In the FASB issued ASU - (“ASU - which is intended to simplify 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. ASU - is effective for annual periods beginning after and interim periods within those annual periods. Early adoption was permitted. The Company elected to early adopt the provisions of this ASU during the quarter of and retrospectively apply the changes in accounting for stock compensation back to the quarter of In so doing, the Company recognized a million reduction in its provision for income taxes in the quarter of million during the year ended and million in the quarter of related to the exercise and vesting of stock options and restricted stock. Prior to the adoption of ASU - such tax benefits were recorded as an increase to additional paid-in capital.

 

In the FASB issued ASU - ASU - provides amendments that add paragraph --- which includes the text of "SEC Staff Announcement: Disclosure of the Impact That Recently Issued Accounting Standards Will Have on the Financial Statements of a Registrant When Such Standards Are Adopted in a Future Period” (in accordance with Staff Accounting Bulletin (SAB) Topic Registrants are required to disclose the effect that recently issued accounting standards will have on their financial statements when adopted in a future period. In cases where a registrant cannot reasonably estimate the impact of the adoption, then additional qualitative disclosures should be considered to assist the reader in assessing the significance of the standard's impact on its financial statements. The Company has enhanced its disclosures regarding the impact of recently issued accounting standards adopted in a future period will have on its accounting and disclosures.