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Note 10 - Developments in Accounting Pronouncements
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
Note
10.
    Developments in Accounting Pronouncements
 
Accounting Standards Updates Adopted
 
In
February 2016,
the FASB issued ASU
No.
2016
-
02
Leases (Topic
842
). The update modified the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update was effective for fiscal years beginning after
December 15, 2018,
with early adoption permitted. We adopted the guidance effective
January 1, 2019,
and recognized a liability and right-of-use asset of
$22.4
million as of that date for our identified operating leases. We elected the transition option to apply the new guidance as of that effective date without adjusting comparative periods presented. In the adoption of ASU
No.
2016
-
02,
we elected to
not
assess leases with terms less than
twelve
months in length. We also elected practical expedients which permitted us to forgo reassessing the following upon adoption: (i) whether any expired or existing contracts are or contain leases, (ii) the classification of leases as operating or capital under the previous accounting guidance, and (iii) treatment of initial indirect costs for any existing leases. In addition, we elected to
not
reassess whether land easements represent leases, as we did
not
treat them as leases under the previous guidance. See
Note
9
for information on our leases.
 
In
August 2017,
the FASB issued ASU
No.
2017
-
12
Derivatives and Hedging (Topic
815
): Targeted Improvements to Accounting for Hedging Activities. The objective of the update is to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements, and simplify the application of existing hedge accounting guidance. The update was effective for fiscal years beginning after
December 15, 2018,
and interim periods within those fiscal years, with early adoption permitted. Adoption of this update as of
January 1, 2019
did
not
have a material impact on our consolidated financial statements.
 
In
February 2018,
the FASB issued ASU
No.
2018
-
02
Income Statement - Reporting Comprehensive Income (Topic
220
): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in the update allow a reclassification from other comprehensive income to retained earnings for "stranded" tax effects resulting from the reduction in the historical corporate tax rate under the Tax Cuts and Jobs Act enacted in
December 2017.
The update was effective for fiscal years beginning after
December 15, 2018.
We elected to
not
reclassify stranded tax effects, and adoption of this update as of
January 1, 2019
did
not
have a material impact on our consolidated financial statements.
 
In
June 2018,
the FASB issued ASU
No.
2018
-
07
Compensation - Stock Compensation (Topic
718
): Improvements to Nonemployee Share-Based Payment Accounting. The update involves simplification of several aspects of accounting for nonemployee share-based payment transactions by expanding the scope of Topic
718
to include nonemployee awards. The update was effective for fiscal years beginning after
December 15, 2018,
and interim periods within those fiscal years, with early adoption permitted. Adoption of this update as of
January 1, 2019
did
not
have a material impact on our consolidated financial statements.
 
Accounting Standards Updates to Become Effective in Future Periods
 
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. The update removes, modifies and makes additions to certain disclosure requirements with respect to fair value measurements. The update is effective for fiscal years beginning after
December 15, 2019,
with early adoption permitted. We are evaluating the impact of this update on our fair value measurement 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. The update removes several disclosure requirements, adds
two
new disclosure requirements, and clarifies other disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The update is effective for fiscal years beginning after
December 15, 2020,
with early adoption permitted. We are evaluating the impact of this update on our disclosures involving our defined benefit pension plans.