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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted Accounting Standards
 
FASB ASU
2016
-
09,
Improvements to Employee Share-Based Payment Accounting,
was issued
March
30,
2016.
The provisions of the new standard changes several aspects of the accounting for share-based payment award transactions, including:
(1)
Accounting and Cash Flow Classification for Excess Tax Benefits,
(2)
Forfeitures, and
(3)
Tax Withholding Requirements and Cash Flow Classification. The Company adopted the ASU provisions effective
January
1,
2017,
which has the potential to create volatility in the book tax provision at the time nonqualified stock options are exercised or expire. During the
first
quarter
2017,
376
thousand shares were issued due to the exercise of nonqualified stock options resulting in a tax deduction exceeding related share based compensation by
$1.6
million. First quarter
2017
income tax provision was
$671
thousand lower than would have been under accounting standards prior to the adoption of ASU
2016
-
09.
The Company elected to account for forfeitures as they occur.
 
Recently Issued Accounting Standards
 
FASB Accounting Standards Update (ASU)
2016
-
01
,
Financial Instruments – Overall (Subtopic
825
-
10):
Recognition and Measurement of Financial Assets and Financial Liabilities,
was issued
January
2016.
The ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most notably, the ASU changes the income statement impact of equity investments held by the Company and the requirement for the Company to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes.
 
The Company will be required to adopt the ASU provisions on
January
1,
2018.
Management is evaluating the impact that the ASU will have on the Company’s financial statements.
 
FASB Accounting Standards Update (ASU)
2016
-
02,
Leases (Topic
842),
was issued
February
25,
2016.
The provisions of the new standard require lessees to recognize most leases on-balance sheet, increasing reported assets and liabilities. Lessor accounting remains substantially similar to current U.S. GAAP.

The Company will be required to adopt the ASU provisions
January
1,
2019,
utilizing the modified retrospective transition approach. Management is evaluating the impact that the ASU will have on the Company’s financial statements.
 
FASB ASU
2016
-
13,
Financial Instruments – Credit Losses (Topic
326):
Measurement of Credit Losses on Financial Instruments,
was issued on
June
16,
2016.
The ASU significantly changes estimates for credit losses related to financial assets measured at amortized cost and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with the current expected credit loss (CECL) model, which will accelerate recognition of credit losses. Additionally, credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses under the new standard. The Company will also be required to provide additional disclosures related to the financial assets within the scope of the new standard.
 
The Company will be required to adopt the ASU provisions on
January
1,
2020.
Management is evaluating the impact that the ASU will have on the Company’s consolidated financial statements.
 
FASB ASU
2017
-
08
,
Receivables – Non-Refundable Fees and Other Costs (Subtopic
310
-
20):
Premium Amortization on Purchased Callable Debt Securities
, was issued
March
2017.
The ASU will shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity.
 
The Company will be required to adopt the ASU provisions on
January
1,
2019.
Management is evaluating the impact the ASU will have on the Company’s financial statements.