Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements Adopted

In

August 2018,

the Financial Accounting Standards Board (“FASB”) issued ASU

No.

2018

-

15,

 

Intangibles—Goodwill and Other—Internal-Use Software

 (Subtopic

350

-

40

): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU

2018

-

15”

). ASU

2018

-

15

helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance on accounting for implementation costs when the cloud computing arrangement does

not

include a license and is accounted for as a service contract. The amendments in ASU

2018

-

15

require an entity (customer) in a hosting arrangement to assess which implementation costs to capitalize vs expense as it relates to a service contract.  The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. ASU

2018

-

15

is effective for fiscal years beginning after

December 15, 2019,

and interim periods within those fiscal years. The Company adopted ASU

2018

-

15

in the

first

quarter of

2020

 to all implementation costs incurred after the date of adoption. The new guidance did

not

have a material impact on our consolidated financial statements.

Recent Accounting Pronouncements

Not

Yet Adopted

In

March 2020,

the FASB issued ASU

No.

2020

-

04,

Reference Rate Reform

(Topic

848

): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU

2020

-

04”

), which provides optional guidance for a limited period of time to ease the potential burden of reference rate reform on financial reporting.  The amendments in ASU

2020

-

04

apply to contract modifications that replace a reference rate affected by reference rate reform and contemporaneous modifications of other contract terms related to the replacement of the reference rate. The following optional expedients for applying the requirements of certain Topics or Industry Subtopics in the Codification are permitted for contracts that are modified because of reference rate reform and that meet certain scope guidance:

1.	Modifications of contracts within the scope of Topics 310, Receivables, and 470, Debt, should be accounted for by prospectively adjusting the effective interest rate.
2.	Modifications of contracts within the scope of Topic  842, Leases, should be accounted for as a continuation of the existing contracts with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required under those Topics for modifications not accounted for as separate contracts.
3.	Modifications of contracts do not require an entity to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract under Subtopic 815 - 15, Derivatives and Hedging— Embedded Derivatives

The amendments in ASU

2020

-

04

are effective for all entities as of

March 12, 2020

through

December 31, 2022.

The Company is currently charged interest and standby fees associated with its

2019

Amended Credit Facility (as defined below) based on LIBOR, which will need to be amended when an alternative reference rate is chosen, at which time we

may

adopt some of the practical expedients provided by ASU

2020

-

04.