Recent Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2019

Recent Accounting Pronouncements [Abstract]

Schedule of the Impact for the Adoption of ASU 842

The effects of the changes made to the Company’s January 1, 2019 consolidated balance sheet for the adoption of ASC 842 were as follows:

BALANCE SHEET	Balance as of		Adjustments due to		Balance as of
(in thousands)	December 31, 2018(a)		ASC 842		January 1, 2019
ASSETS
Other assets(b)	$	50,523	$	43,273	$	93,796
LIABILITIES
Accrued expenses and other current liabilities(b)	$	174,325	$	11,569	$	185,894
Other long-term liabilities(b)		151,639		31,704		183,343

(a) Balance as previously reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

(b) Prior to the adoption of ASC 842, operating lease ROU assets and current and long-term operating lease liabilities were not recorded on the Condensed Consolidated Balance Sheets.

In accordance with the new lease standard requirements, the impacts of adoption on the Condensed Consolidated Balance Sheet were as follows:

	As of March 31, 2019
			Balance Without
BALANCE SHEET			Adoption of		Effect of
(in thousands)	As Reported		ASC 842		Change
ASSETS
Other assets(a)	$	91,804	$	49,916	$	41,888
LIABILITIES
Accrued expenses and other current liabilities(a)	$	173,827	$	162,383	$	11,444
Other long-term liabilities(a)		184,999		154,555		30,444

(a) Prior to the adoption of ASC 842, operating lease ROU assets and current and long-term operating lease liabilities were not recorded on the Condensed Consolidated Balance Sheets.

For the three months ended March 31, 2019, the new requirements of ASC 842 did not have an impact on the Company’s results of operations or cash flows.