XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Changes in Accounting Policies | 9 Months Ended
--- | ---
Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract] |
Changes in Accounting Policies | Changes in Accounting Policies In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers," which amends the accounting guidance related to revenues. This amendment replaced most of the existing revenue recognition guidance. The new standard, as amended in July 2015, is effective for fiscal years beginning after December 15, 2017, and interim periods therein. The standard permits the use of either the retrospective or cumulative effect transition method. We adopted this standard utilizing a cumulative effect transition method effective January 2018. While the adoption of the new standard did not have a significant effect on earnings or on the timing of our most significant types of transactions, we made the following changes to our revenue policies:
• | A portion of the transaction price related to sales of finance and insurance contracts is considered variable consideration and subject to accelerated recognition under the new standard. Accordingly, we recognized a $9.2 million asset associated with future estimated variable consideration and a net of tax increase to retained earnings of $6.5 million. We do not believe there will be a significant impact to future revenue recognized.
• | The adoption of the new standard clarifies the determination and capitalization of direct costs incurred. As a result, we reassessed the method used to capitalize and amortize direct costs associated with the sale of lifetime lube, oil and filter contracts, which resulted in a $7.2 million reduction in prepaid commissions and a net of tax $5.1 million reduction to retained earnings.
These changes had an immaterial effect on our Consolidated Statements of Operations and the following impact on our Consolidated Balance Sheets (in thousands):
|  | As Reported |  |  |  | Balances without the adoption of Topic 606
Impact on Consolidated Balance Sheets |  | September 30, 2018 |  | Adjustments |
Accounts receivable, net |  | $ | 470,689 |  |  | $ | (3,631 | ) |  | $ | 467,058 |
Other current assets |  | 47,648 |  |  | (1,732 | ) |  | 45,916 |
Other non-current assets |  | 487,171 |  |  | 4,835 |  |  | 492,006 |
Total Assets |  | 5,174,569 |  |  | (528 | ) |  | 5,174,041 |
Accrued Liabilities |  | 259,825 |  |  | 313 |  |  | 260,138 |
Deferred income taxes |  | 77,684 |  |  | (599 | ) |  | 77,085 |
Total Liabilities |  | 3,969,427 |  |  | (286 | ) |  | 3,969,141 |
Retained earnings |  | 1,109,017 |  |  | (242 | ) |  | 1,108,775 |
Total Liabilities and Stockholders' Equity |  | 5,174,569 |  |  | (528 | ) |  | 5,174,041 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
Name: | us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration