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Basis of Presentation (Policies)
9 Months Ended
Sep. 30, 2014
Basis of Presentation  
Cash and cash equivalents

Cash and cash equivalents

 

Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements was $515 and $1,001 as of September 30, 2014 and December 31, 2013, respectively, and are included within Cash and Cash Equivalents in the Consolidated Balance Sheet.

 

Book overdrafts of $32,097 and $29,310 are included within Accounts Payable in the Consolidated Balance Sheet as of September 30, 2014 and December 31, 2013, respectively.

 

Adopted Accounting Pronouncements

Adopted Accounting Pronouncements

 

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, Balance Sheet (Topic 210), Disclosures about Offsetting Assets and Liabilities. This update requires additional disclosures about offsetting and related arrangements on assets and liabilities to enable users of financial statements to understand the effect of such arrangements on an entity’s financial position as reported. This amendment is effective for fiscal 2014 and retrospective application is required.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.

 

In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists to eliminate diversity in practice. Under this ASU, an unrecognized tax benefit, or a portion of an unrecognized tax benefit that exists at the reporting date, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if certain criteria are met. This amendment is effective for fiscal years and interim periods within those years beginning after December 15, 2013.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.