| BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Financial Statement Preparation
and Presentation The accompanying consolidated financial
statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the
“SEC”) and generally accepted accounting principles in the United States (“U.S. GAAP”). As mentioned in Note 4, the Company is
winding down its commercial vehicle sales, leasing and support business and its insurance agency business and therefore has classified
them as discontinued operations. The results of discontinued operations have been reflected separately in the consolidated statements
of operations as a single line item for all periods presented in accordance with U.S. GAAP. In October 2016, the Company acquired
100% of the equity interest of Eastern Eagle and its subsidiaries from Smart Success. For all periods presented, the Company, Smart
Success, and Eastern Eagle and its subsidiaries were all under the control of Mr. Li, this transaction was accounted for as a combination
of commonly controlled entities and accounted for as if the acquisition had been consummated at the beginning of the earliest period
presented, with no gain or loss being recognized. The acquired assets and liabilities of Eastern Eagle and its subsidiaries were
recorded at carrying value. The consolidated and combined financial statements for all periods presented are retrospectively adjusted
to reflect the acquisition under common control of Eastern Eagle and its subsidiaries. Selected combined statement of operations
information for the year ended December 31, 2015:
Fincera Eastern Eagle Adjustment/Elimination Combined
RMB RMB RMB RMB
Total income 350,511 115,987 (13,520 ) 452,978
Interest expense 103,909 50,493 - 154,402
Interest expense, related parties 43,606 442 (6,025 ) 38,023
Property and management cost 12,844 96,934 - 109,778
Selling and marketing 14,937 5,976 - 20,913
General and administrative 73,575 40,851 (7,494 ) 106,932
Income (loss) from continuing operations before income taxes 938 (78,709 ) - (77,771 )
Income tax provision (benefit) 1,706 (19,526 ) - (17,820 )
Income (loss) from continuing operations (768 ) (59,183 ) - (59,951 )
Net income (loss) 50,301 (59,180 ) - (8,879 )
Earnings (loss) per share
Basic
Continuing operations (0.01 ) (1.26 ) 0.00 (1.27 )
Discontinued operations 1.08 0.00 0.00 1.08
1.07 (1.26 ) 0.00 (0.19 )
Diluted
Continuing operations (0.01 ) (1.26 ) 0.00 (1.27 )
Discontinued operations 1.08 0.00 0.00 1.08
1.07 (1.26 ) 0.00 (0.19 ) Principles of Consolidation The consolidated financial statements
include the financial statements of the Company, its subsidiaries and VIEs. All significant inter-company balances and transactions
have been eliminated in consolidation. Reclassification The Company has reclassified certain
comparative amounts in the consolidated statements of operations for the year ended December 31, 2016 and 2015 to conform to the
current year’s presentation. The principal reclassifications are related to CeraVest penalty and late fees and cash incentives
being reclassified from Interest income to Other Income. And CeraPay penalty and late fees were reclassified from Service charges
into Other Income. The reclassification did not have an impact on the reported total assets, liabilities, stockholders’ equity
and net income. Use of Estimates The preparation of financial statements
in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts
of revenues and expenses during the periods presented. The most significant estimates and related assumptions include the assessment
of the provision for credit losses and accrued marketing expenses, the assessment of the impairment of tangible long-lived assets,
and the assessment of the valuation allowance on deferred tax assets. Actual results could differ from these estimates. Cash and Cash Equivalents For purposes of the consolidated statements
of cash flows, cash equivalents include all highly liquid debt instruments with original maturities of three months or less which
are not securing any corporate obligations. As of December 31, 2017 and 2016, the majority of cash, including restricted cash,
was in RMB on deposit in PRC financial institutions, which the management believes are of high credit quality. Restricted Cash As of December 31, 2017 and 2016, the
restricted cash was RMB127,762 and RMB42,517, respectively, which were mainly uninvested cash balances in CeraVest customer accounts
and deposited in the Company’s bank account. These cash balances belong to the respective investors and therefore the Company
does not have any control over those deposits. Loans Loans primarily represent loans to CeraVest
borrowers and loans to other borrowers, and related interest receivable, net of provision for credit losses that reflects the Company’s
best estimate of the amounts that will not be collected. Prior to July 2017, loan origination fee collected from borrowers was
deducted from loan balance and amortized as interest income over the contract term. Other financing Receivables Prior to July 2017, other financing receivables
represent current and overdue financing provided to registered customers on the CeraPay platform, usually with an original term
of 30 days or 12 months. From July 2017 onwards, other financing receivables represent financing transactions with CeraPay customers
that have not yet been facilitated for funding by CeraVest investors. Provision for Credit Losses The allowance for credit losses, which
includes the allowance for loans and other financing receivables represents management’s estimate of probable losses inherent
in the Company’s internet-based business. The Company determines to collectively assess provision for credit losses based
on homogeneous risk characteristics, combined with targeted analysis on certain large individual balances. The allowance attributed
to these loans and other financing receivables is established via a process that estimates the probable losses inherent in the
specific portfolio. This process includes migration analysis, in which historical delinquency and credit loss experience is applied
to the current aging of the portfolio. The Company performs periodic and systematic
detailed reviews of its loans and other financing receivables, to identify credit risks and to assess the overall collectability
of those portfolios, and may adjust its estimates on allowance of credit losses when new circumstances arise. Concentration of Credit Risk Financial instruments that potentially
subject the Company to concentration of credit risk consist principally of loans and other financing receivables. Credit risk concentration
with respect to these instruments is reduced because a large number of diverse customers over a wide geographic area make up the
Company’s customer base. Borrowed funds from CeraVest investors Borrowed funds from CeraVest investors
represents 1) the funds provided by investors through the CeraVest Fixed for the purpose of funding CeraVest loans with a six-month
term; and 2) the funds provided by investors through CeraVest Flex for the investment in the obligation rights generated by the
Company on selected CeraPay and CeraVest users. Product Development Expense Our product development expense includes
the costs associated with the engineering and technical headcount responsible for product development, as well as their associated
costs. It includes labor and facilities-related costs for employees responsible for research and development of our existing and
new products and services, as well as depreciation and equipment-related expenses. Property, Equipment and Leasehold
Improvements, net Property and equipment are recorded at
cost and depreciated using the straight-line method over their estimated useful lives. All depreciation is included in operating
expenses on the accompanying consolidated statements of operations. Leasehold improvements are capitalized and amortized over the
lesser of the life of the lease or the useful life of the related asset. The estimated useful lives of property,
equipment and leasehold improvements are as follows:
Useful life
Buildings 40 years
Equipment 5 - 10 years
Furniture and fixtures 5 - 10 years
Company automobiles 3 - 5 years
Leasehold improvements Shorter of the remaining lease terms and estimated useful lives Except for the leasehold improvements,
all other assets are deemed to have a residual value of 5%. Expenditures for major additions or improvements
that extend the useful lives of assets are capitalized. Minor replacements, maintenance and repairs that do not improve or extend
the lives of such assets are expensed as incurred. The Company reviews its long-lived assets
for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable.
When these events occur, the Company assesses the recoverability of the long-lived assets by comparing the carrying value of the
long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual
disposition where the fair value is lower than the carrying value, measurement of an impairment loss is recognized in the consolidated
statements of operations for the difference between the fair value, using the expected future discounted cash flows, and the carrying
value of the assets. No impairment of long-lived assets was recognized for the periods presented. Fair Value of Financial Instruments Financial instruments consist primarily
of cash and cash equivalents, restricted cash, loans, other financing receivables, short-term bank borrowings, borrowed funds from
CeraVest investors, financing payables, related parties and long-term bank borrowings. The carrying amounts of the short-term financial
instruments at December 31, 2017 and 2016 approximated their fair values because of their short maturities or existence of variable
interest rates, which reflect current market rates. For long-term financial instruments, the carrying amount approximates its fair
value since the interest rates applied to determine the carrying amount is close to the market interest rates for similar types
of long-term instruments. When available, the Company measures the fair value of financial instruments based on quoted market prices
in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by
market data. Pricing information that the Company obtains from third parties is internally validated for reasonableness prior to
use in the consolidated financial statements. When observable market prices are not readily available, the Company generally estimates
fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from
objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In
certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors
vary and the Company’s evaluation of those factors changes. Although the Company uses its best judgment in estimating the
fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor
change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the
amounts of the Company’s consolidated assets, liabilities, equity and net income or loss. A financial instrument’s categorization
within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three
levels of inputs are used to measure fair value: Level 1 applies to assets or liabilities
for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities
for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such
as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets
with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs
are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities
for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value
of the assets or liabilities. As of December 31, 2017 and 2016, there
were no assets or liabilities were measured and reported at fair value on a recurring basis. Commitments and Contingencies In the normal course of business, the
Company is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range
of matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred and
a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical
and the specific facts and circumstances of each matter. Revenue Recognition Facilitation Fee Facilitation fee represents fees which
the Company charges borrowers for matching their loan requests with investors on its CeraVest platform. These fees are charged
by the Company in return for services including evaluating the borrower’s credit, examining the loan application and provided
information, connecting investors to qualified borrowers, facilitating the execution of the loan between the parties through the
CeraVest platform. Facilitation fees for the new three products, which are deducted upfront from borrowers, are recognized at loans
inception when facilitated successfully through CeraVest platform. Service Charges Before July 2017, service charges, which
represent CeraPay transaction fees, were recognized at the inception of the transaction. After July 2017, service charges represent
transaction fees for CeraPay transactions not successfully facilitated by the Company’s peer-to-peer lending platform at
billing dates. Interest Income Interest income is generated from loans and other financing
receivables, recognized based on the effective interest rate method over the contract term. Prior to July 2017, amortization of
loan origination fees was also included as interest income. Recognition of income is suspended and
a receivable is placed on non-accrual status when management determines that collection of future income is not probable. Accrual
is resumed, and previously suspended income is recognized, when the receivable becomes contractually current and/or collection
doubts are removed. Cash receipts on impaired loans are recorded against the loan principle and then to any unrecognized income. Other income Other income mainly includes penalty and late fees,
and government subsidies. Penalty and late fees are charged to borrowers of loans and other financing receivables if they become
delinquent in repaying. These fees are recognized when collected from borrowers. Government subsidies for our internet-based business
provided by Hebei Province, are recognized as compensation for expenses or losses already incurred or for the purpose of giving
immediate financial support to the Company with no future related benefit. Property lease and management Minimum contractual rental income related
to office leases are recognized on a straight-line basis over the terms of the respective leases. Straight-line rental revenue
commences when the customer assumes control of the leased premises. In accordance with the Company’s standard lease terms,
rental payments are generally due on a monthly basis. Tenant recovery revenue includes payments from tenants as reimbursements
for management fees and utilities, etc., which are recognized when the related expenses are incurred. Rental from office lease
and tenant recovery revenue together were recorded as “Property lease and management.” Revenues related to the Hotel are primarily
related to rooms rentals, food and beverage sales, and are recognized on an accrual basis. For guest rooms, revenue is recognized
when the rooms are occupied and the services are performed. Food and beverage revenues are recognized when the services are performed
or products delivered to the customer. Deferred revenue consisting of deposits paid in advance is recognized as revenue when the
services are performed for hotels and restaurants. Advertising The Company expenses advertising costs
as incurred. Advertising expenses totaled approximately RMB5,516, RMB2,747 and RMB2,739 for the years ended December 31, 2017,
2016 and 2015, respectively, and are included in selling and marketing expense in the accompanying consolidated statements of operations. Value added Tax and Business Tax In the PRC, value added tax (the “VAT”)
of 17% on invoice amount is collected in respect of the sales of goods on behalf of tax authorities. The VAT collected is not revenue
of the Company; instead, the amount is recorded as a liability on the balance sheet until such VAT is paid to the authorities. Since May 2016, all entities that were
originally subject to a business tax are subject to VAT only under the National VAT Reform Program launched by the People's Congress
of PRC. For the tax rates applicable, those that were initially charged at 5% of business tax are now subject to a 6% VAT for a
general VAT payer, or 3% for a small-scale VAT payer, for the Company’s PRC subsidiaries’ revenue from the internet-based
business, rental income, hotel revenue, membership fee, interest from sales-type leases, management servicing fee, commission fee
and revenues from tires, fuel and insurance financing services. Income Taxes Income taxes are accounted for using
an asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences
attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective
tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in the applicable tax jurisdiction expected
to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Deferred
income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. Realization
of the deferred tax asset is dependent on generating sufficient taxable income in future years. The Company recognizes interest on non-payment
of income taxes under requirement by tax law and penalties associated with tax positions when a tax position does not meet the
minimum statutory threshold to avoid payment of penalties. According to the PRC Tax Administration and Collection Law, the statute
of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding
agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more
than RMB 100,000. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation
in the case of tax evasion. The tax returns of the Company’s PRC VIEs and subsidiaries are subject to examination by the
relevant tax authorities. The Company’s Chinese subsidiaries
are subject to taxation in the PRC. The PRC income tax returns are generally not subject to examination by the tax authorities
for tax years before 2012. With a few exceptions, the tax years 2012 to 2017 remain open to examination by tax authorities in the
PRC. Uncertain tax positions The Company adopted the guidance on accounting
for uncertainties in income taxes, which prescribes a more likely than not threshold for financial statement recognition and measurement
of a tax position taken or expected to be taken in a tax return. Guidance was also provided on de-recognition of income tax assets
and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties
associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment
is required in evaluating the Company’s uncertain tax positions and determining its provision for income taxes. The Company has elected to classify interest
related to an uncertain tax position (if and when required) to interest expense, and classify penalties related to an uncertain
tax position (if and when required) as part of income tax expense in the consolidated statements of operations. For the years ended
December 31, 2017, 2016 and 2015, the Company did not have any significant interest and penalties associated with uncertain tax
positions. As of December 31, 2017 and 2016, the Company did not have any significant unrecognized uncertain tax positions and
the Company does not believe that its unrecognized tax benefits will change over the next twelve months. Segment Reporting Operating segments are defined as components
of an enterprise about which separate financial information is available that is evaluated regularly by the chief executive officer
(“CODM”), in deciding how to allocate resources and assessing performance. All of the Company’s sales are generated
in the PRC and substantially all of the Company’s assets are located in the PRC. The Company’s operations consist of
three reporting and operating segments, the internet-based business, property lease and management business and hotel business
(Note 18). Earnings (Loss) Per Share The Company computes earnings (loss)
per share (“EPS”) in accordance with generally accepted accounting principles. Companies with complex capital structures
are to present basic and diluted EPS. Basic EPS is measured as the income (loss) available to ordinary shareholders divided by
the weighted average ordinary shares outstanding for the period. For basic EPS, the weighted average number of shares outstanding
for the period includes contingently issuable shares (i.e., shares issuable for little or no cash consideration upon the satisfaction
of the conditions of a contingent stock agreement) as of the date that all necessary conditions have been met. Diluted earnings
per share reflect the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised
or converted into ordinary stock. Ordinary shares issuable upon the conversion of the convertible preferred shares are included
in the computation of diluted earnings per share on an “if-converted” basis when the impact is dilutive. The dilutive
effect of outstanding ordinary share warrants and options are reflected in the diluted earnings per share by application of the
treasury stock method when the impact is dilutive. Potential ordinary shares that have an anti-dilutive effect are excluded from
the calculation of diluted EPS. Basic and diluted earnings per share
for each of the periods presented are calculated as follows:
Year ended December 31,
2017 2016 2015
RMB RMB RMB
Net loss (8,382 ) (12,270 ) (8,879 )
Weighted average number of common shares outstanding – Basic (1) 47,271,473 47,113,656 47,100,290
Stock options (1) — — —
Weighted average number of common shares outstanding – Diluted (1) 47,271,473 47,113,656 47,100,290
Loss per share (1)
Basic (0.18 ) (0.26 ) (0.19 )
Diluted (0.18 ) (0.26 ) (0.19 ) Due to the loss from continued operations
for the years ended December 31, 2017, 2016 and 2015, 4,369,527, 4,655,384 and 4,318,084 stock options were excluded from the calculation
of diluted net loss per share, respectively, because the effect would be anti-dilutive. Foreign Currency Translation and
Change in Reporting Currency Starting from the second quarter of 2017,
the Company changed its reporting currency from USD to RMB. The change in reporting currency was undertaken to reduce the effect
of increased volatility of the RMB to USD exchange rate on the Company’s reported operating results and to increase comparability
with its peer companies in China. The related financial statements prior to April 1, 2017 have been recast to RMB as if the financial
statements originally had been presented in RMB since the earliest periods presented. The Company’s operations are principally
conducted through the subsidiaries and VIEs located in the PRC where RMB is the functional currency. Assets and liabilities denominated in
foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date. Exchange
gains and losses are included in earnings as a component of general and administration expense. Translations of amounts from RMB into
USD are solely for the convenience of the reader and were calculated at the rate of USD1.00 = RMB6.5342 on December 30, 2017, the
last business day in fiscal year 2017, representing the certificated exchange rate published by the Federal Reserve Board. No representation
is intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into US$ at such rate, or
at any other rate. Dividends Dividends are recorded when declared.
The Company declared a $1.00 per share cash dividend in June 2017. The declared dividends amounted to nil, nil, and RMB322,141
for the years ended December 31, 2015, 2016, and 2017 respectively. Share-Based Payments The Company records all share-based payments
grants of employee stock options to employees in the financial statements based on their fair values on the grant date and amortizes
to expense on a straight-line basis over the vesting period. The Company used the Black-Scholes option-pricing model to estimate
the fair value of the options at the date of grant for both the 2009 incentive plan and the 2015 incentive plan. The Company used
the binomial model to estimate the fair value of repriced options as the Company has reassessed the exercise pattern and determined
that the Binomial Pricing model was a better model for estimating the fair values of the repriced options. The Company recognizes
expenses related to share-based payments as part of general and administrative expense. Recently Issued and Adopted Accounting
Standards In May 2014, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts
with Customers, which was subsequently modified in August 2015 by ASU No. 2015-14, Revenue from Contracts with Customers: Deferral
of the Effective Date. This guidance will be effective for fiscal years (and interim reporting periods within those years) beginning
after December 15, 2017. The core principle of ASU No. 2014-09 is that companies should recognize revenue when the transfer of
promised goods or services to customers occurs in an amount that reflects what the company expects to receive. It requires additional
disclosures to describe the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. In
2016, the FASB issued additional ASUs that clarify the implementation guidance on principal versus agent considerations (ASU 2016-08),
on identifying performance obligations and licensing (ASU 2016-10), and on narrow-scope improvements and practical expedients (ASU
2016-12) as well as on the revenue recognition criteria and other technical corrections (ASU 2016-20). In 2017, the FASB issued
Accounting Standards Update (ASU) 2017-05, Other Income-Gains and Losses from the De-recognition of Nonfinancial Assets (Subtopic
610-20), which was originally issued in ASU 2014-09. The amendments in this Update require that an entity to initially measure
a retained non-controlling interest in a nonfinancial asset at fair value consistent with a how a retained non-controlling interest
in a business is measured. During 2017, the Company made significant
progress toward its evaluation of the potential changes from adopting the new standard on its future financial reporting and disclosures.
The Company has established a cross-functional implementation team on assessment on the five-step model of the new standard to
its revenue contracts. Under Topic 606, an entity recognizes
revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the
entity expects to receive in exchange for those goods or services. It also impacts certain other areas, such as the accounting
for costs to obtain or fulfill a contract. The standard also requires disclosure of the nature, amount, timing, and uncertainty
of revenue and cash flows arising from contracts with customers. Management has adopted this standard
effective January 1, 2018 using the modified retrospective approach, in which case the cumulative effect of applying the standard
would be recognized at the date of initial application. The Company also considers there will not be a material impact to the beginning
balance of retained earnings. In January 2016, the FASB issued ASU
No. 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments
in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The
amendments in this update require public business entities that are required to disclose fair value of financial instruments measured
at amortized cost on the balance sheet to measure that fair value using the exit price notion consistent with Topic 820, Fair Value
Measurement. The amendments in this update require an entity to present separately in other comprehensive income the portion of
the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity
has elected to measure the liability at fair value in accordance with the fair value option. The amendments in this update require
separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is,
securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements. For public
business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim
periods within those fiscal years. Early application by public business entities to financial statements of fiscal years or interim
periods that have not yet been issued or, by all other entities, that have not yet been made available for issuance of the following
amendments in this update are permitted as of the beginning of the fiscal year of adoption: an entity should present separately
in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific
credit risk if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial
instruments. We are in the process of evaluating the impact of adoption of this guidance on our consolidated financial statements. In February 2016, the FASB issued ASU
No. 2016-02, Leases. The new standard creates Topic 842, Leases, in the FASB Accounting Standards Codification (FASB ASC) and supersedes
FASB ASC 840, Leases. ASU 2016-02 requires a lessee to recognize the assets and liabilities that arise from leases (operating and
finance). However, for leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not
to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases
generally on a straight-line basis over the lease term. For public business entities, the amendments in this update are effective
for financial statements issued for annual periods beginning after December 15, 2018, and interim periods within those annual periods.
Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. We are in the process
of evaluating the impact of adoption of this guidance on our consolidated financi |
