New Authoritative Accounting Guidance

6 Months Ended

Jun. 30, 2015

New Authoritative Accounting Guidance [Abstract]

New Authoritative Accounting Guidance

NOTE 11:  NEW AUTHORITATIVE ACCOUNTING GUIDANCE

In January 2015, FASB issued Accounting Standard Update No. 2015-01,  Income Statement—Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items; (“ASU 2015-01”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have an impact on the financial statements.

In February 2015, FASB issued Accounting Standard Update No. 2015-02,  Consolidation: Amendments to the Consolidation Analysis; (“ASU 2015-02”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In April 2015, FASB issued Accounting Standard Update No. 2015-03, Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs; (“ASU 2015-03”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In April 2015, FASB issued Accounting Standard Update No. 2015-04, Compensation—Retirement Benefits: Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets; (“ASU 2015-04”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In April 2015, FASB issued Accounting Standard Update No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software: Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement; (“ASU 2015-05”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In April 2015, FASB issued Accounting Standard Update No. 2015-06, Earnings Per Share: Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions; (“ASU 2015-06”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In May 2015, FASB issued Accounting Standard Update No. 2015-07, Fair Value Measurement: Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share; (“ASU 2015-07”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In May 2015, FASB issued Accounting Standard Update No. 2015-08, Business Combinations: Pushdown Accounting, Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115; (“ASU 2015-08”). The ASU does not require new recurring disclosures. The guidance becomes effective upon issuance, and it is not expected to have a material impact on the financial statements.

In May 2015, FASB issued Accounting Standard Update No. 2015-09, Financial Services—Insurance: Disclosures about Short-Duration Contracts; (“ASU 2015-09”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016, and it is not expected to have a material impact on the financial statements.

In June 2015, FASB issued Accounting Standard Update No. 2015-10, Technical Corrections and Improvements; (“ASU 2015-10”). The ASU does not require new recurring disclosures. The guidance becomes effective for us on January 1, 2016 for transition guidance and upon issuance for all other, and it is not expected to have a material impact on the financial statements.