New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3. ADOPTION OF NEW REVENUE RECOGNITION STANDARD The Company adopted ASC 606 January 1, 2018 606 2017 December 31, 2017 As Reported ASC 606 Adjustment As Re casted Condensed Consolidated Balance Sheet Information Assets Current Assets: Accounts receivable, net $ 51,141 $ (21,211 ) $ 29,930 Prepaid and other current assets 8,160 2,738 10,898 Total Current Assets 242,384 (18,473 ) 223,911 Other noncurrent assets 6,179 4,776 10,955 Total Assets $ 2,218,329 $ (13,697 ) $ 2,204,632 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued liabilities $ 117,963 $ (108 ) $ 117,855 Deferred revenue 38,266 (23,258 ) 15,008 Total Current Liabilities 170,604 (23,366 ) 147,238 Deferred income taxes 205,636 1,518 207,154 Other noncurrent liabilities 9,991 3,120 13,111 Total Liabilities 1,546,913 (18,728 ) 1,528,185 Stockholders' Equity Retained earnings 723,354 5,032 728,386 Total Stockholders' Equity 671,416 5,031 676,447 Total Liabilities and Stockholders' Equity $ 2,218,329 $ (13,697 ) $ 2,204,632 Three Months Ended June 30, 2017 As Reported / Re vised (1) ASC 606 Adjustment As Re casted Condensed Consolidated Statement of Operations and Comprehensive Income Information Revenues $ 241,042 $ (51 ) $ 240,991 Costs and expenses Operating (excluding depreciation and amortization) 83,849 199 84,048 Selling, general and administrative 51,194 (229 ) 50,965 Total costs and expenses 183,527 (30 ) 183,497 Income from operations 57,515 (21 ) 57,494 Income before income taxes 45,411 (21 ) 45,390 Income tax provision 17,537 (7 ) 17,530 Net income $ 27,874 $ (14 ) $ 27,860 Net income per common share: Basic $ 4.91 $ - $ 4.91 Diluted $ 4.85 $ - $ 4.85 Comprehensive income $ 27,876 $ (14 ) $ 27,862 _________ ( 1 ) Refer to note 2 Six Months Ended June 30, 2017 As Reported/ Re vised (1) ASC 606 Adjustment As Re casted Condensed Consolidated Statement of Operations and Comprehensive Income Information Revenues $ 448,469 $ (44 ) $ 448,425 Costs and expenses Operating (excluding depreciation and amortization) 152,932 199 153,131 Selling, general and administrative 97,450 (101 ) 97,349 Total costs and expenses 332,255 97 332,352 Income from operations 116,214 (141 ) 116,073 Income before income taxes 96,790 (141 ) 96,649 Income tax provision 36,728 (54 ) 36,674 Net income $ 60,062 $ (87 ) $ 59,975 Net income per common share: Basic $ 10.58 $ (0.02 ) $ 10.56 Diluted $ 10.46 $ (0.01 ) $ 10.45 Comprehensive income $ 60,066 $ (87 ) $ 59,979 Condensed Consolidated Statement of Cash Flows Information Net income $ 60,062 $ (87 ) $ 59,975 Change in deferred income taxes 6,773 (54 ) 6,719 Change in deferred revenue 89 92 181 Change in other noncurrent assets and liabilities, net 462 50 512 Net cash provided by operating activities $ 130,859 $ - $ 130,859 _________ ( 1 ) Refer to note 2 The adoption of ASC 606 not A summary of changes in timing and presentation to the Company’s historical consolidated financial statements is presented below: ● The net decrease in total assets reflects a decrease in accounts receivable to remove amounts billed to customers for which the associated performance obligations have not ● The net decrease in total liabilities reflects a decrease in deferred revenue to remove amounts billed to customers for which the associated performance obligations have not ● The changes in revenues and expenses are a result of the deferred recognition of incremental customer acquisition costs and up-front and installation business services fees over a period of time, compared to the historical treatment of immediate recognition. |