Change In Accounting Estimate

9 Months Ended

Sep. 30, 2015

Change In Accounting Estimate [Abstract]

Change In Accounting Estimate

NOTE 19 – CHANGE IN ACCOUNTING ESTIMATE

Based on company policy, we review the reasonableness of our salvage values every three years based on the most recent three year average price of scrap steel per metric ton. In the first quarter of 2015, we reviewed and adjusted the salvage values based on changes in the market value of scrap steel. This adjustment resulted in a decrease in salvage values of approximately $0.6 million. The impact of this adjustment on depreciation expense for the three and nine months ending September 30, 2015 was immaterial.  The impact for future periods is also expected to be immaterial.