Note 19 - Asset Impairment

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Asset Impairment Charges [Text Block]

19.

    

ASSET IMPAIRMENT

:

During the

fourth

quarter of

2014,

the Company initiated a plan to sell its corporate aircraft and met all of the initial criteria of ASC

360,

“Property, Plant and Equipment” to classify the corporate asset as an asset held for sale.  It was determined that the carrying value of the corporate aircraft was no longer recoverable, and the Company recognized a

$3.4

million in pre-tax non-cash asset impairment charge during the

twelve

months ended

December

31,

2014.

  As a result, the Company adjusted the carrying value of its corporate aircraft to its estimated fair market value less costs to sell in accordance with ASC

820,

“Fair Value Measurement.”  The impairment loss is included in depreciation and amortization expense as of

December

31,

2014,

on the Consolidated Statements of Income. This aircraft was sold in connection with the purchase of a replacement aircraft in

2015

and no additional loss was incurred.