XML 75 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounting Policies
9 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Accounting Policies
Accounting Policies

There have been no changes or additions to our significant accounting policies described in Note 1 to the Consolidated Financial Statements in the Company’s 2013 10-K, with the exception of the following associated with the acquisition of the operating units of Specialized Industries LP (see Note 3):

Rental Equipment

The Company enters into lease agreements with customers related to the rental of certain equipment. All of these leasing agreements are classified as operating leases, and are for periods not to exceed two years. In accounting for these leases, the cost of the equipment purchased or manufactured by the Company is recorded as an asset, and is depreciated over its estimated useful life. Accumulated depreciation relating to the rental equipment was $1,895,000 as of September 30, 2014. The rental income is recognized ratably over the term of the leases.