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Note 2 - Recently Issued Accounting Pronouncements
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Description of New Accounting Pronouncements Not yet Adopted [Text Block]
2.
Recently Issued Accounting Pronouncements
 
Accounting Pronouncements to be Adopted
 
In
June 2016,
the FASB issued ASU
No.
2016
-
13,
Financial Instruments—Credit Losses (Topic
326
): Measurement of Credit Losses on Financial Instruments,
which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This
may
result in the earlier recognition of allowances for losses. The FASB issued several ASUs after ASU
2016
-
13
to clarify implementation guidance and to provide transition relief for certain entities. ASU
2016
-
13
is effective for the Company for fiscal years beginning after
December 15, 2022,
with early adoption permitted. The Company is evaluating the impact of adopting ASU
2016
-
13
and related amendments will have on its consolidated financial position, results of operations and cash flows.
 
 
In
August 2018,
the FASB issued ASU
No.
2018
-
14,
Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans
, which amends ASC
715
to add, remove and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The ASU is effective for public entities for fiscal years beginning after
December 15, 2020,
with early adoption permitted. Management has
not
yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements.
 
In
December 2019,
the FASB issued ASU
2019
-
12,
Income Taxes (Topic
740
): Simplifying the Accounting for Income Taxes
, which enhances and simplifies various aspects of the income tax accounting guidance related to intra-period tax allocation, interim period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim period tax accounting. ASU
2019
-
12
also amends other aspects of the guidance to reduce complexity in certain areas. ASU
2019
-
12
will become effective for the Company on
January 1, 2021.
Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its financial statements and related disclosures.