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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
 
In
May
2014,
the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No.
2014
-
09,
Revenue from Contracts with Customers
, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This standard will replace most existing revenue recognition guidance when it becomes effective. The standard permits the use of either the full retrospective or modified retrospective transition methods. In
August
2015,
the FASB issued an update to defer the effective date of this update by
one
year. The updated standard becomes effective for the Company in the
first
quarter of
2018,
but allows the Company to adopt the standard
one
year earlier if it so chooses. The Company expects to adopt the standard in the
first
quarter of
2018
using the modified retrospective transition method. The Company is continuing to evaluate its revenue sources for potential impact. Based on the work completed to date, the Company expects that for a significant portion of its business, the recognition of revenue under the updated standard will occur at a point in time, which is consistent with current practice.
 
In
February
2016,
the FASB issued ASU No. 
2016
-
02,
Leases.
The guidance in this ASU supersedes the leasing guidance in Topic
840,
Leases
. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for those leases previously classified as operating leases. The amendments in ASU No. 
2016
-
02
are effective for annual reporting periods beginning after
December
 
15,
2018,
including interim periods within that reporting period with early adoption permitted. The Company is evaluating the impact of adopting this ASU on its consolidated financial position and results of operations.
 
In
March
2016,
the FASB issued ASU No.
2016
-
09,
Improvements to Employee Share Based Payment Accounting
. This ASU simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards, forfeitures and classification on the statement of cash flows. The provisions of this ASU are effective for fiscal years beginning after
December
15,
2016,
and interim periods within those fiscal years. The Company adopted this ASU on
January
1,
2017.
As the Company has not had a significant amount of forfeitures historically, under the provisions of this ASU the Company has elected to account for forfeitures as they occur, rather than estimate expected forfeitures. The impact of adopting this update to the Company’s Consolidated Financial Statements will depend on market factors and the timing and intrinsic value of future share-based compensation award vests and exercises. Subsequent to adoption, the Company notes the potential for volatility in its effective tax rate as any windfall or shortfall tax benefits related to its share-based compensation plans will be recorded directly to income tax expense in the Condensed Consolidated Statement of Income.
Revisions Policy [Policy Text Block]
Revisions
 
Certain revisions have been made to the
2016
Condensed Consolidated Statement of Cash Flows to conform to the current year presentation relating to a reserve for uncertain tax positions and to cash paid for capital expenditures. The reclassification of a reserve for uncertain tax positions resulted in an increase to the change in refundable income taxes of
$315,000
and a decrease to the change in accrued expenses of
$315,000.
A change in presentation of cash paid for capital expenditures resulted in a decrease of
$
105,000
in both the change in accounts payable and in additions to property, plant and equipment, net. These revisions had no impact on previously reported net income and are deemed immaterial to the previously issued financial statements.