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Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
Basis of Presentation
 
The consolidated financial statements and notes include all accounts and subsidiaries of the Company in which it maintains a controlling financial interest. Intercompany accounts and transactions have been eliminated. The Company consolidates the financial results of the AQ-JV based on its determination that, for accounting purposes, it holds a controlling financial interest in the joint venture and is the primary beneficiary of this variable interest entity. The Company has accounted for and reported QHL’s
50
percent ownership interest in the joint venture as a noncontrolling interest. See Note
3
Joint Venture
” for additional information. Certain reclassifications have been made to the prior years’ financial statements to conform to the current year presentation.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
 
The preparation of financial statements in conformity with Generally Accepted Accounting Principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Among the significant estimates affecting the financial statements are those related to the realizable value of accounts receivable and long-lived assets, the value of derivative instruments, revenue, deferred capacity revenue, legal contingencies, stock-based compensation, operating leases and income taxes. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes is reasonable under the circumstances. Assumptions are adjusted as facts and circumstances dictate. Volatile capital markets, uncertainty regarding certain regulatory matters, and the continuation of low crude oil pricing have combined to increase the uncertainty in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results
may
differ significantly from those estimates. Changes in those estimates will be reflected in the financial statements of future periods.
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and Cash Equivalents
 
For purposes of the Consolidated Balance Sheets and Consolidated Statements of Cash Flows, the Company generally considers all highly liquid investments with a maturity at acquisition of
three
months or less to be cash equivalents.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]
Restricted Cash 
 
Restricted cash of
$1,631
at
December 31, 2019
consists of certificates of deposits totaling
$1,600
required under the terms of certain contracts to which the Company is a party and other restricted cash of
$31.
When the restrictions are lifted, the Company will transfer these funds into its operating accounts.
Accounts Receivable [Policy Text Block]
Trade Accounts Receivable and Allowance for Doubtful Accounts
 
Trade accounts receivable are recorded at the invoiced amount and do
not
bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the Consolidated Statements of Cash Flows. The Company does
not
have any off-balance sheet credit exposure related to its customers. Allowances for uncollectible receivables are established and incurred during the period. These estimates are derived through an analysis of account aging profiles and a review of historical recovery experience. Receivables are charged off against the allowance when management confirms it is probable amounts will
not
be collected. Subsequent recoveries, if any, are credited to the allowance. The Company records bad debt expense as a component of “Selling, general and administrative expense” in the Consolidated Statements of Comprehensive Income. See Note
4
Accounts Receivable
” for additional information regarding accounts receivable associated with the Company’s rural health care customers.
Inventory, Policy [Policy Text Block]
Materials and Supplies
 
Materials and supplies are carried in inventory at the lower of moving average cost or net realizable value. Cash flows related to the sale of inventory are included in operating activities in the Company’s Consolidated Statements of Cash Flows.
Property, Plant and Equipment, Policy [Policy Text Block]
Property, Plant and Equipment
 
Telephone property, plant and equipment are stated at historical cost of construction including certain capitalized overhead and interest charges. Renewals and betterments of telephone plant are capitalized, while repairs and renewals of minor items are charged to cost of services and sales (excluding depreciation and amortization) as incurred. The Company uses a group composite depreciation method in accordance with industry practice. Under this method, telephone plant, with the exception of land and finance leases, retired in the ordinary course of business, less salvage, is charged to accumulated depreciation with
no
gain or loss recognized. Non-telephone plant is stated at historical cost including certain capitalized overhead and interest charges, and when sold or retired, a gain or loss is recognized. Depreciation of property is provided on the straight-line method over estimated service lives ranging from
5
to
50
years.
 
The Company is the lessee of equipment and buildings under finance leases expiring in various years through
2033.
The assets and liabilities under finance leases are initially recorded at the lower of the present value of the minimum lease payments or the fair value of the assets at the inception of the lease. The assets are amortized over the shorter of their related lease terms or the estimated productive lives. Amortization of assets under finance leases is included in depreciation and amortization expense. The Company is also the lessee of various land, building and personal property under operating lease agreements which are
not
classified as property, plant and equipment. See Note
11
Leases
” for additional information regarding the Company’s leases.
 
The Company capitalizes interest charges associated with construction in progress based on a weighted average interest cost calculated on the Company’s outstanding debt.
Asset Retirement Obligation [Policy Text Block]
Asset Retirement Obligations
 
The Company records liabilities for obligations related to the retirement and removal of long-lived assets, consisting primarily of batteries and operating leases. The Company records, as liabilities, the estimated fair value of asset retirement obligations on a discounted cash flow basis when incurred, which is typically at the time the asset is installed or acquired. The obligations are conditional on the occurrence of future events. Uncertainty about the timing or settlement of the obligation is factored into the measurement of the liability. Amounts recorded for the related assets are increased by the amount of these obligations. Over time, the liabilities increase due to the change in their present value, the potential changes in assumptions or inputs, and the initial capitalized assets decline as they are depreciated over the useful life of the related assets. The liabilities are extinguished when the asset is taken out of service.
Indefeasible Rights of Use [Policy Text Block]
Indefeasible Rights of Use
 
Indefeasible rights of use (“IRU”) consist of agreements between the Company and a
third
party whereby
one
party grants access to a portion of its fiber network to the other party or receives access to a portion of the fiber network of the other party. The access
may
consist of individually specified fibers or a specified number of fibers on the network. IRU agreements under which individually specified fibers are provided are accounted for as leases. Certain of the Company’s IRU agreements consist of like kind exchanges for which the value of the access given up is determined to be equal to the value of the access received. Cash
may
or
may
not
be exchanged depending on the terms of the agreement. For IRU agreements in which an equal amount of cash is received and paid and the transaction is determined to
not
have commercial substance, revenue and expense is
not
recognized in connection with the cash exchanged. For IRU agreements that are
not
like kind exchanges and for which the Company receives or pays cash, revenue and expense are recognized over the term of the agreement.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]
Variable Interest Entities
 
The Company’s ownership interest in the AQ-JV is a variable interest entity as defined in Accounting Standards Codification (“ASC”)
810,
“Consolidation.” The Company consolidates the financial results of this entity based on its determination that, for accounting purposes, it holds a controlling financial interest in, and is the primary beneficiary of, the entity. The Company has accounted for and reported the interest of this entity’s other owner as a noncontrolling interest. See Note
3
Joint Venture
” for additional information.
Deferred Capacity Revenue [Policy Text Block]
Deferred Capacity Revenue
 
Deferred capacity liabilities are established for usage rights on the Company’s network provided to
third
parties. They are established at fair value and amortized to revenue on a straight-line basis over the contractual life of the relevant contract.
Preferred Stock, Policy [Policy Text Block]
Preferred Stock
 
The Company has
5
million shares of
$0.01
par value preferred stock authorized,
none
of which were issued or outstanding at
December 31, 2019
and
2018.
 
On
January 8, 2018,
the Company’s Board of Directors authorized
145
thousand shares of Series A Junior Participating Preferred Stock in connection with a Section
382
Tax Benefits Preservation Plan which expired on
October 17, 2019.
In conjunction with the expiration of the plan, the Series A Junior Participating Preferred Stock was eliminated.
No
shares were issued under the plan.
Lessee and Lessor, Leases [Policy Text Block]
Leases
 
The Company accounts for leases in accordance with ASC
842,
“Leases
(“ASC
842”
). See Note
11
Leases
” for a summary of the Company’s lease accounting policies and other disclosures required under ASC
842.
Revenue [Policy Text Block]
Revenue Recognition
 
The Company accounts for revenue in accordance with ASC
606,
“Revenue from Contracts with Customers” (“ASC
606”
) and other guidance. See Note
2
Revenue Recognition
” for a summary of the Company’s revenue recognition policies and other disclosures required under ASC
606.
Advertising Cost [Policy Text Block]
Advertising Costs
 
The Company expenses advertising costs as incurred. Advertising expense totaled
$2,829
and
$3,074
in
2019
and
2018,
respectively and is included in “Selling, general and administrative expense” in the Company’s Consolidated Statements of Comprehensive Income.
Postemployment Benefit Plans, Policy [Policy Text Block]
Employee Termination Benefits
 
In
2019,
the Company recorded a charge of
$1,715
associated with cash-based termination benefits paid or to be paid to is former Chief Executive Officer who separated from the Company effective
June 30, 2019.
These benefits consist of special termination benefits as defined in ASC
712,
“Compensation – Nonretirement Postemployment Benefits” and include the continuation of salary and certain benefits through
December 31, 2019,
and the payment of annual cash incentive and long-term cash awards, subject to certain conditions. Payments totaling
$1,390
were made in
2019
and the balance will be paid in
2020
and
2021.
The effect of the former Chief Executive Officer’s separation on the relevant equity awards were accounted for in accordance with ASC
718,
“Compensation – Stock Compensation.” See Note
17
Stock Incentive Plans
.”
Share-based Payment Arrangement [Policy Text Block]
Share-based Payments
 
The Company accounts for forfeitures associated with share-based payments as they occur.
 
Restricted Stock Units (“RSUs”)
 
The Company determines the fair value of RSUs based on the number of shares granted and the quoted closing market price of the Company's common stock on the date of grant, discounted for estimated dividend payments that do
not
accrue to the employee during the vesting period. Compensation expense is recognized over the vesting period and adjustments are charged or credited to expense. RSUs are granted under the Company’s
2011
Incentive Award Plan.
 
Performance Share Units (“PSUs”)
 
PSUs
may
include a combination of service, specified performance, and/or market based conditions which determine the number of awards and the associated vesting. The Company measures the fair value of each new PSU at the grant date. Adjustments each reporting period are based on changes to the expected achievement of the performance goals or if the PSUs otherwise vest, expire, or are determined by the Compensation Committee of the Company’s Board of Directors to be unlikely to vest prior to expiration. Adjustments are charged or credited to expense. For PSUs that include a market condition, compensation expense associated with the market condition is recognized regardless of whether the market condition is satisfied provided that performance measure has been met and the requisite service has been provided. Compensation expense is recorded over the requisite service period. PSUs are granted under the Company’s
2011
Incentive Award Plan.
 
Employee Stock Purchase Plan (“ESPP
”)
 
The Company makes payroll deductions of from
1%
to
15%
of compensation from employees who elect to participate in the ESPP. A liability accretes during the
6
-month offering period and at the end of the offering period (
June 30
and
December 31),
and the Company issues the shares from the
2012
Employee Stock Purchase Plan (
“2012
ESPP”). Compensation expense is recorded based upon the estimated number of shares to be purchased multiplied by the discount rate per share.
 
Tax Treatment
 
Stock-based compensation is treated as a temporary difference for income tax purposes and increases deferred tax assets until the compensation is realized for income tax purposes. To the extent that realized tax benefits exceed the book based compensation, the excess tax benefit is credited to additional paid in capital.
Pension and Other Postretirement Plans, Policy [Policy Text Block]
Pension Benefits
 
Multi-employer Defined Benefit Plan
 
Pension benefits for substantially all of the Company’s Alaska-based employees are provided through the Alaska Electrical Pension Fund (“AEPF”). The Company pays a contractual hourly amount based on employee classification or base compensation. The accumulated benefits and plan assets are
not
determined for, or allocated separately to, the individual employer.
 
Defined Benefit Plan
 
The ACS Retirement Plan, which is the Company’s sole single-employer defined benefit plan and covers a limited number of employees previously employed by a predecessor to
one
of our subsidiaries, is frozen. The Company recognizes the under-funded status of this plan as a liability on its balance sheet and recognizes changes in the funded status in the year in which the changes occur. The ACS Retirement Plan’s accumulated benefit obligation is the actuarial present value, as of the Company’s
December 31
measurement date, of all benefits attributed by the pension benefit formula. The amount of benefits to be paid depends on a number of future events incorporated into the pension benefit formula, including estimates of the average life of employees or survivors and average years of service rendered. It is measured based on assumptions concerning future interest rates and future employee compensation levels. Unrecognized prior service credits and costs and net actuarial gains and losses are recognized as a component of other comprehensive loss, net of tax.
 
Defined Contribution Plan
 
The Company provides a
401
(k) retirement savings plan covering substantially all of it employees. Discretionary company-matching contributions are determined by the Board of Directors.
Income Tax, Policy [Policy Text Block]
Income Taxes
 
The Company utilizes the asset-liability method of accounting for income taxes. Under the asset-liability method, deferred taxes reflect the temporary differences between the financial and tax basis of assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent that management believes it is more-likely-than-
not
that such deferred tax assets will
not
be realized. The Company evaluates tax positions taken or expected to be taken in the course of preparing its financial statements to determine whether the tax positions are “more-likely-than-
not”
of being sustained by the applicable tax authority. The Company records interest and penalties for underpayment of income taxes as income tax expense.
Earnings Per Share, Policy [Policy Text Block]
Earnings per Share
 
The Company computes earnings per share based on the weighted number of shares of common stock and dilutive potential common share equivalents outstanding. This includes all issued and outstanding share-based payments.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]
Long-lived Asset Impairment
 
Long-lived assets, such as property, plant, and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not
be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company will compare the undiscounted cash flows expected to be generated by that asset to its carrying amount. If the carrying amount of the long-lived asset is
not
recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and
third
-party independent appraisals. Impairment is displayed under the caption “Operating expenses” in the Company’s Consolidated Statements of Comprehensive Income.
Debt, Policy [Policy Text Block]
Debt Issuance Costs and Discounts
 
Debt issuance costs are capitalized and amortized to interest expense using the effective interest method over the term of the related instruments. Debt discounts are accreted to interest expense using the effective interest method. Debt issuance costs and debt discounts are presented as a direct deduction from the carrying amount of debt on the Company’s Consolidated Balance Sheet.
Regulatory Accounting and Regulation, Policy [Policy Text Block]
Regulatory Accounting and Regulation
 
Certain activities of the Company are subject to rate regulation by the FCC for interstate telecommunication service and the Regulatory Commission of Alaska (“RCA”) for intrastate and local exchange telecommunication service. The Company, as required by the FCC, accounts for such activity separately. Long distance services of the Company are subject to regulation as a non-dominant interexchange carrier by the FCC for interstate telecommunication services and the RCA for intrastate telecommunication services. Wireless, Internet and other non-common carrier services are
not
subject to rate regulation.
Utility, Revenue and Expense Recognition, Policy [Policy Text Block]
Taxes Collected from Customers and Remitted to Government Authorities
 
The Company excludes taxes collected from customers and payable to government authorities from revenue. Taxes payable to government authorities are presented as a liability on the Consolidated Balance Sheet.
Derivatives, Policy [Policy Text Block]
Derivative Financial Instruments
 
The Company does
not
enter into derivative contracts for speculative purposes. The Company recognizes all asset or liability derivatives at fair value. The accounting for changes in fair value is contingent on the intended use of the derivative and its designation as a hedge. Derivatives that are
not
hedges are adjusted to fair value through earnings. If a derivative is a hedge, depending on the nature of the hedge, changes in fair value either offset the change in fair value of the hedged assets, liabilities or firm commitments through earnings, or are recognized in “Other comprehensive income (loss)” until the hedged transaction is recognized in earnings. On the date a derivative contract is entered into, the Company designates the derivative as either a fair value or cash flow hedge. The Company formally assesses, both at the hedge's inception and on an on-going basis, whether the derivatives that are used in hedging transactions are effective in offsetting changes in the fair values or cash flows of hedged items. If the Company determines that a derivative is
not
effective as a hedge or that it has ceased to be effective, the Company discontinues hedge accounting prospectively. Amounts recorded to accumulated other comprehensive loss from the date of the derivative’s inception to the date of ineffectiveness are amortized to earnings over the remaining term of the hedged item. If the hedged item is settled prior to its originally scheduled date, any remaining accumulated comprehensive loss associated with the derivative instrument is reclassified to earnings. Termination of a derivative instrument prior to its scheduled settlement date
may
result in charges for termination fees.
Dividend, Policy [Policy Text Block]
Dividend Policy
 
The Company’s dividend policy is set by the Company’s Board of Directors and is subject to the terms of its credit facilities and the continued current and future performance and liquidity needs of the Company. Dividends on the Company’s common stock are
not
cumulative to the extent they are declared. As of the date of the financial statements, the Board had
not
authorized the payment of a dividend since
2012.
See Note
21
Subsequent Events
” for information regarding a
one
-time dividend declared in the
first
quarter of
2020.
Share Repurchase Program [Policy Text Block]
Share Repurchase Program
 
In the
first
quarter of
2017,
the Company’s Board of Directors authorized a share repurchase program pursuant to which the Company could repurchase up to
$10,000
of its common stock effective
March 13, 2017
through
December 31, 2019.
Under the program, repurchases could be conducted through open market purchases or through privately-negotiated transactions in accordance with all applicable securities laws and regulations, including through Rule
10b5
-
1
trading plans. The timing and amount of repurchases was determined based on the Company’s evaluation of its financial position including liquidity, the trading price of its stock, debt covenant restrictions, general business and market conditions and other factors. The Company used cash on hand to fund share repurchases. Share repurchases are accounted for as treasury stock.
 
As of
December 31, 2019,
the Company had repurchased
1
million shares under the program at a weighted average price of
$1.81
per share with an aggregate value of
$1,812.
 
Concentration Risk, Credit Risk, Policy [Policy Text Block]
Concentrations of Risk
 
Cash is maintained with several financial institutions. Deposits held with banks
may
exceed the amount of insurance provided on such deposits and the Company enters into arrangements to collateralize these amounts with securities of the underlying financial institutions. Generally, these deposits
may
be redeemed upon demand. The Company has
not
experienced any losses on such deposits.
 
The Company also depends on a limited number of suppliers and vendors for equipment and services for its network. The Company’s subscriber base and operating results could be adversely affected if these suppliers experience financial or credit difficulties, service interruptions, or other problems.
 
As of
December 31, 2019,
approximately
54%
of the Company’s employees are represented by the International Brotherhood of Electrical Workers, Local
1547
(“IBEW”). The Master Collective Bargaining Agreement (“CBA”) between the Company and the IBEW, which is effective through
December 31, 2023,
governs the terms and conditions of employment for all IBEW represented employees working for the Company in the state of Alaska and has significant economic impacts on the Company as it relates to wage and benefit costs and work rules that affect our ability to provide superior service to our customers. The Company considered relations with the IBEW to be stable in
2019;
however, any deterioration in the relationship with the IBEW would have a negative impact on the Company’s operations.
 
The Company provides voice, broadband and managed IT services to its customers throughout Alaska. Accordingly, the Company’s financial performance is directly influenced by the competitive environment in Alaska, and by economic factors specifically in Alaska. The most significant economic factor is the level of Alaskan oil production and the per barrel price of relevant crude oil. A significant majority of the state’s unrestricted revenue comes from taxes assessed upon the production of this resource, and the price of crude oil impacts the level of investment by resource development companies. The drop in crude oil prices in recent years has resulted in the State of Alaska reducing its spending, which had a dampening impact on the overall state economy. In
2018,
oil prices recovered to their highest levels since
2014,
but declined marginally in
2019.
Employment levels declined in
2016
through
2018
and grew in
2019.
Other important factors influencing the Alaskan economy include the level of tourism, government spending, and the movement of United States military personnel. Any further deterioration in these factors, particularly over a sustained period of time, would likely have a negative impact on the Company’s performance. 
 
As an entity that relies on the Federal Communications Commission (“FCC”) and state regulatory agencies to provide stable funding sources to provide services in high cost areas, the Company is also impacted by any changes in regulations or future funding mechanisms that are being established by these regulatory agencies. In
2019,
9%
of the Company’s total revenues were derived from high cost support and
6%
were derived from the rural health care universal service support mechanism.
 
The Company considers the vulnerabilities of its network and IT systems to various cyber threats. While the Company has implemented several mitigating policies, technological safeguards and some insurance coverage, it is
not
possible to prevent every possible threat to its network and IT systems from deliberate cyber related attacks.
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted Accounting Pronouncements
 
Effective
January 1, 2019,
the Company adopted ASC
842,
Leases
” (“ASC
842”
) on a modified retrospective basis. Accordingly, information presented for periods prior to
2019
have
not
been recast. Adoption of ASC
842
resulted in the establishment of right of use (“ROU”) assets and associated liabilities totaling
$82,020
representing the Company’s right to use the underlying assets and the present value of the future lease payments over the terms of the Company’s operating leases. The Company elected the package of practical expedients, which among other things, does
not
require reassessment of lease classification. Adoption of ASC
842
did
not
have a material effect on the Company’s finance leases and its consolidated statements of Comprehensive Income and Cash Flows. See Note
11
Leases
” for a summary of the Company’s lease accounting policies and other disclosures required under ASC
842.
 
Effective
January 1, 2019,
the Company adopted Accounting Standards Update (“ASU”)
No.
2017
-
12,
Derivatives and Hedging (Topic
815
), Targeted Improvements to Accounting for Hedging Activities
” (ASU
2017
-
12”
) on a prospective basis. The new guidance eliminates the requirement to separately measure and report hedge ineffectiveness and, for qualifying hedges, requires the entire change in the fair value of the hedging instrument to be presented in the same income statement line as the hedged item. The Company’s hedges, consisting of a pay-fixed, receive-floating interest rate swaps, are fully effective. Therefore, adoption of ASU
2017
-
12
did
not
have any impact on the Company’s financial statements. See Note
7
Fair Value Measurements
” for the disclosures required by ASU
2017
-
12.
 
Effective
January 1, 2019,
the Company adopted ASU
No.
2018
-
16,
Derivatives and Hedging (Topic
815
), Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes
” (“ASU
2018
-
16”
). Permitting use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes will facilitate the London Interbank Offered Rate (“LIBOR”) to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies. ASU
2018
-
16
was required to be adopted concurrently with ASU
2017
-
12.
Adoption of ASU
2018
-
16
did
not
affect the Company’s financial statements and related disclosures.
 
Accounting Pronouncements Issued
Not
Yet Adopted
 
In
June 2016,
the Financial Accounting Standards Board (“FASB”) issued ASU
No.
2016
-
13,
“Financial Instruments – Credit Losses (Topic
326
), Measurement of Credit Losses on Financial Instruments”
(“ASU
2016
-
13”
). The amendments in ASU
2016
-
13,
and subsequent amendments, introduce a forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including trade receivables. ASU
2016
-
13
is effective for the Company’s
2023
fiscal year and early adoption is permitted. Adoption on a modified-retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption is required. The Company is evaluating the effect ASU
2016
-
13
and subsequent updates will have on its financial statements and related disclosures.
 
In
August 2018,
the FASB issued ASU
No.
2018
-
13,
Fair Value Measurement (Topic
820
), Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement
” (“ASU
2018
-
13”
). The amendments in ASU
2018
-
13
are intended to improve the effectiveness of fair value measurement disclosures in the notes to the financial statements. The new guidance eliminates the requirement to disclose (i) the amount and reasons for transfers between Level
1
and Level
2
of the fair value hierarchy; (ii) the policy for timing of transfers between levels; and (iii) the valuation processes for Level
3
fair value measurements. The new guidance also requires the disclosure of (i) changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level
3
fair value measurements held at the end of the reporting period; and (ii) the range and weighted average of significant unobservable inputs used to develop Level
3
fair value measurements. ASU
2018
-
13
is effective for fiscal years beginning after
December 15, 2019
and early adoption is permitted. Adoption on a retrospective basis to all periods presented is required. The Company is evaluating ASU
2018
-
13
and, based on its existing assets and liabilities measured at fair value, does
not
currently believe that adoption will have a material effect on its financial statements and related disclosures.
 
In
August 2018,
the FASB issued ASU
No.
2018
-
14,
Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic
715
-
20
), Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans
” (“ASU
2018
-
14”
). The amendments in ASU
2018
-
14
are intended to improve the effectiveness of disclosures in the notes to the financial statements about employer-sponsored defined benefit plans. The new guidance eliminates, among other items, the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year. Expanded disclosures required under ASU
2018
-
14
include an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. ASU
2018
-
14
is effective for fiscal years beginning after
December 15, 2020
and early adoption is permitted. Adoption on a retrospective basis to all periods presented is required. The Company is evaluating the effect ASU
2018
-
14
will have on its disclosures.
 
In
August 2018,
the FASB issued ASU
No.
2018
-
15,
Intangibles – Goodwill and Other – Internal-Use Software (Subtopic
350
-
40
), Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract
” (“ASU
2018
-
15”
). The amendments in ASU
2018
-
15
align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with those incurred to develop or obtain internal-use software, including hosting arrangements that include an internal-use software license. ASU
2018
-
15
is effective for fiscal years beginning after
December 15, 2019
and early adoption is permitted. Adoption
may
be applied on either a retrospective or prospective basis. The Company is evaluating the effect ASU
2018
-
15
will have on its financial statements and related disclosures.
 
In
December 2019,
the FASB issued ASU
No.
2019
-
12,
Income Taxes (Topic
740
), Simplifying the Accounting for Income Taxes
” (“ASU
2019
-
12”
). The amendments in ASU
2019
-
12
remove certain exceptions to the general principals of Topic
740
and improve and simplify other areas of Topic
740.
ASU
2019
-
12
is effective for fiscal years beginning after
December 15, 2020
and early adoption is permitted. Adoption is to be applied on a retrospective, modified-retrospective or prospective basis based on the specific amendment in the update. The Company is evaluating the effect ASU
2019
-
12
will have on its financial statements and related disclosures and doesn’t currently expect the effect to be material.