to have an impact on the consolidated financial
statements.
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ASU
2014-09, Revenue
from Contracts with Customers
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This guidance applies to contracts with customers to transfer goods
or services and contracts to transfer nonfinancial assets unless
those contracts are within the scope of other standards (for
example, lease transactions).
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January 1,
2017 |
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Not
expected to have a significant impact on the consolidated financial
statements.
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