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Significant Accounting Policies (Policies)
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted 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 31, 2022,
as deferred. Early adoption is permitted. The Company adopted this standard on
January 1, 2019.
The adoption of this standard did
not
have a material impact 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 31, 2022,
as deferred, with early adoption permitted. The Company adopted this standard on
January 1, 2019.
The adoption of this standard did
not
have a material impact on our consolidated financial statements.