| Summary of Impact of Adoption of Topic 842 on consolidated financial statements |
The following tables summarize the impact of the Company’s adoption of Topic 842 on its consolidated financial statements as of January 1, 2019.
|
|
|
As reported December 31, 2018 |
Adoption of ASC 842 Increase/(Decrease) |
|
Balance as of January 1, 2019 |
|
Prepaid expenses and other current assets |
|
212,477 |
(3,529) |
1 |
208,948 |
|
Operating lease ROU assets |
|
- |
273,732
|
|
273,732
|
|
Other assets: Finance lease ROU assets |
|
- |
35,955 |
6 |
35,955 |
|
Other assets |
|
155,159 |
(5,126) |
3 |
150,033 |
|
Property, plant and equipment, net |
|
212,715 |
(2,343) |
2 |
210,372 |
|
|
|
|
|
|
|
|
Accrued expenses and other current liabilities |
|
571,350 |
(1,123) |
4 |
570,227 |
|
Operating leases liability (current) |
|
- |
42,200 |
|
42,200 |
|
Operating leases liability (non-current) |
|
- |
258,378 |
|
258,378 |
|
Other liabilities |
|
165,226 |
(767) |
5 |
164,459 |
|
|
1. |
Includes prepaid rent amounting to $3,160 and leasehold land amounting to $369, which have been reclassified to operating lease ROU assets and finance lease ROU assets, respectively. |
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|
2. |
Represents vehicles recognized as capital leases under ASC 840 and reclassified as a finance lease ROU asset. |
|
|
3. |
Includes prepaid rent amounting to $284 and leasehold land amounting to $4,842, which have been reclassified to operating lease ROU assets and finance lease ROU assets, respectively. |
|
|
4. |
Includes accrued lease liabilities of $4,562 adjusted with operating lease ROU assets offset by additional current portion of finance lease liabilities of $3,439 recognized upon the adoption of ASC 842. |
|
|
5. |
Includes accrued lease liabilities of $25,728 adjusted with operating lease ROU assets offset by additional finance lease liabilities of $24,961 recognized upon the adoption of ASC 842. |
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|
6. |
The balance is included in “other assets” in the consolidated balance sheet. |
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