In the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) - . The FASB issued this ASU to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases under current U.S. GAAP and disclosing key information about leasing arrangements. The amendments in this ASU were effective for the Company on The Company elected the practical expedients allowed by the amendments as follows: ) forego an assessment of whether any existing contracts are or contain leases, ) forego an assessment of the classification of existing leases as to whether they are operating leases or capital leases, and ) forego an assessment of direct costs for any existing leases. Upon adoption on the Company recorded right-of-use assets and related lease liabilities of million and did restate comparative periods. There was impact on the Company’s consolidated statements of income or cash flows. See Note – Leases for additional information.

 

In the FASB issued ASU - These amendments expand the scope of Topic Compensation - Stock Compensation, which only included share-based payments to employees, to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees are now substantially aligned. The ASU superseded Subtopic - Equity – Equity-Based Payments to Non-Employees. The Company adopted this ASU effective However, the amendments did have an impact on the Company’s Consolidated Financial Statements because it does currently have any stock-based payment awards outstanding to nonemployees.

 

In the FASB issued ASU - The amendments shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments in this ASU were effective for the Company as of The amendments in this ASU did impact the Company’s Consolidated Financial Statements, as it has always amortized premiums to the call date.