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 Cumulative Effect Changes in Consolidated Balance Sheet

The cumulative effect of the changes made to our January 1, 2018 unaudited Consolidated Balance Sheet for the adoption of Topic 606 was as follows (in thousands):

 

    Balance at     Adjustment     Opening balance at  
    December 31,     Due to     January 1,  
    2017     Topic 606     2018  
                   
LIABILITIES AND STOCKHOLDERS’ EQUITY                        
Current liabilities:                        
Disposal/transportation accrual   $ 2,071     $ (455 )   $ 1,616  
Deferred revenue     4,311       772       5,083  
                         
Stockholders’ Equity:                        
Accumulated deficit   $ (77,893 )   $ (317 )   $ (78,210 )

Schedule of Impact of Adoption of Topic 606

In accordance with Topic 606 requirements, the disclosure of the impact of adoption of Topic 606 on our unaudited Consolidated Balance Sheets, Consolidated Statement of Operations, and Consolidated Statement of Comprehensive Income was as follows (in thousands):

 

Consolidated Balance Sheet   March 31, 2018  
          Balances Before        
          Adoption of     Effect of Change  
    As Reported     Topic 606     Higher/(Lower)  
                   
LIABILITIES AND STOCKHOLDERS’ EQUITY                        
Current liabilities:                        
Disposal/transportation accrual   $ 1,478     $ 2,003     $ (525 )
Deferred revenue     4,620       5,507       (887 )
                         
Stockholders’ Equity:                        
Accumulated deficit   $ (78,074 )   $ (78,028 )   $ (46 )

 

Consolidated Statement of Operations   For the three months ended March 31, 2018  
          Balances Before        
          Adoption of     Effect of Change  
    As Reported     Topic 606     Higher/(Lower)  
                   
Revenues   $ 12,658     $ 12,773     $ (115 )
Cost of goods sold     9,337       9,406       (69 )
Income from continuing operations, net of taxes     253       299       (46 )
Net income attributable to Perma-Fix Services, Inc. common stockholders     136       182       (46 )
                         
Net income attributable to Perma-Fix Environmental Services, Inc. common stockholders - basic and diluted:                        
Continuing operations   $ .02     $ .02     $ ―  
Net income per common shares   $ .01     $ .01     $ ―  

 

Consolidated Statement of Comprehensive Income

 

    For the three months ended March 31, 2018  
    As Reported     Balances Before Adoption of
Topic 606 		    Effect of Change Higher/(Lower)  
                   
Net income   $ 96     $ 142     $ (46 )
Comprehensive income attributable to Perma-Fix Environmental Services, Inc. stockholders     128       174       (46 )