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Note 2 - Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Significant Accounting Policies [Text Block]
Note 2. Summary of Significant Accounting Policies
 
Fair Value of Financial Instruments
 
The Company's financial instruments, including cash and cash equivalents, contract receivables, and accounts payable are carried at cost, which the Company believes approximates their fair values at March 31, 2016 and December 31, 2015, due to their short maturities. The Company believes the carrying value of other long-term liabilities related to capital expenditure obligations approximates their fair value at March 31, 2016 and December 31, 2015 based on the current rates offered to the Company for similar instruments with comparable maturities. The Company believes the carrying value of its lines of credit payable at March 31, 2016 and December 31, 2015 approximate the estimated fair value for debt with similar terms, interest rates, and remaining maturities currently available to companies with similar credit ratings.
 
 
 
Recent Accounting Pronouncements
 
Accounting Pronouncements Adopted
During the first quarter of 2016, the Company elected to early-adopt ASU 2015-17,
Balance Sheet Classification of Deferred Taxes
(Topic 740)
on a retrospective basis
.
As required by ASU 2015-17, all deferred tax assets and liabilities are classified as non-current within the consolidated balance sheets. As a result of the adoption of ASU 2015-17, the Company reclassified $8.0 million in current deferred tax liabilities to long-term liabilities within the consolidated balance sheet at December 31, 2015. In addition, during the first quarter of 2016 the Company also adopted ASU 2015-05,
Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (Subtopic 350-40)
and
ASU 2015-16,
Simplifying the Accounting for Measurement-Period Adjustments (Topic 805)
on a prospective basis, which did not have a material impact on the Company’s consolidated financial statements.
 
 
Accounting Pronouncements Not Yet Adopted
In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09,
Revenue from Contracts with Customers (Topic 606)
. ASU 2014-09 provides a single comprehensive revenue recognition framework and supersedes almost all existing revenue recognition guidance. Included in the new principles-based revenue recognition model are changes to the basis for deciding on the timing for revenue recognition. In addition, the standard expands and improves revenue disclosures. In August 2015, the FASB issued ASU 2015-14,
Revenue from Contracts with Customers (Topic 606)
: Deferral of Effective Date
, to amend ASU 2014-09 to defer the effective date of the new revenue recognition standard. As a result, ASU 2014-09 is effective for the Company for its fiscal year 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. The Company is currently evaluating the impact of adopting ASU 2014-09.
 
In February 2016, the FASB issued ASU 2016-02,
Leases (Topic 842).
This update revises an entity’s accounting for operating leases and requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. This update also requires certain qualitative and specific quantitative disclosures. ASU 2016-02 does not significantly change the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee. This update is effective for the Company for its fiscal year 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2016-02.
 
In March 2016, the FASB issued ASU 2016-09,
Improvements to Employee Share-Based Payment Accounting
(Topic 718)
. ASU 2016-09 simplifies and improves the accounting and reporting for share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for the Company for its fiscal year 2017, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2016-09.