Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2019

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

Note 4 - Recent Accounting Pronouncements

We consider the applicability and impact of all Accounting Standards Updates ("ASU") issued by the Financial Accounting Standards Board. Those not listed below were deemed to be either not applicable, are not expected to have a significant impact on our consolidated financial statements when adopted, or did not have a significant impact on our consolidated financial statements upon adoption.

Accounting Standard	Description
ASU 2018–07, Improvements to Non-employee Share –Based Payment Accounting (Topic 718)	The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The standard largely aligns the accounting for share–based payment awards issued to employees and non-employees. Equity–classified share–based payment awards issued to non-employees are measured on the grant date, instead of being remeasured through the performance completion date (generally the vesting date). The standard was applied on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year when adopted. The cumulative effective adjustment was recorded in our consolidated statement of stockholders' equity as of January 1, 2019, and did not have a material impact on the Company's financial condition or results of operations.
ASU 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash	This standard was adopted in 2018, which resulted in the presentation of cash collateral posted to counterparties with cash on the consolidated statements of cash flows when reconciling the total beginning and ending amounts. Prior period results have been revised to conform to the current presentation.
ASU 2016-13, Financial Instruments–Credit Losses (Topic 326)	The standard introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The standard will apply to (1) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (2) loan commitments and certain other off–balance sheet credit exposures, (3) debt securities and other financial assets measured at fair value through other comprehensive income, and (4) beneficial interests in securitized financial assets. The standard is effective for fiscal years beginning after December 15, 2019. The adoption of the standard did not have a significant impact on the Company's Agency Securities as the contractual cash flows of these federal agency mortgage backed securities are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than their amortized cost. The Company does not intend to sell the investments and it is not more likely than not that it will be required to sell the investments before recovery of their amortized cost bases.