Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
Adoption of the standard related to revenue recognition impacted our previously reported results as follows (in thousands, except per share amounts):
 
 
 
As reported in prior year
 
Retrospective Adjustment
 
As reported in current year
Consolidated Statements of Income:
 
 
 
 
 
 
For the three months ended March 31, 2017
 
 
 
 
 
 
 
Revenue
 
$
24,229

 
$
6,178

 
$
30,407

 
Taxes, other than income taxes
 
660

 
(605
)
 
55

 
Income taxes
 
7,228

 
2,410

 
9,638

 
Net income
 
14,886

 
4,373

 
19,259

 
Net income per Sub-share Certificate
 
$
1.88

 
$
0.55

 
$
2.43

 
 
 
 
 
 
 
 
Consolidated Balance Sheets:
 
 
 
 
 
 
As of December 31, 2017
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
Accrued receivables
 
$
18,206

 
$
(433
)
 
$
17,773

 
Deferred tax asset (liability)
 
6,992

 
(7,106
)
 
(114
)
 
 
 
 
 
 
 
 
 
Liabilities and Capital:
 
 
 
 
 
 
 
Unearned revenue
 
$
41,375

 
$
(33,011
)
 
$
8,364

 
Other taxes payable
 
433

 
(433
)
 
—

 
Net proceeds from all sources
 
79,997

 
25,905

 
105,902

 
 
 
 
 
 
 
 
Adoption of the standard related to presentation of net periodic pension cost and the standard related to revenue recognition impacted our previously reported results for operating income and other income as follows (in thousands):
 
 
 
As reported in prior year
 
Retrospective Adjustment
 
As reported in current year
Consolidated Statements of Income:
 
 
 
 
 
 
For the three months ended March 31, 2017
 
 
 
 
 
 
 
Operating income (1)
 
$
22,104

 
$
6,786

 
$
28,890

 
Other income
 
9

 
(2
)
 
7

 
 
 
 
 
 
 
 
 
(1)
The retrospective adjustment amount includes approximately $6.8 million related to the adoption of the new revenue recognition guidance as discussed above. The retrospective adjustment amount related to the adoption of the presentation of net periodic pension cost had a minimal impact.