XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 2 - New Accounting Pronouncements
3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Description of New Accounting Pronouncements Not yet Adopted [Text Block]
Note
2.
New Accounting Pronouncements
 
Recently Adopted
 
In
January 2016,
the FASB issued ASU
No.
2016
-
01,
Recognition and Measurement of Financial Assets and Financial Liabilities
(“ASU
2016
-
01”
). The standard requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, and separate presentation of financial assets and financial liabilities by measurement category and form of financial asset. Additionally, ASU
2016
-
01
eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments on the balance sheet. We adopted this standard on
January 1, 2018.
The adoption of this standard did
not
have a material impact on our consolidated financial statements, as we do
not
have any equity investments.
 
In
January 2017,
the FASB issued ASU
No.
2017
-
01
(“ASU
2017
-
01”
),
Business Combinations (Topic
805
): Clarifying the Definition of a Business.
The standard narrows the application of when an integrated set of assets and activities is considered a business and provides a framework to assist entities in evaluating whether both an input and a substantive process are present to be considered a business. We adopted this standard on
January 1, 2018.
The adoption of this standard did
not
have a material impact on our consolidated financial statements.
 
In
January 2017,
the FASB issued ASU
No.
2017
-
04
(“ASU
2017
-
04”
),
Intangibles - Goodwill and Other (Topic
350
): Simplifying the Test for Goodwill Impairment
. The standard simplifies how an entity is required to test goodwill for impairment by eliminating Step
2
from the goodwill impairment test. Step
2
measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount. We adopted this standard on
January 1, 2018.
The adoption of this standard did
not
have a material impact on our consolidated financial statements.
 
Not
Yet Adopted
 
In
February 2016,
the FASB issued ASU
No.
2016
-
02,
Leases (Topic
842
)
(“ASU
2016
-
02”
)
.
The standard requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. Additionally, ASU
2016
-
02
requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. ASU
2016
-
02
is effective for fiscal years, and interim periods within those fiscal years, beginning after
December 15, 2018,
with early adoption permitted. We are currently evaluating the impact of this new standard on our consolidated financial statements.