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Note 11 - Recent Accounting and Reporting Developments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	11 . Recent Accounting and Reporting Developments There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company ’s Condensed Consolidated Financial Statements and disclosures in Notes to Condensed Consolidated Financial Statements, from those disclosed in the Company’s 2016 Form  10 -K, except for the following: Accounting Changes In July 2015, the F inancial Accounting Standards Board (“FASB”) issued Accounting Standards Update No.   2015 - 11, “Inventory (Topic  330 ): Simplifying the Measurement of Inventory” (“ASU  2015 - 11” ). As a result of ASU  2015 - 11, companies are required to measure inventory at the lower of cost and net realizable value. This is a change from the prior requirement to value inventory at the lower of cost or market. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Inventory valued using the last-in, first -out or retail inventory method is exempt from ASU 2015 - 11. The Company adopted this guidance prospectively on January  1, 2017 and the impact was not material to the Company’s financial position, results of operations or cash flows. In March 2016, the FASB issued Accounting Standards Update No.   2016 - 09, “Compensation–Stock Compensation (Topic  718 ): Improvements to Employee Share-Based Payment Accounting” (“ASU  2016 - 09” ). ASU  2016 - 09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. As a result of the adoption of this guidance on January  1, 2017, on a prospective basis, the Company recognized $0.8  million of excess tax deficiencies from share-based compensation in Income tax benefit from continuing operations for the nine months ended September  30, 2017. Historically, these amounts were recorded as Additional paid-in capital. Recent Accounting Standards In May 2014, the FASB issued Accounting Standards Update No.   2014 - 09, “Revenue from Contracts with Customers (Topic  606 )” (“ASU  2014 - 09” ) which will replace most existing revenue recognition guidance in accordance with United States generally accepted accounting principles (“U.S. GAAP”). The core principle of ASU  2014 - 09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU  2014 - 09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU  2014 - 09 will be effective for the Company beginning January  1, 2018, including interim periods in 2018, and allows for both retrospective and prospective methods of adoption. During 2016 and 2017, the FASB issued several ASUs that clarify the implementation guidance for ASU  2014 - 09 but do not change the core principle of the guidance. The Company is currently finalizing its review of the impact of this revenue recognition guidance on its consolidated financial statements. To date, the Company has examined its revenue streams, and does not believe that the adoption of ASU  2014 - 09 will have a material impact on its revenue recognition patterns as compared to revenue recognition under the existing revenue guidance, as the Company expects that revenues generated will continue to be recognized over time utilizing the percent-complete measure of progress consistent with current practice. The Company will continue to evaluate the impacts of ASU  2014 - 09 through the date of adoption to ensure that its preliminary conclusions continue to remain accurate. Additionally, the Company anticipates it will expand its financial statement disclosures to comply with ASU  2014 - 09. The Company currently expects to adopt ASU  2014 - 09 on January  1, 2018 using the modified retrospective method. In February 2016, the FASB issued Accounting Standards Update No.   2016 - 02, “Leases (Topic  842 )” (“ASU  2016 - 02” ). ASU  2016 - 02 makes changes to U.S. GAAP, requiring the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases. For operating leases, the lease asset and lease liability will be initially measured at the present value of the lease payments in the balance sheet. The cost of the lease is then allocated over the lease term generally on a straight-line basis. All cash payments will be classified within operating activities in the statement of cash flows. For financing leases, the lease asset and lease liability will be initially measured at the present value of the lease payments in the balance sheet. Interest on the lease liability will be recognized separately from amortization of the lease asset in the statement of comprehensive income. In the statement of cash flows, repayments of the principal portion of the lease liability will be classified within financing activities, and payments of interest on the lease liability and variable payments will be classified within operating activities. For leases with terms of twelve months or less, a lessee is permitted to make an accounting policy election by asset class not to recognize lease assets and lease liabilities. Lease expense for such leases will be generally recognized straight-line basis over the lease term. The accounting applied by a lessor is largely unchanged from previous U.S. GAAP. ASU  2016 - 02 requires qualitative disclosures along with specific quantitative disclosures and will be effective for the Company beginning January  1, 2019, including interim periods in 2019. ASU  2016 - 02 provides for a transitional adoption, with lessees and lessors required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted, however the Company does not anticipate early adoption. The Company continues to evaluate the expected impact of this guidance on disclosures, but does not expect a material impact to the Company’s results of operations or cash flows. In March 2017, the FASB issued Accounting Standards Update No.   2017 - 07, “Compensation—Retirement Benefits (Topic  715 ): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU  2017 - 07” ), which requires that the service cost component of net benefit cost be presented in the same income statement line as other employee compensation costs, while the other components of net benefit cost are to be presented outside income from operations. ASU  2017 - 07 will be effective for the Company on a retrospective basis beginning January  1, 2018. The effect of adopting ASU  2017 - 07 will be the reclassification of the non-service cost components from Cost of sales to Other expense, resulting in an increase to Gross profit and Operating income. There is no impact to Income before income taxes or Net income, so therefore no impact to Net income per share. Upon adoption, the Company expects a decrease to Cost of sales and an increase to Other expense of $0.4  million for the year ended December  31, 2016. The Company is currently assessing the impact of adoption on its results of operations for the year ending December  31, 2017. In August 2017, the FASB issued Accounting Standards Update No.   2017 - 12, “Derivatives and Hedging (Topic  815 ): Targeted Improvements to Accounting for Hedging Activities” (“ASU  2017 - 12” ), which better aligns risk management activities and financial reporting for hedging relationships, simplifies hedge accounting requirements, and improves disclosures of hedging arrangements. ASU  2017 - 12 will be effective for the Company beginning January  1, 2019. Early adoption is permitted for any interim and annual financial statements that have not yet been issued. The Company is currently assessing the impact of this ASU on its Consolidated Financial Statements.

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- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

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