Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 27, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | GORMAN RUPP CO | |
Entity Central Index Key | 42,682 | |
Trading Symbol | grc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 26,106,623 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net sales | $ 93,976 | $ 91,346 | $ 284,451 | $ 287,868 |
Cost of products sold | 67,777 | 68,676 | 210,912 | 219,061 |
Gross profit | 26,199 | 22,670 | 73,539 | 68,807 |
Selling, general and administrative expenses | 14,242 | 12,819 | 43,107 | 40,190 |
Impairment of goodwill and other intangible assets | 4,098 | 4,098 | ||
Operating income | 7,859 | 9,851 | 26,334 | 28,617 |
Other income, net | 98 | 551 | 750 | 676 |
Income before income taxes | 7,957 | 10,402 | 27,084 | 29,293 |
Income taxes | 2,255 | 3,475 | 8,469 | 9,464 |
Net income | $ 5,702 | $ 6,927 | $ 18,615 | $ 19,829 |
Earnings per share (in dollars per share) | $ 0.22 | $ 0.27 | $ 0.71 | $ 0.76 |
Cash dividends per share (in dollars per share) | $ 0.115 | $ 0.105 | $ 0.345 | $ 0.315 |
Average number of shares outstanding (in shares) | 26,106,623 | 26,091,123 | 26,098,925 | 26,086,141 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 5,702 | $ 6,927 | $ 18,615 | $ 19,829 |
Cumulative translation adjustments | 1,255 | 241 | 3,119 | 1,487 |
Pension and postretirement medical liability adjustments, net of tax | 472 | 228 | 3,028 | 710 |
Other comprehensive income | 1,727 | 469 | 6,147 | 2,197 |
Comprehensive income | $ 7,429 | $ 7,396 | $ 24,762 | $ 22,026 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and cash equivalents | $ 75,958 | $ 57,604 |
Accounts receivable, net | 67,964 | 71,424 |
Inventories, net | 73,803 | 69,049 |
Prepaid and other | 7,398 | 5,823 |
Total current assets | 225,123 | 203,900 |
Property, plant and equipment, net | 117,471 | 122,067 |
Other assets | 8,451 | 7,769 |
Prepaid pension assets | 7,740 | 6,211 |
Goodwill and other intangible assets, net | 37,879 | 42,871 |
Total assets | 396,664 | 382,818 |
Liabilities and equity | ||
Accounts payable | 16,624 | 16,306 |
Payroll and employee related liabilities | 14,961 | 11,336 |
Commissions payable | 6,822 | 11,163 |
Deferred revenue | 551 | 1,361 |
Accrued expenses | 8,322 | 9,186 |
Total current liabilities | 47,280 | 49,352 |
Postretirement benefits | 21,238 | 20,709 |
Other long-term liabilities | 9,137 | 9,869 |
Total liabilities | 77,655 | 79,930 |
Equity: | ||
Common shares outstanding: 26,106,623 at September 30, 2017 and 26,093,123 at December 31, 2016 (net of treasury shares of 942,173 and 955,673, respectively), at stated capital amounts | 5,100 | 5,097 |
Additional paid-in capital | 526 | 215 |
Retained earnings | 327,701 | 318,041 |
Accumulated other comprehensive loss | (14,318) | (20,465) |
Total equity | 319,009 | 302,888 |
Total liabilities and equity | $ 396,664 | $ 382,818 |
Consolidated Balance Sheets (C5
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares | Sep. 30, 2017 | Dec. 31, 2016 |
Common shares outstanding (in shares) | 26,106,623 | 26,093,123 |
Treasury shares (in shares) | 942,173 | 955,673 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 18,615 | $ 19,829 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 11,406 | 11,604 |
Pension expense | 5,696 | 2,737 |
Pension contributions | (2,000) | (8,000) |
Impairment of goodwill and other intangible assets | 4,098 | |
Gain on sale of property, plant and equipment | (48) | (974) |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 4,570 | 2,869 |
Inventories, net | (3,377) | 8,294 |
Accounts payable | (278) | 467 |
Commissions payable | (4,593) | 3,260 |
Deferred revenue | (810) | 492 |
Income taxes | 909 | (568) |
Accrued expenses and other | (4,117) | 9,776 |
Benefit obligations | 3,341 | 2,423 |
Net cash provided by operating activities | 33,412 | 52,209 |
Cash used for investing activities: | ||
Capital additions | (4,840) | (5,613) |
Proceeds from sale of property, plant and equipment | 294 | 1,284 |
Purchase of short-term investments, net | (2,975) | |
Net cash used for investing activities | (7,521) | (4,329) |
Cash used for financing activities, cash dividends | (9,004) | (8,217) |
Effect of exchange rate changes on cash | 1,467 | 294 |
Net increase in cash and cash equivalents | 18,354 | 39,957 |
Cash and cash equivalents: | ||
Beginning of period | 57,604 | 23,724 |
End of period | $ 75,958 | $ 63,681 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation of Financial Statements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | NOTE 1 - BASIS OF PRESENTATION OF FINANCIAL STATEMENTS The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10 not presentation have been included. Operating results for the three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016, |
Note 2 - Recently Issued Accoun
Note 2 - Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 - RECENTLY ISSUED ACCOUNTING STANDARDS The Company considers the applicability and impact of all Accounting Standard Updates (“ASUs”). ASUs not either to be not In March 2017, No. 2017 07, 715 December 15, 2017 2017 07 6 not 2017 07 In January 2017, No. 2017 04, 350 December 15, 2019 three September 30, 2017. 2017 04 2017 04 2017 04 not third 2017. 8 In February 2016, 2016 02, 842 ,” which requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with a term of more than one December 15, 2018 not 2016 02 not In May 2014, 2014 09, 606 Subsequent accounting standards updates have been issued, which amend and/or clarify the application of ASU 2014 09. December 15, 2017. not |
Note 3 - Inventories
Note 3 - Inventories | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 - INVENTORIES Inventories are stated at the lower of cost or market. The costs for approximately 72% September 30, 2017 December 31, 2016 first first first $59.7 $58.4 September 30, 2017 December 31, 2016, Allowances for excess and obsolete inventory totaled $ 4.9 $4.5 September 30, 2017 December 31, 2016, The major components of net inventories are as follows: September 3 0 , 2017 December 31, 2016 Raw materials and in-process $ 20,406 $ 17,986 Finished parts 46,126 43,423 Finished products 7,271 7,640 Total net inventories $ 73,803 $ 69,049 |
Note 4 - Property, Plant and Eq
Note 4 - Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: September 3 0 , 2017 December 31, 2016 Land $ 4,148 $ 4,099 Buildings 106,356 104,952 Machinery and equipment 168,190 165,157 278,694 274,208 Less accumulated depreciation (161,223 ) (152,141 ) Property, plant and equipment, net $ 117,471 $ 122,067 |
Note 5 - Product Warranties
Note 5 - Product Warranties | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | NOTE 5 - PRODUCT WARRANTIES A liability is established for estimated future warranty and service claims based on historical claims experience and specific product failures. The Company expenses warranty costs directly to cost of products sold. Changes in the Company ’s product warranty liability are: September 3 0 , 2017 2016 Balance at beginning of year $ 1,435 $ 1,380 Provision 1,058 1,572 Claims (1,360 ) (1,418 ) Balance at end of period $ 1,133 $ 1,534 |
Note 6 - Pension and Other Post
Note 6 - Pension and Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 6 - PENSION AND OTHER POSTRETIREMENT BENEFITS The Company sponsors a defined benefit pension plan (“Plan”) covering certain domestic employees. Benefits are based on each covered employee ’s years of service and compensation. The Plan is funded in conformity with the funding requirements of applicable U.S. regulations. The Plan was closed to new participants effective January 1, 2008. 401 Additionally, the Company sponsors defined contribution pension plans made available to all domestic and Canadian employees. The Company funds the cost of these benefits as incurred. The Company also sponsors a non-contributory defined benefit postretirement health care plan that provides health benefits to certain domestic and Canadian retirees and their spouses. The Company funds the cost of these benefits as incurred. The following tables present the components of net periodic benefit cost: Pension Benefits Postretirement Benefits Three Months Ended September 3 0 , Three Months Ended September 3 0 , 2017 2016 2017 2016 Service cost $ 655 $ 709 $ 312 $ 298 Interest cost 599 659 203 210 Expected return on plan assets (1,138 ) (982 ) - - Recognized actuarial loss (gain) 436 525 (168 ) (174 ) Settlement loss 448 - - - Net periodic benefit cost $ 1,000 $ 911 $ 347 $ 334 Pension Benefits Postretirement Benefits Nine Months Ended September 3 0 , Nine Months Ended September 3 0 , 2017 2016 2017 2016 Service cost $ 2,078 $ 2,127 $ 937 $ 894 Interest cost 1,918 1,981 610 631 Expected return on plan assets (3,525 ) (2,947 ) - - Recognized actuarial loss (gain) 1,384 1,576 (505 ) (523 ) Settlement loss 3,841 - - - Net periodic benefit cost $ 5,696 $ 2,737 $ 1,042 $ 1,002 |
Note 7 - Accumulated Other Comp
Note 7 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 7 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes reclassifications out of accumulated other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Pension and other postretirement benefits: Recognized actuarial loss (a) $ 267 $ 351 $ 879 $ 1,053 Settlement loss (b) 305 - 2,493 - Settlement loss (c) 143 - 1,348 - Total before income tax $ 715 $ 351 $ 4,720 $ 1,053 Income tax (243 ) (123 ) (1,692 ) (343 ) Net of income tax $ 472 $ 228 $ 3,028 $ 710 (a) The recognized actuarial loss is included in the computation of net p eriodic benefit cost. See Note 6 (b) This portion of the settlement loss is included in cost of products sold on the condensed consolidated statements of income. (c) This portion of the settlement loss i s included in selling, general & administrative expenses on the condensed consolidated statements of income. The following tables summarize changes in balances for each component of accumulated other comprehensive income (loss): Currency Translation Pension and Other Accumulated Other Balance at January 1, 2017 $ (8,842 ) $ (11,623 ) $ (20,465 ) Reclassification adjustments - 4,720 4,720 Current period credit 3,119 54 3,173 Income tax expense - (1,746 ) (1,746 ) Balance at September 30, 2017 $ (5,723 ) $ (8,595 ) $ (14,318 ) Currency Translation Pension and Other Accumulated Other Balance at January 1, 2016 $ (9,057 ) $ (13,358 ) $ (22,415 ) Reclassification adjustments - 1,053 1,053 Current period credit 1,487 - 1,487 Income tax expense - (343 ) (343 ) Balance at September 30, 2016 $ (7,570 ) $ (12,648 ) $ (20,218 ) |
Note 8 - Impairment Charges
Note 8 - Impairment Charges | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | NOTE 8 – IMPAIRMENT CHARGES The decreasing demand for barge pumps for the marine transportation market, driven by low oil prices and overcapacity of inland barges, has continued to negatively affect the Bayou City Pump Company (“Bayou”) reporting unit, leading management to reconsider its estimates for future profitability of this reporting unit during the third 2017 2017 04 $0.9 $3.2 |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 3 0 , 2017 December 31, 2016 Raw materials and in-process $ 20,406 $ 17,986 Finished parts 46,126 43,423 Finished products 7,271 7,640 Total net inventories $ 73,803 $ 69,049 |
Note 4 - Property, Plant and 16
Note 4 - Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 3 0 , 2017 December 31, 2016 Land $ 4,148 $ 4,099 Buildings 106,356 104,952 Machinery and equipment 168,190 165,157 278,694 274,208 Less accumulated depreciation (161,223 ) (152,141 ) Property, plant and equipment, net $ 117,471 $ 122,067 |
Note 5 - Product Warranties (Ta
Note 5 - Product Warranties (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | September 3 0 , 2017 2016 Balance at beginning of year $ 1,435 $ 1,380 Provision 1,058 1,572 Claims (1,360 ) (1,418 ) Balance at end of period $ 1,133 $ 1,534 |
Note 6 - Pension and Other Po18
Note 6 - Pension and Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Costs of Retirement Plans [Table Text Block] | Pension Benefits Postretirement Benefits Three Months Ended September 3 0 , Three Months Ended September 3 0 , 2017 2016 2017 2016 Service cost $ 655 $ 709 $ 312 $ 298 Interest cost 599 659 203 210 Expected return on plan assets (1,138 ) (982 ) - - Recognized actuarial loss (gain) 436 525 (168 ) (174 ) Settlement loss 448 - - - Net periodic benefit cost $ 1,000 $ 911 $ 347 $ 334 Pension Benefits Postretirement Benefits Nine Months Ended September 3 0 , Nine Months Ended September 3 0 , 2017 2016 2017 2016 Service cost $ 2,078 $ 2,127 $ 937 $ 894 Interest cost 1,918 1,981 610 631 Expected return on plan assets (3,525 ) (2,947 ) - - Recognized actuarial loss (gain) 1,384 1,576 (505 ) (523 ) Settlement loss 3,841 - - - Net periodic benefit cost $ 5,696 $ 2,737 $ 1,042 $ 1,002 |
Note 7 - Accumulated Other Co19
Note 7 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Pension and other postretirement benefits: Recognized actuarial loss (a) $ 267 $ 351 $ 879 $ 1,053 Settlement loss (b) 305 - 2,493 - Settlement loss (c) 143 - 1,348 - Total before income tax $ 715 $ 351 $ 4,720 $ 1,053 Income tax (243 ) (123 ) (1,692 ) (343 ) Net of income tax $ 472 $ 228 $ 3,028 $ 710 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Currency Translation Pension and Other Accumulated Other Balance at January 1, 2017 $ (8,842 ) $ (11,623 ) $ (20,465 ) Reclassification adjustments - 4,720 4,720 Current period credit 3,119 54 3,173 Income tax expense - (1,746 ) (1,746 ) Balance at September 30, 2017 $ (5,723 ) $ (8,595 ) $ (14,318 ) Currency Translation Pension and Other Accumulated Other Balance at January 1, 2016 $ (9,057 ) $ (13,358 ) $ (22,415 ) Reclassification adjustments - 1,053 1,053 Current period credit 1,487 - 1,487 Income tax expense - (343 ) (343 ) Balance at September 30, 2016 $ (7,570 ) $ (12,648 ) $ (20,218 ) |
Note 3 - Inventories (Details T
Note 3 - Inventories (Details Textual) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Percentage of LIFO Inventory | 72.00% | 72.00% |
Inventory, LIFO Reserve | $ 59.7 | $ 58.4 |
Inventory Valuation Reserves | $ 4.9 | $ 4.5 |
Note 3 - Inventories - Inventor
Note 3 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Raw materials and in-process | $ 20,406 | $ 17,986 |
Finished parts | 46,126 | 43,423 |
Finished products | 7,271 | 7,640 |
Total net inventories | $ 73,803 | $ 69,049 |
Note 4 - Property, Plant and 22
Note 4 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Property, plant and equipment, gross | $ 278,694 | $ 274,208 |
Less accumulated depreciation | (161,223) | (152,141) |
Property, plant and equipment, net | 117,471 | 122,067 |
Land [Member] | ||
Property, plant and equipment, gross | 4,148 | 4,099 |
Building [Member] | ||
Property, plant and equipment, gross | 106,356 | 104,952 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | $ 168,190 | $ 165,157 |
Note 5 - Product Warranties - P
Note 5 - Product Warranties - Product Warranties (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Balance at beginning of year | $ 1,435 | $ 1,380 |
Provision | 1,058 | 1,572 |
Claims | (1,360) | (1,418) |
Balance at end of period | $ 1,133 | $ 1,534 |
Note 6 - Pension and Other Po24
Note 6 - Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Pension Plan [Member] | ||||
Service cost | $ 655 | $ 709 | $ 2,078 | $ 2,127 |
Interest cost | 599 | 659 | 1,918 | 1,981 |
Expected return on plan assets | (1,138) | (982) | (3,525) | (2,947) |
Recognized actuarial loss (gain) | 436 | 525 | 1,384 | 1,576 |
Settlement loss | 448 | 3,841 | ||
Net periodic benefit cost | 1,000 | 911 | 5,696 | 2,737 |
Postretirement Health Coverage [Member] | ||||
Service cost | 312 | 298 | 937 | 894 |
Interest cost | 203 | 210 | 610 | 631 |
Expected return on plan assets | ||||
Recognized actuarial loss (gain) | (168) | (174) | (505) | (523) |
Settlement loss | ||||
Net periodic benefit cost | $ 347 | $ 334 | $ 1,042 | $ 1,002 |
Note 7 - Accumulated Other Co25
Note 7 - Accumulated Other Comprehensive Income (Loss) - Reclassification Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Total before income tax | $ (7,957) | $ (10,402) | $ (27,084) | $ (29,293) | |
Income tax | 2,255 | 3,475 | 8,469 | 9,464 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Recognized actuarial loss (a) | [1] | 267 | 351 | 879 | 1,053 |
Total before income tax | 715 | 351 | 4,720 | 1,053 | |
Income tax | (243) | (123) | (1,692) | (343) | |
Net of income tax | 472 | 228 | 3,028 | 710 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Cost of Sales [Member] | |||||
Settlement loss | [2] | 305 | 2,493 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Selling, General and Administrative Expenses [Member] | |||||
Settlement loss | [3] | $ 143 | $ 1,348 | ||
[1] | The recognized actuarial loss is included in the computation of net periodic benefit cost. See Note 6 for additional details. | ||||
[2] | This portion of the settlement loss is included in cost of products sold on the condensed consolidated statements of income. | ||||
[3] | This portion of the settlement loss is included in selling, general & administrative expenses on the condensed consolidated statements of income. |
Note 7 - Accumulated Other Co26
Note 7 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) as Reported in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Balance | $ 302,888 | |
Balance | 319,009 | |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | (8,842) | $ (9,057) |
Reclassification adjustments | ||
Current period credit | 3,119 | 1,487 |
Income tax expense | ||
Balance | (5,723) | (7,570) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | (11,623) | (13,358) |
Reclassification adjustments | 4,720 | 1,053 |
Current period credit | 54 | |
Income tax expense | (1,746) | (343) |
Balance | (8,595) | (12,648) |
AOCI Attributable to Parent [Member] | ||
Balance | (20,465) | (22,415) |
Reclassification adjustments | 4,720 | 1,053 |
Current period credit | 3,173 | 1,487 |
Income tax expense | (1,746) | (343) |
Balance | $ (14,318) | $ (20,218) |
Note 8 - Impairment Charges (De
Note 8 - Impairment Charges (Details Textual) $ in Millions | 3 Months Ended |
Sep. 30, 2017USD ($) | |
Goodwill, Impairment Loss | $ 0.9 |
Customer Relationships [Member] | |
Impairment of Intangible Assets, Finite-lived | $ 3.2 |