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Significant Accounting Policies (Policies)
9 Months Ended
Sep. 29, 2019
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted Accounting Guidance
 
Leases
 
Effective
January 1, 2019,
the Company adopted Accounting Standards Update
2016
-
02
Leases
(Topic
842
). Adoption of the new standard did
not
materially impact the prior year consolidated statements of operations and cash flows. The prior year consolidated balance sheet has been revised for the effects of the new standard. The effects to our consolidated balance sheet as of
December 31, 2018
are presented below.
 
The Company adopted the new standard applying the modified retrospective approach. The Company measured and recognized leases upon adoption which had commenced as of the beginning or during the prior year. The package of practical expedients permitted under the transition guidance of the new standard was elected which allowed us to carry forward the historical lease classification and determination of whether an arrangement is or contains a lease on existing leases. The use-of-hindsight transition practical expedient was applied to determine the lease term for existing leases, which resulted in the lengthening of the lease term at commencement for
one
of our operating facilities.
 
At contract inception, the Company determines whether the arrangement is or contains a lease and determines the lease classification. The lease term is determined based on the non-cancellable term of the lease adjusted to the extent optional renewal terms and termination rights are reasonably certain. Lease expense is recognized evenly over the lease term. Variable lease payments are recognized as period costs. The present value of remaining lease payments is recognized as a liability on the balance sheet with a corresponding right-of-use asset adjusted for prepaid or accrued lease payments. The Company uses its incremental borrowing rate for the discount rate, unless the interest rate implicit in the lease contract is readily determinable. The Company has adopted the practical expedients to
not
separate non-lease components from lease components and to
not
present short-term leases on the balance sheet.
 
The impact on the consolidated balance sheet as of
December 31, 2018
is shown below.
 
Impact to Previously Reported Results
 
Consolidated Balance Sheet as of
December 31, 2018:
 
   
As
P
reviously
R
eported
   
Lease
Standard
Adjustment
   
As
Adjusted
 
Other noncurrent assets
  $
82
    $
805
    $
887
 
Prepaid expenses and other current assets
   
2,429
     
(61
)    
2,368
 
Accrued expenses and other current liabilities
   
3,534
     
439
     
3,973
 
Other noncurrent liabilities
   
32
     
376
     
408
 
Accumulated deficit
   
(57,964
)    
(71
)    
(58,035
)
 
See Note
9
for further disclosure regarding lease accounting.
 
Recent Accounting Guidance
Not
Yet Adopted
 
There have been
no
developments to recently issued accounting standards, including the expected dates of adoption and anticipated effects on the Company’s consolidated financial statements, from those disclosed in the Company’s
2018
Annual Report on Form
10
-K.