ACCRUAL FOR TERMITE CONTRACTS
|12 Months Ended|
Dec. 31, 2018
|Commitments and Contingencies Disclosure [Abstract]|
|ACCRUAL FOR TERMITE CONTRACTS||
14. ACCRUAL FOR TERMITE CONTRACTS
In accordance with the FASB ASC Topic 450 “Contingencies,” the Company maintains an accrual for termite claims representing the estimated costs of reapplications, repairs and associated labor and chemicals, settlements, awards and other costs relative to termite control services. Factors that may impact future cost include termiticide life expectancy and government regulation.
A reconciliation of changes in the accrual for termite contracts is as follows:
The accrual for termite contracts is included in other current liabilities, $2.2 million and $2.9 million at December 31, 2018 and 2017, respectively and long-term accrued liabilities, $1.0 million and $2.0 million at December 31, 2018 and 2017, respectively on the Company’s consolidated statements of financial position.
No definition available.
The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef