Subsequent Event

12 Months Ended

Dec. 31, 2017

Subsequent Event [Abstract]

Subsequent Events [Text Block]

(22)Subsequent Event

On February 13, 2018, the U.S. Treasury Department (“Treasury Department”) and the Internal Revenue Service (“IRS”) issued additional guidance on specific aspects of the Tax Act, as discussed in more detail below. The Company will account for this guidance in the period it was issued. This guidance impacts certain positions previously taken with respect to tax amounts recorded in our consolidated financial statements. We will adjust such amounts to reflect this guidance in our consolidated financial statements for the period ending April 1, 2018. We estimate the impact to be a one-time tax expense of approximately $48,000 that will reverse certain discrete benefits recorded in 2017 as well as increase our provisional deemed repatriation tax liability. In addition, our net deemed repatriation tax on the Statement of Cash Flows for the year ended December 31, 2017 will also be impacted by these adjustments. However, additional guidance may be issued requiring adjustments to this estimated amount and provisional amounts recorded which may materially impact our provision for income taxes in the period in which the adjustments are made.

The guidance issued by the Treasury Department and IRS announced modifications to procedures for changing the accounting period of foreign corporations owned by U.S. shareholders that are subject to the deemed repatriation tax under the Tax Act. Revenue Procedure 2018-17 (the “Rev. Proc.) prevents changes to the annual accounting periods of certain foreign corporations in 2017 under either the existing automatic or general procedures if such change could result in the avoidance, reduction, or delay of the deemed Repatriation Tax.