Rollins (ROL) 10-Q 28 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 15, 2016
Document And Entity Information
Entity Registrant Name	ROLLINS INC
Entity Central Index Key	84,839
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		217,830,498
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 139,263	$ 134,574
Trade receivables, net of allowance for doubtful accounts of $11,779 and $10,348, respectively	99,113	79,864
Financed receivables, short-term, net of allowance for doubtful accounts of $1,765 and $1,844, respectively	15,984	13,830
Materials and supplies	13,787	12,801
Other current assets	31,759	28,365
Total Current Assets	299,906	269,434
Equipment and property, net	134,166	121,356
Goodwill	260,154	249,939
Customer contracts	116,642	92,815
Other intangible assets, net	45,243	46,116
Financed receivables, long-term, net of allowance for doubtful accounts of $1,402 and $1,444, respectively	16,282	13,636
Deferred income taxes, net	32,749	40,665
Other assets	16,373	14,690
Total Assets	921,515	848,651
LIABILITIES
Accounts payable	26,436	24,919
Accrued insurance	26,544	24,874
Accrued compensation and related liabilities	72,569	73,607
Unearned revenues	110,848	96,192
Other current liabilities	35,249	33,394
Total current liabilities	271,646	252,986
Accrued insurance, less current portion	32,443	30,402
Accrued pension	6,320	9,735
Long-term accrued liabilities	36,877	31,499
Total Liabilities	347,286	324,622
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Preferred stock, without par value; 500,000 shares authorized, zero shares issued
Common stock, par value $1 per share; 375,000,000 shares authorized, 217,830,498 and 218,753,011 shares issued and outstanding, respectively	217,830	218,753
Treasury stock, par value $1 per share; 0 and 200,000 shares, respectively		(200)
Paid in capital	74,289	69,762
Accumulated other comprehensive loss	(66,756)	(71,178)
Retained earnings	348,866	306,892
Total Stockholders' Equity	574,229	524,029
Total Liabilities and Stockholders' Equity	$ 921,515	$ 848,651

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Trade receivables, short-term, allowance for doubtful accounts (in dollars)	$ 11,779	$ 10,348
Financed receivables, short-term, allowance for doubtful accounts (in dollars)	1,765	1,844
Financed receivables, long-term, allowance for doubtful accounts (in dollars)	$ 1,402	$ 1,444
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, no par value (in dollars per share)
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	375,000,000	375,000,000
Common stock, shares issued	217,830,498	218,753,011
Common stock, shares outstanding	217,830,498	218,753,011
Treasury Stock, par value	$ 1	$ 1
Treasury Stock, Shares	0	200,000

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES
Customer services	$ 423,994	$ 399,746	$ 1,187,863	$ 1,122,805
COSTS AND EXPENSES
Cost of services provided	205,608	195,489	579,353	553,741
Depreciation and amortization	13,083	11,156	37,073	33,182
Sales, general and administrative	125,407	121,944	364,207	346,141
Gain on sale of assets	(52)	(1,255)	(720)	(1,504)
Interest income, net	(18)	(21)	(156)	(134)
INCOME BEFORE INCOME TAXES	79,966	72,433	208,106	191,379
PROVISION FOR INCOME TAXES	30,315	27,387	78,744	70,979
NET INCOME	$ 49,651	$ 45,046	$ 129,362	$ 120,400
NET INCOME PER SHARE - BASIC AND DILUTED (in dollars per share)	$ 0.23	$ 0.21	$ 0.59	$ 0.55
DIVIDENDS PAID PER SHARE (in dollars per share)	$ .10	$ 0.08	$ .30	$ 0.24
Weighted average participating shares outstanding - basic and diluted (in shares)	218,039	218,594	218,386	218,583

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 49,651	$ 45,046	$ 129,362	$ 120,400
Other comprehensive earnings (loss), net of tax
Foreign currency translation adjustments	(2,957)	(8,719)	4,422	(14,940)
Other comprehensive earnings (loss)	(2,957)	(8,719)	4,422	(14,940)
Comprehensive earnings	$ 46,694	$ 36,327	$ 133,784	$ 105,460

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Common Stock [Member]		Treasury Stock	Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Total
Balance at Dec. 31, 2014		$ 218,483		$ (200)	$ 62,839	$ (65,488)	$ 247,042	$ 462,676
Balance (in shares) at Dec. 31, 2014		218,483,000		(200,000)
Increase (Decrease) in Shareholders' Equity
Net Income							152,149	152,149
Pension Liability Adjustment						9,070		9,070
Foreign Currency Translation Adjustments						(14,760)		(14,760)
Cash Dividends							(91,755)	(91,755)
Common Stock Purchased	[1]	$ (19)					(416)	(435)
Common Stock Purchased (in shares)	[1]	(19,000)
Stock Compensation		$ 597			11,731		(218)	12,110
Stock Compensation (in shares)		597,000
Employee Stock Buybacks and Common Stock Options Exercised		$ (308)			(6,754)		90	(6,972)
Employee Stock Buybacks and Common Stock Options Exercised (in shares)		(308,000)
Excess Tax Benefit on Restricted Stock, Dividend Compensation and Non-Qualified Stock Options					1,946			1,946
Balance at Dec. 31, 2015		$ 218,753		$ (200)	69,762	(71,178)	306,892	524,029
Balance (in shares) at Dec. 31, 2015		218,753,000		(200,000)
Increase (Decrease) in Shareholders' Equity
Net Income							129,362	129,362
Foreign Currency Translation Adjustments						4,422		4,422
Cash Dividends							(65,506)	(65,506)
Common Stock Purchased	[1]	$ (836)					(21,882)	$ (22,718)
Common Stock Purchased (in shares)		(836,000)	[1]					800,000
Common Stock Retired		$ (200)		$ 200
Common Stock Retired (in shares)		(200,000)		200,000
Stock Compensation		$ 427			9,002			$ 9,429
Stock Compensation (in shares)		427,000
Employee Stock Buybacks and Common Stock Options Exercised		$ (314)			(8,011)			(8,325)
Employee Stock Buybacks and Common Stock Options Exercised (in shares)		(314,000)
Excess Tax Benefit on Restricted Stock, Dividend Compensation and Non-Qualified Stock Options					3,536			3,536
Balance at Sep. 30, 2016		$ 217,830			$ 74,289	$ (66,756)	$ 348,866	$ 574,229
Balance (in shares) at Sep. 30, 2016		217,830,000
[1]	Charges to Retained Earnings are from purchases of the Company's Common Stock.

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net Income	$ 129,362	$ 120,400
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37,073	33,182
Provision for deferred income taxes	4,954	690
Provision for bad debts	8,320	6,966
Stock based compensation expense	9,429	9,374
Excess tax benefits from share-based payments	(3,536)	(1,763)
Other, net	(700)	(1,692)
Changes in operating assets and liabilities	(26,743)	(23,333)
Net cash provided by operating activities	158,159	143,824
INVESTING ACTIVITIES
Cash used for acquisitions of companies, net of cash acquired	(40,824)	(31,391)
Purchases of equipment and property	(27,128)	(28,613)
Proceeds from sales of franchises	199	365
Other	1,133	2,055
Net cash used in investing activities	(66,620)	(57,584)
FINANCING ACTIVITIES
Cash paid for common stock purchased	(31,043)	(7,407)
Dividends paid	(65,506)	(52,436)
Excess tax benefits from share-based payments	3,536	1,763
Net cash used in financing activities	(93,013)	(58,080)
Effect of exchange rate changes on cash	6,163	(2,222)
Net decrease in cash and cash equivalents	4,689	25,938
Cash and cash equivalents at beginning of period	134,574	108,372
Cash and cash equivalents at end of period	$ 139,263	$ 134,310

BASIS OF PREPARATION AND OTHER

BASIS OF PREPARATION AND OTHER	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION AND OTHER	NOTE 1. BASIS OF PREPARATION AND OTHER Basis of Preparation The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates in its interim condensed consolidated financial statements for the termite accrual which includes future costs including termiticide life expectancy and government regulations, the insurance accrual which includes self insurance and worker’s compensation, inventory adjustments, discounts and volume incentives earned, among others. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the interim periods have been made. These adjustments are of a normal recurring nature. The results of operations for the three and nine month period ended September 30, 2016 are not necessarily indicative of results for the entire year. The Company has only one reportable segment, its pest and termite control business. The Company’s results of operations and its financial condition are not reliant upon any single customer, or a few customers, or the Company’s foreign operations. Three-for-two stock split All share and per share information has been retroactively adjusted for the three-for-two stock split effective March 10, 2015 for shareholders of record February 10, 2015.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted accounting standards In November 2015, the FASB issued ASU No. (ASU) 2015-17, Balance Sheet Classification of Deferred Taxes, which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this update. The amendments in this update are effective for the Company’s financial statements issued for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in this update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We have elected to early adopt ASU 2015-17 retrospectively in the first quarter of 2016. As a result, we have presented all deferred tax assets and liabilities as noncurrent on our consolidated balance sheets, and have reclassified current deferred tax assets and liabilities on our consolidated balance sheet as of December 31, 2015. There was no net impact on our results of operations as a result of the adoption of ASU 2015-17. Recently issued accounting standards to be adopted in 2016 or later In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards (IFRS). ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for public entities for interim and annual reporting periods beginning after December 15, 2016. On July 9, 2015, the FASB issued ASU 2015-14, which deferred the effective date of this new standard to periods beginning after December 15, 2017 for public entities. Early application is permitted, but not before interim and annual reporting periods beginning after December 15, 2016. Entities have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application and not adjusting comparative information. The Company is currently evaluating the impact of this standard on its consolidated financial statements and the method of adoption. We do not expect this standard to have a material impact on the Company’s reported results of operations or financial position. In February 2016, FASB issued ASU No. 2016-02, Leases, which require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU also will require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The amendments in this update are effective for the Company’s financial statements issued for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2018. Earlier application is permitted as of the beginning of an interim or annual reporting period. The Company is currently evaluating the impact of this standard on its consolidated financial statements. We do not expect this standard to have a material impact on the Company’s reported results of operations or financial position. In March 2016, FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. The amendments in this update are effective for the Company’s financial statements issued for annual periods beginning after December 15, 2016, and interim periods within annual periods. Earlier adoption is permitted for any entity in any interim or annual reporting period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is currently evaluating the impact of this standard on its consolidated financial statements. We do not expect this standard to have a material impact on the Company’s reported results of operations or financial position. In August 2016, FASB issued ASU No. 2016-15, Statement of Cash Flow Classification of Certain Cash Receipts and Cash Payments, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this update are effective for the Company’s financial statements issued for annual periods beginning after December 15, 2017, and interim periods within annual periods. Earlier adoption is permitted for any entity in any interim or annual reporting period. The Company is currently evaluating the impact of this standard on its consolidated financial statements. We do not expect this standard to have a material impact on the Company’s reported results of operations or financial position.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 3. EARNINGS PER SHARE The Company follows ASC 260, Earnings Per Share Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Basic and diluted earnings per share Common stock $ 0.23 $ 0.21 $ 0.59 $ 0.55 Restricted shares of common stock $ 0.23 $ 0.21 $ 0.59 $ 0.55

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 4. CONTINGENCIES In the normal course of business, certain of the Company’s subsidiaries are defendants in a number of lawsuits, claims or arbitrations which allege that the subsidiaries’ services caused damage. In addition, the Company defends employment related cases and claims from time to time. We are involved in certain environmental matters primarily arising in the normal course of business. We are actively contesting each of these matters. On December 2, 2014, Plaintiff Killian Pest Control sued Rollins, Inc. and its subsidiary HomeTeam Pest Defense alleging that HomeTeam’s exclusive use of its “tubes in the walls” system violates the federal Sherman Antitrust Act, and California’s Cartwright Act and Business and Professions Code. Plaintiffs seek a declaratory judgment that the alleged misconduct violates the Sherman and Cartwright Acts, and the Business and Professions Code; a permanent injunction against continuing alleged violations; and monetary damages. The lawsuit is pending in the United States District Court, Northern District of California. Because discovery remains open and there are unresolved questions of fact and law, the Company cannot currently estimate the loss, if any, and intends to defend this matter vigorously. On December 2, 2014, Plaintiff Jose Luis Garnica, on behalf of himself and a class of similarly situated customers, sued Rollins, Inc. and its subsidiary HomeTeam Pest Defense alleging that HomeTeam’s exclusive use of its “tubes in the walls” system violates the federal Sherman Antitrust Act. The Plaintiff seeks a declaratory judgment that the alleged misconduct violates the Sherman Act; a permanent injunction against continuing violations; and monetary damages. The lawsuit is pending in the United States District Court, Northern District of California. Because discovery remains open and there are unresolved questions of fact and law, the Company cannot currently estimate the loss, if any, and intends to defend this matter vigorously. Management does not believe that any pending claim, proceeding or litigation, either alone or in the aggregate will have a material adverse effect on the Company’s financial position, results of operations or liquidity; however, it is possible that an unfavorable outcome of some or all of the matters, however unlikely, could result in a charge that might be material to the results of an individual quarter or year.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 5. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments consist of cash and cash equivalents, trade receivables, notes receivable, accounts payable and other short-term liabilities. The carrying amounts of these financial instruments approximate their fair values. The Company has a Revolving Credit Agreement with SunTrust Bank and Bank of America, N.A. for an unsecured line of credit of up to $175.0 million, which includes a $75.0 million letter of credit subfacility and a $25.0 million swingline subfacility. There were no outstanding borrowings at September 30, 2016 and December 31, 2015.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6. STOCKHOLDERS’ EQUITY During the nine months ended September 30, 2016 the Company paid $65.5 million or $0.30 per share in cash dividends compared to $52.4 million or $0.24 per share during the same period in 2015. During the third quarter ended September 30, 2016, the Company repurchased 0.4 million shares from the open market of its $1 par value common stock at a weighted average price of $27.77 per share. No shares were repurchased during the same period in 2015. During the nine months ended September 30, 2016, the Company repurchased from the open market approximately 0.8 million shares of its $1 par value common stock at a weighted average price of $27.19 per share compared to approximately 19,000 shares that were repurchased at a weighted average price of $22.42 during the same period in 2015. The Company also repurchases shares from employees for the payment of taxes on vesting restricted shares. For this purpose, the Company repurchased $0.9 million of common stock during the third quarter ended September 30, 2016 and the Company did not repurchase any of its common stock for the third quarter ended September 30, 2015, and repurchased $8.3 million and $7.0 million of common stock for the nine months ended September 30, 2016 and 2015, respectively. As more fully discussed in Note 14 of the Company’s notes to the consolidated financial statements in its 2015 Annual Report on Form 10-K, stock options, time lapse restricted shares (TLRS’s) and restricted stock units have been issued to officers and other management employees under the Company’s Employee Stock Incentive Plans. The Company issues new shares from its authorized but unissued share pool. At September 30, 2016, approximately 4.6 million shares of the Company’s common stock were reserved for issuance. Time Lapse Restricted Shares and Restricted Stock Units The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Time lapse restricted stock: Pre-tax compensation expense $ 3,049 $ 3,255 $ 9,429 $ 9,374 Tax benefit (1,180 ) (1,260 ) (3,649 ) (3,628 ) Restricted stock expense, net of tax $ 1,869 $ 1,995 $ 5,780 $ 5,746 The Company recognized a deferred tax benefit of approximately $0.4 million and a deferred tax benefit of $0.1 million during the third quarters ended September 30, 2016 and 2015 respectively, and a deferred tax benefit of approximately $3.5 million, $1.8 million and $1.9 million for the nine months ended September 30, 2016 and 2015 and the year ended December 31, 2015, respectively, related to the vesting of restricted shares which have been recorded as increases to paid-in capital. The following table summarizes information on unvested restricted stock outstanding as of September 30, 2016: Number of Weighted- Unvested Restricted Stock Units at December 31, 2015 2,751 $ 17.21 Forfeited (76 ) 19.56 Vested (876 ) 14.48 Granted 503 26.45 Unvested Restricted Stock Units at September 30, 2016 2,301 $ 20.19 At September 30, 2016 and December 31, 2015, the Company had $33.7 million and $31.3 million of total unrecognized compensation cost, respectively, related to time-lapse restricted shares that are expected to be recognized over a weighted average period of approximately 3.9 years and 3.8 years, respectively.

PENSION AND POST RETIREMENT BEN

PENSION AND POST RETIREMENT BENEFIT PLANS	9 Months Ended
	Sep. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
PENSION AND POST RETIREMENT BENEFIT PLANS	NOTE 7. PENSION AND POST RETIREMENT BENEFIT PLANS The following table represents the net periodic pension benefit costs and related components in accordance with FASB ASC 715 “ Compensation - Retirement Benefits”: Components of Net Pension Benefit Gain Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Interest and service cost $ 2,350 $ 2,250 $ 7,050 $ 6,750 Expected return on plan assets (3,305 ) (3,197 ) (9,915 ) (9,591 ) Amortization of net loss 816 940 2,448 2,820 Net periodic benefit $ (139 ) $ (7 ) $ (417 ) $ (21 ) During the nine months ended September 30, 2016 and 2015, the Company made $3.0 million and $5.0 million in contributions, respectively to its defined benefit retirement plans (the “Plans”). The Company made $5.0 million in contributions for the year ended December 31, 2015. The Company is planning on making further contributions to the Plans during the fiscal year ending December 31, 2016 of approximately $0.3 million.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 8. BUSINESS COMBINATIONS The Company made twenty eight acquisitions during the nine month period ended September 30, 2016, and twelve acquisitions for the year ended December 31, 2015, respectively, as disclosed on various press releases and related Form 8-Ks. Total cash purchase price for the Company’s acquisitions for the nine months ended September 30, 2016 was $40.8 million net of cash acquired. The preliminary values of major classes of assets acquired and liabilities assumed recorded at the date of acquisition, as adjusted during the valuation period, are included in the reconciliation of the total consideration as follows (in thousands): September 30, 2016 Accounts receivable $ 3,185 Materials and supplies 352 Equipment and property 4,039 Goodwill 8,613 Customer contracts 40,861 Other intangible assets 1,065 Current liabilities (6,836 ) Other assets and liabilities, net (2,836 ) Total consideration paid $ 48,443 Less: Contingent consideration liability (7,619 ) Total cash purchase price $ 40,824 Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. The carrying amount of goodwill was $260.2 million and $249.9 million at September 30, 2016 and December 31, 2015, respectively. Goodwill generally changes due to the timing of acquisitions, finalization of allocation of purchase prices of previous acquisitions and foreign currency translations. The carrying amount of goodwill in foreign countries was $47.2 million at September 30, 2016 and $36.9 million at December 31, 2015. The Company completed its most recent annual impairment analyses as of September 30, 2016. Based upon the results of these analyses, the Company has concluded that no impairment of its goodwill or other intangible assets was indicated. The carrying amount of customer contracts and other intangible assets was $116.6 million and $45.2 million, respectively, at September 30, 2016, and $92.8 million and $46.1 million, respectively, at December 31, 2015. The carrying amount of customer contracts and other intangible assets in foreign countries was $32.1 million and $4.4 million, respectively, at September 30, 2016, and $14.9 million and $4.2 million, respectively, at December 31, 2015. Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets as of September 30, 2016 (in thousands): Carrying Useful Life Intangible Asset Value in Years Customer contracts $ 116,642 3 - 12.5 Trademarks and tradenames 32,933 0 - 20 Non-compete agreements 4,830 3 - 20 Patents 3,221 3 - 15 Other assets 2,031 10 Internet domains 2,228 n/a Total customer contracts and other intangible assets $ 161,885

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 9. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives The Company is exposed to certain risk arising from both its business operations and economic conditions. To manage this risk, the Company enters into derivative financial instruments from time to time. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value of the Company’s cash receipts and payments in terms of the Company’s functional currency. The Company enters into derivative financial instruments from time to time to protect the value or fix the amount of certain obligations in terms of its functional currency, the U.S. dollar. Hedges of Foreign Exchange Risk The Company is exposed to fluctuations in various foreign currencies against its functional currency, the US dollar. The Company uses foreign currency derivatives, specifically vanilla foreign currency forwards, to manage its exposure to fluctuations in the USD-CAD and AUD-USD exchange rates. Currency forward agreements involve fixing the foreign currency exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward agreements are typically cash settled in US dollars for their fair value at or close to their settlement date. The Company does not currently designate any of these foreign exchange forwards under hedge accounting, but rather reflects the changes in fair value immediately in earnings. Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to foreign exchange rates. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and were equal to a gain of $0.1 million for the quarter ended September 30, 2016 and a loss of $0.5 million for the nine months ended September 30, 2016. As of September 30, 2016, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships (in thousands except for number of instruments): Non-Designated Derivative Summary Number of Sell Notional Buy Notional FX Forward Contracts Sell AUD/Buy USD Fwd Contract 1 $ 300 $ 210 Sell CAD/Buy USD Fwd Contract 1 $ 4,200 $ 3,098 Total 2 $ 3,308 The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2016 and December 31, 2015 (in thousands): Tabular Disclosure of Fair Values of Derivative Instruments Derivatives Asset Derivative Liabilities Fair Value as of: September 30, December 31, September 30, December 31, 2016 2015 2016 2015 Derivatives Not Designated as Hedging Instruments FX Forward Contracts Balance Sheet Location Other Assets Other Assets Other Current Liabilities Other Current Liabilities Sell AUD/Buy USD Fwd Contract $ 0 $ 0 $ (19 ) $ 0 Sell CAD/Buy USD Fwd Contract $ 0 $ 0 $ (103 ) $ 0 Total $ 0 $ 0 $ (122 ) $ 0 The table below presents the effect of the Company’s derivative financial instruments on the Income Statement as of September 30, 2016 and September 30, 2015 (in thousands): Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated as Hedging Instruments for the Three and Nine Months Ended September 30, 2016 and 2015 Derivatives Not Designated as Location of Gain or Amount of Gain or Amount of Gain or 2016 2015 2016 2015 Sell AUD/Buy USD Fwd Contract Other Inc/Exp $ (9 ) $ 0 $ (36 ) $ 0 Sell CAD/Buy USD Fwd Contract Other Inc/Exp 103 0 (476 ) 0 Total $ 94 $ 0 $ (512 ) $ 0 The table below presents the total fair value classification within the fair value hierarchy for the complete portfolio of derivative transactions at September 30, 2016 (in thousands): Recurring Fair Value Measurements Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Fair Value at As of September 30, September 30, September 30, September 30, 2016 2015 2016 2015 2016 2015 2016 2015 Assets Derivative Financial Instruments $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Liabilities Derivative Financial Instruments $ 0 $ 0 $ (122 ) $ 0 $ 0 $ 0 $ (122 ) $ 0 As of September 30, 2016, the fair value of derivatives in a net liability position was $0.1 million inclusive of counterparty credit risk. As of the balance sheet date, the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at September 30, 2016, it could have been required to settle its obligations under the agreements at their termination value of $0.1 million.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS On October 25, 2016, the Company announced that the Board of Directors declared a regular quarterly cash dividend on its common stock of $0.10 per share plus a special year-end dividend of $0.10 per share both payable December 9, 2016 to shareholders of record as of November 10, 2016.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Basic and diluted earnings per share Common stock $ 0.23 $ 0.21 $ 0.59 $ 0.55 Restricted shares of common stock $ 0.23 $ 0.21 $ 0.59 $ 0.55

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Components of the stock-based compensation programs recorded as expense	The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Time lapse restricted stock: Pre-tax compensation expense $ 3,049 $ 3,255 $ 9,429 $ 9,374 Tax benefit (1,180 ) (1,260 ) (3,649 ) (3,628 ) Restricted stock expense, net of tax $ 1,869 $ 1,995 $ 5,780 $ 5,746
Summarized information on unvested restricted stock units outstanding	The following table summarizes information on unvested restricted stock outstanding as of September 30, 2016: Number of Weighted- Unvested Restricted Stock Units at December 31, 2015 2,751 $ 17.21 Forfeited (76 ) 19.56 Vested (876 ) 14.48 Granted 503 26.45 Unvested Restricted Stock Units at September 30, 2016 2,301 $ 20.19

PENSION AND POST RETIREMENT B20

PENSION AND POST RETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of Net Pension Benefit Gain	Components of Net Pension Benefit Gain Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Interest and service cost $ 2,350 $ 2,250 $ 7,050 $ 6,750 Expected return on plan assets (3,305 ) (3,197 ) (9,915 ) (9,591 ) Amortization of net loss 816 940 2,448 2,820 Net periodic benefit $ (139 ) $ (7 ) $ (417 ) $ (21 )

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of purchase price allocation	The preliminary values of major classes of assets acquired and liabilities assumed recorded at the date of acquisition, as adjusted during the valuation period, are included in the reconciliation of the total consideration as follows (in thousands): September 30, 2016 Accounts receivable $ 3,185 Materials and supplies 352 Equipment and property 4,039 Goodwill 8,613 Customer contracts 40,861 Other intangible assets 1,065 Current liabilities (6,836 ) Other assets and liabilities, net (2,836 ) Total consideration paid $ 48,443 Less: Contingent consideration liability (7,619 ) Total cash purchase price $ 40,824
Schedule of components of intangible assets	Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets as of September 30, 2016 (in thousands): Carrying Useful Life Intangible Asset Value in Years Customer contracts $ 116,642 3 - 12.5 Trademarks and tradenames 32,933 0 - 20 Non-compete agreements 4,830 3 - 20 Patents 3,221 3 - 15 Other assets 2,031 10 Internet domains 2,228 n/a Total customer contracts and other intangible assets $ 161,885

DERIVATIVE INSTRUMENTS AND HE22

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Tables
Schedule of outstanding derivatives not designated as hedges in qualifying hedging relationships [Table TextBlock]	As of September 30, 2016, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships (in thousands except for number of instruments): Non-Designated Derivative Summary Number of Sell Notional Buy Notional FX Forward Contracts Sell AUD/Buy USD Fwd Contract 1 $ 300 $ 210 Sell CAD/Buy USD Fwd Contract 1 $ 4,200 $ 3,098 Total 2 $ 3,308
Schedule of fair value of the Company's derivative financial instruments [Table TextBlock]	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2016 and December 31, 2015 (in thousands): Tabular Disclosure of Fair Values of Derivative Instruments Derivatives Asset Derivative Liabilities Fair Value as of: September 30, December 31, September 30, December 31, 2016 2015 2016 2015 Derivatives Not Designated as Hedging Instruments FX Forward Contracts Balance Sheet Location Other Assets Other Assets Other Current Liabilities Other Current Liabilities Sell AUD/Buy USD Fwd Contract $ 0 $ 0 $ (19 ) $ 0 Sell CAD/Buy USD Fwd Contract $ 0 $ 0 $ (103 ) $ 0 Total $ 0 $ 0 $ (122 ) $ 0
Schedule of Effect of Derivative Instruments on the Income Statement [Table TextBlock]	The table below presents the effect of the Company’s derivative financial instruments on the Income Statement as of September 30, 2016 and September 30, 2015 (in thousands): Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated as Hedging Instruments for the Three and Nine Months Ended September 30, 2016 and 2015 Derivatives Not Designated as Location of Gain or Amount of Gain or Amount of Gain or 2016 2015 2016 2015 Sell AUD/Buy USD Fwd Contract Other Inc/Exp $ (9 ) $ 0 $ (36 ) $ 0 Sell CAD/Buy USD Fwd Contract Other Inc/Exp 103 0 (476 ) 0 Total $ 94 $ 0 $ (512 ) $ 0
Schedule of total fair value classification of derivative transactions [Table TextBlock]	The table below presents the total fair value classification within the fair value hierarchy for the complete portfolio of derivative transactions at September 30, 2016 (in thousands): Recurring Fair Value Measurements Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Fair Value at As of September 30, September 30, September 30, September 30, 2016 2015 2016 2015 2016 2015 2016 2015 Assets Derivative Financial Instruments $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Liabilities Derivative Financial Instruments $ 0 $ 0 $ (122 ) $ 0 $ 0 $ 0 $ (122 ) $ 0

BASIS OF PREPARATION AND OTHER

BASIS OF PREPARATION AND OTHER (Details Narrative)	9 Months Ended
	Sep. 30, 2016Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Reportable Segment	1
Stock Split Ratio	Three-for-two stock split

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Common Stock [Member]
Total shares of common stock, basic (in dollars per share)	$ .23	$ 0.21	$ 0.59	$ 0.55
Total shares of common stock, diluted (in dollars per share)	0.23	0.21	0.59	0.55
Restricted Stock [Member]
Total shares of common stock, basic (in dollars per share)	0.23	0.21	0.59	0.55
Total shares of common stock, diluted (in dollars per share)	$ 0.23	$ 0.21	$ 0.59	$ 0.55

FAIR VALUE OF FINANCIAL INSTR25

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Line of Credit [Member]
Short-term Debt [Line Items]
Line of credit maximum borrowing capacity	$ 175,000
Outstanding borrowings	0	$ 0
Letter of Credit [Member]
Short-term Debt [Line Items]
Line of credit maximum borrowing capacity	75,000
Swingline Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit maximum borrowing capacity	$ 25,000

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash dividend paid			$ 65,506	$ 52,436
Cash dividend per share (in dollars per share)	$ .10	$ 0.08	$ .30	$ 0.24
Number of shares repurchased (in shares)	400,000		800,000	19,000
Par value of common stock (in dollars per share)	$ 1		$ 1		$ 1
Weighted average stock price of shares repurchased (in dollars per share)	$ 27.77		$ 27.19	$ 22.42
Repurchase of common stock from employees		$ 900	$ 8,300	$ 7,000
Common stock reserved for issuance upon exercise of stock options (in shares)	4,600		4,600
Tax benefits from share-based payments	$ 400	$ 100	$ 3,500	$ 1,800	$ 1,900
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 33,700		$ 33,700		$ 31,300
Unrecognized compensation cost, period for recognition			3 years 10 months 24 days		3 years 9 months 18 days

STOCKHOLDERS' EQUITY (Details 1

STOCKHOLDERS' EQUITY (Details 1) - Time Lapse Restricted Shares and Restricted Stock Units - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Time lapse restricted stock:
Pre-tax compensation expense	$ 3,049	$ 3,255	$ 9,429	$ 9,374
Tax benefit	(1,180)	(1,260)	(3,649)	(3,628)
Restricted stock expense, net of tax	$ 1,869	$ 1,995	$ 5,780	$ 5,746

STOCKHOLDERS' EQUITY (Details 2

STOCKHOLDERS' EQUITY (Details 2) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Unvested restricted stock activity
Balance outstanding at the beginning of the period (in shares) | shares	2,751
Forfeited (in shares) | shares	(53)
Vested (in shares) | shares	(876)
Granted (in shares) | shares	503
Balance outstanding at the end of the period (in shares) | shares	2,301
Weighted-Average Grant-Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 17.21
Forfeited (in dollars per share) | $ / shares	19.56
Vested (in dollars per share) | $ / shares	14.48
Granted (in dollars per share) | $ / shares	26.45
Balance at the end of the period (in dollars per share) | $ / shares	$ 20.19

PENSION AND POST RETIREMENT B29

PENSION AND POST RETIREMENT BENEFIT PLANS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Contribution by employer	$ 3,000	$ 5,000		$ 5,000
Subsequent Event [Member]
Further contributions to defined benefit retirement plan during the fiscal year			$ 300

PENSION AND POST RETIREMENT B30

PENSION AND POST RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Components of net periodic pension benefit Gain
Interest and service cost	$ 2,350	$ 2,250	$ 7,050	$ 6,750
Expected return on plan assets	(3,305)	(3,197)	(9,915)	(9,591)
Amortization of net loss	816	940	2,448	2,820
Net periodic loss/(benefit)	$ (139)	$ (7)	$ (417)	$ (21)

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Carrying amount of goodwill	$ 260,154	$ 249,939
Carrying amount of goodwill in foreign countries	47,200	36,900
Customer contracts
Business Acquisition [Line Items]
Carrying amount of finite lived intangible assets	116,600	92,800
Carrying amount of finite lived intangible assets in foreign countries	32,100	14,900
Other intangible assets
Business Acquisition [Line Items]
Carrying amount of finite lived intangible assets	45,200	46,100
Carrying amount of finite lived intangible assets in foreign countries	$ 4,400	$ 4,200

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 260,154	$ 249,939
Acquisition [Member]
Business Acquisition [Line Items]
Accounts receivable	3,185
Materials and supplies	352
Equipment and property	4,039
Goodwill	8,613
Customer contracts	40,861
Other intangible assets	1,065
Current liabilities	(6,836)
Other assets and liabilities, net	(2,836)
Total consideration paid	48,443
Less: Contingent consideration liability	(7,619)
Total cash purchase price	$ 40,824

BUSINESS COMBINATIONS (Detail33

BUSINESS COMBINATIONS (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 161,885
Internet domains
Business Acquisition [Line Items]
Infinite lived intangible assets fair value	2,228
Customer contracts
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 116,642
Customer contracts | Minimum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	3 years
Customer contracts | Maximum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	12 years 6 months
Trademarks and tradenames
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 32,933
Trademarks and tradenames | Minimum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	0 years
Trademarks and tradenames | Maximum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	20 years
Non-compete agreements
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 4,830
Non-compete agreements | Minimum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	3 years
Non-compete agreements | Maximum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	20 years
Patents
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 3,221
Patents | Minimum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	3 years
Patents | Maximum
Business Acquisition [Line Items]
Finite lived intangible assets useful life	15 years
Other Assets
Business Acquisition [Line Items]
Finite lived intangible assets fair value	$ 2,031
Finite lived intangible assets useful life	10 years

DERIVATIVE INSTRUMENTS AND HE34

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) $ in Thousands	Sep. 30, 2016USD ($)Number
Number of Instruments | Number	2
Buy Notional	$ 3,308
Sell AUD/Buy USD Fwd Contract [Member]
Number of Instruments | Number	1
Sell Notional	$ 300
Buy Notional	$ 210
Sell CAD/Buy USD Fwd Contract [Member]
Number of Instruments | Number	1
Sell Notional	$ 4,200
Buy Notional	$ 3,098

DERIVATIVE INSTRUMENTS AND HE35

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) $ in Thousands	Sep. 30, 2016USD ($)
Other Derivative Liabilities	$ (122)
Sell AUD/Buy USD Fwd Contract [Member]
Other Derivative Liabilities	(19)
Sell CAD/Buy USD Fwd Contract [Member]
Other Derivative Liabilities	$ (103)

DERIVATIVE INSTRUMENTS AND HE36

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 3) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Amount of Gain or (Loss) Recognized in Income	$ 94	$ (512)
Sell AUD/Buy USD Fwd Contract [Member]
Location of Gain or (Loss) Recognized in Income		Other Inc/Exp
Amount of Gain or (Loss) Recognized in Income	(9)	$ (36)
Sell CAD/Buy USD Fwd Contract [Member]
Location of Gain or (Loss) Recognized in Income		Other Inc/Exp
Amount of Gain or (Loss) Recognized in Income	$ 103	$ (476)

DERIVATIVE INSTRUMENTS AND HE37

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 4) $ in Thousands	Sep. 30, 2016USD ($)
Derivative Liabilities	$ (122)
Fair Value, Measurements, Recurring [Member]
Derivative Liabilities	(122)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Liabilities	$ (122)

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	Oct. 25, 2016$ / shares
Dividend declared quarterly (in dollars per share)	$ .10
Special year-end dividend (in dollars per share)	$ 0.10