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ACCOUNTING CHANGES | 12 Months Ended
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Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract] |
ACCOUNTING CHANGES | ACCOUNTING CHANGES
Standard |  | Description |  | Effect on the Financial Statements or Other Significant Matters
Accounting standards updates ("ASU") that were adopted effective January 1, 2018
ASU 2017-12: Derivatives and Hedging (Topic 815) |  | Requires that an entity align its risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. This guidance expands and refines hedge accounting for both financial and commodity risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. |  | The adoption of this guidance affects the designation and measurement guidance for qualifying hedging relationships and the method of presenting hedge results, including the addition of a tabular disclosure related to the effect on the income statement of fair value and cash flow hedges and no longer measuring and reporting hedge ineffectiveness. We early adopted this guidance using a modified retrospective approach effective April 1, 2018 with an initial application date of January 1, 2018 with no adjustment to Accumulated Deficit. See Note 10, Long-Term Debt and Capital Leases for additional disclosure.
ASU 2017-09: Compensation - Stock Compensation (Topic 718) |  | Requires that an entity should account for the effects of a modification to an award unless all of the following conditions are met: the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; the vesting conditions of the modified award are the same as the vesting conditions immediately before the original award is modified; and the classification of modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. |  | The adoption of this guidance could affect equity compensation expense and net income if there is a modification of an award.
ASU 2016-18: Statement of Cash Flows (Topic 230) |  | Requires that an entity should explain the change during the period of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. |  | The adoption of this guidance is retrospective to each period presented. As a result of this adoption, we reclassified $1,347 of restricted cash from net cash used in investing activities in fiscal year 2016.
ASU 2016-01, as amended through March 2018: Financial Instruments - Overall (Topic 825-10) |  | Requires the following: (1) equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (2) entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (3) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (4) the elimination of the disclosure requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. |  | The adoption of this guidance resulted in a cumulative-effect adjustment to Accumulated Deficit, recognition of the change in fair value of certain equity investments in net income, and enhanced disclosure. The adoption of this guidance did not have a material impact on our consolidated financial statements.
ASU 2014-09, as amended through November 2017: Revenue from Contracts with Customers (Topic 606) |  | The core principle of the guidance is that using a five step methodology an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires enhanced qualitative and quantitative disclosure regarding revenue recognition from customer contracts. |  | We adopted the guidance using the modified retrospective approach effective January 1, 2018 with no adjustment to Accumulated Deficit. We adopted the standard through the application of the portfolio approach. We selected a sample of customer contracts to assess under the guidance of the new standard that were characteristically representative of each portfolio. Upon completion of our review, the guidance did not result in a significant change to the timing of revenue recognition. We identified certain immaterial sales commissions, which represent costs of obtaining a contract, that should be capitalized as contract acquisition costs under the guidance and amortized to general and administration expense over the expected life of the customer contract. Based on the immateriality of these sales commissions, no adjustment to Accumulated Deficit nor the accounting of these costs was deemed necessary. See Note 4, Revenue Recognition for additional disclosure.
Standard |  | Description |  | Effect on the Financial Statements or Other Significant Matters
Accounting standards that are pending adoption at December 31, 2018
ASU 2018-16: Derivatives and Hedging (Topic 815) |  | Allows an entity to use the overnight index swap ("OIS") rate as a benchmark interest rate for hedge accounting purposes in conjunction with ASU 2017-12: Derivatives and Hedging. |  | The adoption of this guidance is not expected to have a material impact on our consolidated financial statements as we do not have any hedges that use the OIS as a benchmark interest rate. This guidance is effective January 1, 2019 because we early adopted ASU 2017-12: Derivatives and Hedging, with an initial application date of January 1, 2018.
ASU 2017-04: Intangibles - Goodwill and Other (Topic 350) |  | Requires that when an entity is performing its annual, or interim, goodwill impairment test, it should compare the fair value of the reporting unit with its carrying amount when calculating its impairment charge, noting that the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, if applicable, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when calculating its impairment charge. |  | As of December 31, 2018, we did not record a goodwill impairment charge related to our annual goodwill impairment test because at that time the fair value of each reporting unit exceeded its respective carrying value. Upon adoption, if the carrying value of any of these reporting units exceeds the fair value when we perform a goodwill impairment test, we would record an impairment charge equal to the amount by which the carrying value exceeds its fair value. This guidance is effective January 1, 2020 with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017.
ASU 2016-02, as amended through December 2018: Leases (Topic 842) |  | Requires that a lessee recognize at the commencement date: a lease liability, which is the obligation of the lessee to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. |  | We adopted the guidance using the prospective optional transition method effective January 1, 2019, which allows us to elect not to restate comparative periods and recognize the effects of applying this guidance as a cumulative-effect adjustment to retained earnings as of January 1, 2019. Upon adopting this guidance, we will recognize a right-of-use asset and a lease liability for leases classified as operating leases with a term in excess of 12 months in our consolidated balance sheet. As a part of the implementation, we have applied the practical expedient package. The practical expedient package allowed us to: 1) not reassess lease classification for existing leases; 2) not reassess whether a contract contains a lease for existing contracts; and 3) not reassess initial direct costs for existing leases. With the assistance of third-party resources, we designed internal controls over the adoption of this guidance and implemented a third-party enterprise lease management software solution. In conjunction with this, we have modified our lease policy and internal business process to effectively manage and account for leases as well as support recognition and disclosure under the new standard. As of January 1, 2019, we expect to recognize a right-of-use asset for operating leases of between approximately $106,000 and $121,000 and a corresponding lease liability of between approximately $76,000 and $91,000 with the difference primarily associated with prepaid amounts for certain landfill operating leases that will be reclassified from property, plant and equipment. We do not expect to recognize a material cumulative effect adjustment to retained earnings and we do not expect the adoption of this guidance to have a material impact on our consolidated statements of operations or our consolidated statements of cash flows. We also do not expect that the adoption of this guidance will have a material impact on the accounting for our finance leases. This guidance will require additional disclosures over leases in order to comply with the standard.

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