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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted
Accounting Standards

The Company did
not
incur any material impact to its financial condition or results of operations due to the adoption of any new accounting standards during the periods reported.
 
In
May 2017,
the Financial Accounting Standards Board (FASB), issued ASU
2017
-
09,
"Compensation-Stock Compensation (Topic
718
): Scope of Modification Accounting." ASU
2017
-
09
provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The amendments in this update should be applied prospectively to an award modified on or after the adoption date. The Company adopted this guidance
January 1, 2018.  
The adoption of this guidance did
not
have a material effect on our consolidated financial statements.
 
In
August 2016,
FASB issued ASU
2016
-
15,
"Statement of Cash Flows (Topic
230
), Classification of Certain Cash Receipts and Cash Payments." The amendments in this update provide guidance on
eight
specific cash flow issues, thereby reducing the diversity in practice in how certain transaction are classified in the consolidated statements of cash flows. This standard is effective for annual periods and interim periods for those annual periods beginning on or after
December 15, 2017.  
Early adoption is permitted. The Company adopted this guidance
January 1, 2018.
The adoption of this guidance did
not
have a material impact on our consolidated financial statements.
 
In
March 2016,
the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU
2016
-
09
) a new standard that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will
no
longer be separately classified as a financing activity apart from the other income tax cash flows. The standard also allows the Company to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on our cash flow statements, and provides an accounting policy election to account for forfeitures as they occur. The Company adopted this standard effective
October 1, 2017.
The adoption of this new standard did
not
have a material impact on our consolidated financial statements.
 
In
May 2014,
the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU)
2014
-
09,
outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that “an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.” The Company adopted this new standard effective
January 1, 2018. 
The adoption of this standard did
not
have a material impact on our consolidated financial statements.   
 
Recently Issued Accounting Standards
 
In
January 2017,
FASB issued ASU
2017
-
04,
"Intangibles-Goodwill and Other (Topic
350
): Simplifying the Test for Goodwill Impairment." ASU
2017
-
04
eliminates the
second
step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value,
not
to exceed the total amount of goodwill allocated to the reporting unit. The standard, which should be applied prospectively, is effective for fiscal years and interim periods within those years beginning on or after
December 15, 2019.
Early adoption is permitted. We are evaluating the impact the adoption of this standard could have on our consolidated financial statements.
 
In
June 2016,
the FASB issued ASU
2016
-
13,
Financial Instruments-Credit Losses. The standard requires a financial asset (including trade receivables) measured at amortized cost basis to be presented at the net amount expected to be collected. Thus, the income statement will reflect the measurement of credit losses for newly-recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. This standard is effective for fiscal years and interim periods within those fiscal years beginning on or after
December 15, 2019
with early adoption permitted. We are evaluating the impact the adoption of this standard could have on our consolidated financial statements.
 
 
In
February 2016,
the FASB issued ASU
2016
-
02
“Leases (Topic
842
),” a new standard related to leases to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet. Most prominent among the amendments is the recognition of assets and liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does
not
require transition accounting for leases that expire prior to the date of initial application. The new standard is effective for fiscal years and interim periods within those years, beginning on or after
January 1, 2019,
with early adoption permitted. We are evaluating the impact the adoption of this standard will have to our consolidated financial statements.