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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
Basis of Presentation
 
The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. We believe such statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of our financial position, results of operations and cash flows at the dates and for the periods indicated. Pursuant to the requirements of the Securities and Exchange Commission (SEC) applicable to quarterly reports on Form
10
-Q, the accompanying financial statements do
not
include all disclosures required by GAAP for annual financial statements. While we believe the disclosures presented are adequate to make the information
not
misleading, these unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our Annual Report on Form
10
-K for the year ended
December 31, 2018.
Operating results for the periods presented in this report are
not
necessarily indicative of the results that
may
be expected for the calendar year ending
December 31, 2019,
or any other interim period. Our business is somewhat seasonal with slightly higher freight volumes typically experienced during
August
through early
November
in our full-load freight transportation business.
New Accounting Pronouncements, Policy [Policy Text Block]
Accounting Prono
uncement
Adopted in
201
9
                                                                                             
 
In
February 2016,
the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)
2016
-
02,
Leases, which requires lessees to recognize a right-of-use asset and a lease liability for most leases on the balance sheet as well as other qualitative and quantitative disclosures. ASU
2016
-
02
is to be applied using a modified retrospective method and was effective for us on
January 1, 2019.
In
July 2018,
the FASB issued ASU
2018
-
11,
Leases, which provides an optional transition method allowing entities to recognize a cumulative-effect adjustment to the opening balance of stockholders’ equity in the period of adoption, with
no
restatement of comparative prior periods required. We adopted the standard using this optional transition method.
 
The FASB has provided certain practical expedients in applying the standard. Of the allowed practical expedients within the standard applicable to our operations, we elected the package of practical expedients, which among other things, allowed us to carry forward the historical lease classification upon adoption of the standard. We did
not
elect the hindsight practical expedient when determining the lease term for existing leases. In addition, we did
not
separate nonlease components from lease components by class of underlying assets where appropriate and we did
not
apply the recognition requirements of the standard to short-term leases, as allowed by the standard.
 
Upon adoption of the standard we recorded offsetting lease assets and lease liabilities on our Consolidated Balance Sheet in the amount of
$102.4
million, as of
January 1, 2019.
The adoption of the standard did
not
have a material impact on our earnings or debt covenant compliance and
no
impact on our cash flows.