The contents of this presentation are confidential. Copyright © 2017 Workiva.
Common XBRL MistakesImpacting Data Quality
March 2017
Presenter
Lisa TeofiloSenior Manager of Professional Services
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Agenda
• Data Quality Committee (DQC) Validation Rules• ASU Adoption and Implementation• Taxonomy Updates
Data Quality Committee (DQC) Validation Rules
Summary of Rules• Twelve rules effective as of January 2017• Focus on data quality improvement areas
◦ Fact value validity
◦ Date context
◦ Axis/Domain/Member modeling
◦ Deprecated element usage
Data Quality Committee (DQC) Validation Rules
Summary of Rules
Rule No. Rule name Rule coverage
0001 Axis with Inappropriate Members 22 axes
0004 Element Values are Equal 1 relationship
0005 Context Dates After Period End Date 3 Scenarios
0006 DEI and Block Tag Date Contexts
0009 Element A </= Element B 13 relationships
0013 Negative Values With Dependence 19 elements
0014 Negative Values With No Dimensions 31 elements
0015 Negative Values 6,040 elements
0018 Deprecated Element Is Used in the Filing 1,299 deprecated elements - 2016 Taxonomy1,573 deprecated elements - 2015 Taxonomy
0033 Document Period End Date Context
0036 Document Period End Date Context/Fact Value Check
0041 Axis with a Default Member that Differs from the US GAAP Taxonomy 277 axes - 2016 Taxonomy284 axes - 2015 Taxonomy
DQC Rule Common Mistakes
Axis with Inappropriate Members• Cause consumers challenges with consistency and comparability• Highest Firing Errors
◦ Statement Equity Components [Axis]
◦ Legal Entity [Axis]
◦ Consolidation Items [Axis]
Axis with Inappropriate Members
Statement Equity Components [Axis]• Intended to disaggregate equity in to applicable components• Primary usage on the Statement of Shareholders' Equity• Common mistakes
▪ Class of stock usage error
▪ Total equity members error
Axis with Inappropriate MembersStatement Equity Components [Axis] - common mistakes• Class of stock usage error - Class A, B, C etc. on Equity Components Axis
• Correct usage: Separate axis for detailed class of stock components
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Total equity members error• Correct usage: "Parent" on sub-total before NCI, no member at all on grand
total
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Use "Parent [Member]" on sub-total before NCI• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Use "Parent [Member]" on sub-total before NCI• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
û
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Use "Parent [Member]" on sub-total before NCI• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
ü
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Total equity does not need any members - the default value• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Total equity does not need any members - the default value• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000
û
Axis with Inappropriate Members
Statement Equity Components [Axis] - common mistakes• Total equity does not need any members - the default value• Should not utilize Stockholders' Equity, Total [Member] or Shareholders' Equity
[Member]
CommonStock
AdditionalPaid-InCapital
AccumulatedOther
ComprehensiveIncome (Loss)
AccumulatedDeficit Total Parent
NoncontrollingInterest Total Equity
Balance at December 31, 2014 $ 1,000 $ 9,210,000 $ (2,000) $ (3,500,000) $ 5,709,000 $ 1,000 $ 5,710,000Consolidated net income — — — 618,000 618,000 1,000 619,000Other comprehensive income — — 1,000 — 1,000 — 1,000Distribution to noncontrolling interest — — — — — (3,000) (3,000)Issuance of shares — 42,000 — — 42,000 — 42,000ü
Axis with Inappropriate Members
Legal Entity [Axis]• Used to define details of specific legal entities• Common mistakes
▪ "Consolidation, Eliminations [Member]" usage error
▪ "Parent [Member]" usage error
Axis with Inappropriate Members
Legal Entity [Axis] - common mistakes• "Consolidation, Eliminations [Member]" usage error - inappropriate inclusion
under Legal Entity [Axis]• Member moved to Consolidation Items [Axis] since the US GAAP 2013 Taxonomy
2012 Taxonomy Current Taxonomies
üOutdated pairing
Axis with Inappropriate Members
Legal Entity [Axis] - common mistakes• "Parent [Member]" usage error - inappropriate use under Legal Entity [Axis]• "Parent Company [Member]" the proper legal entity member, vs. "Parent
[Member]" an equity component
ü
Axis with Inappropriate Members
Consolidation Items [Axis]• Used to reconcile values for operating segments and consolidated entity• Common mistakes
▪ Legal entity names
▪ Not utilizing the approved extensions
Axis with Inappropriate Members
Consolidation Items [Axis] - common mistakes• Legal entity names• Extended members to identify legal entity names should be used under Legal
Entity [Axis]
Axis with Inappropriate Members
Consolidation Items [Axis] - common mistakes• Understanding entities vs other consolidating reconciliations
Parent GuarantorNon-
Guarantor Eliminations Consolidated
Assets:
Cash and cash equivalents $ 2,154 $ 656 $ — $ — $ 2,810
Accounts Receivable 1,147 785 100 (544) $ 1,488
Prepaid expenses 324 70 78 — $ 472
M1 M2 M3 M4 No Member
M1, M2, M3 - financial information of specific entities (Current usage on Legal Entity [Axis])M4 - other items to reconcile to consolidated value (Consolidated Items [Axis])
Axis with Inappropriate Members
Consolidation Items [Axis] - common mistakes• Not utilizing the approved extensions• Correct usage: follow the exact extension name, including capitalization
▪ CorporateReconcilingItemsAndEliminationsMember,
▪ CorporateAndReconcilingItemsMember,
▪ CorporateAndEliminationsMember,
▪ EliminationsAndReconcilingItemsMember,
▪ OperatingSegmentsAndCorporateNonSegmentMember
• DQC Rules: https://xbrl.us/data-rule/guid-tag/
ASU Adoption and Implementation
• Debt issuance costs (ASU 2015-03)• Deferred tax asset and liability classification (ASU 2015-17)• Net Asset Value practical expedient (ASU 2015-07)
ASU Adoption and Implementation
Debt Issuance Costs (ASU 2015-03)• ASU requires debt issuance costs to be presented as direct deduction from
carrying amount of related liability• Consistent approach with debt discounts• Elements were modified and new structure added to 2016 Taxonomy
Debt Issuance Costs (ASU 2015-03)
Data review of debt issuance elements• Almost 1,000 elements related to "debt issuance" used in 2016 filings• Less than 30 elements in the standard taxonomy reference debt issuance• Identified other issues with Amortization and Carrying Value tagging
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Unnecessary extension utilized
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuance costs (3,121) (2,233)Total 691,879 547,767
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Unnecessary extension utilized• 8 of top 30 debt issuance extensions
▪ DebtInstrumentUnamortizedDiscountAndDebtIssuanceCosts
▪ UnamortizedDebtIssuanceExpenseandDiscount
▪ UnamortizedDiscountandDebtIssuanceCosts
▪ UnamortizedDiscountsAndDebtIssuanceCosts
▪ DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostNet
▪ UnamortizedDebtIssuanceExpenseandDiscountsPremiums
▪ DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCosts
▪ DebtInstrumentUnamortizedDiscountAndDebtIssuanceCost
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Unnecessary extension utilized
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuance costs (3,121) (2,233)Total 691,879 547,767
New 2016 Element!
Debt Issuance Costs (ASU 2015-03)
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work - What works
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Long-Term debt, net 691,879 547,767Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work - What works
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Long-Term debt, net 691,879 547,767Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
UGT Relationships:
Long-Term Debt, Excluding Current Maturities (L4)+ Long-Term Debt, Current Maturities (L3)= Long-Term Debt (L5)
Long-Term Debt, Gross (L1)- Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (L2)= Long-Term Debt (L5)
L1
L3
L4
L2
? L5
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work - What works
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Long-Term debt, net 691,879 547,767Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
UGT Relationships:
Long-Term Debt, Excluding Current Maturities (L4)+ Long-Term Debt, Current Maturities (L3)= Long-Term Debt (L5)
Long-Term Debt, Gross (L1)- Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (L2)= Long-Term Debt (L5)
L1
L3
L4
L2
ü L5
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work - What doesn't
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work
▪ Common presentation would require defining the relationship backwards
▪ XBRL calculation would force a "+" calculation weight on unamortized issuance cost
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
Calculation based on presentation: Long-Term Debt, Excluding Current Maturities (L4)+ Long-Term Debt, Current Maturities (L3)+ Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (L2)= Long-Term Debt, Gross (L1)
?L2
L3
L4
L1
û
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work
▪ Common presentation would require defining the relationship backwards
▪ XBRL calculation would force a "+" calculation weight on unamortized issuance cost
December 31,2016
December 31,2015
1.25% Notes due on May 19, 2018 (3) $ 200,000 $ 200,0002.125% Notes due on May 19, 2020 (3) 350,000 350,0003.625% Notes due on May 19, 2025 (3) 145,000 —
695,000 550,000Unamortized discount and debt issuancecosts
(3,121) (2,233)Less: current maturities (81,832) (61,298)Net noncurrent debt 610,047 486,469
Calculation based on presentation: CR Long-Term Debt, Excluding Current Maturities (L4)+ CR Long-Term Debt, Current Maturities (L3)+ DR Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (L2)= CR Long-Term Debt, Gross (L1)
?L2
L3
L4
L1
û
Calculation based on XBRL balance type: CR Long-Term Debt, Excluding Current Maturities (L4)+ CR Long-Term Debt, Current Maturities (L3)- DR Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net (L2)= CR Long-Term Debt, Gross (L1)
Debt Issuance Costs (ASU 2015-03)
Common Mistake: Incorrect Fact Values• Making the calculation relationship work
▪ Defining backwards would cause negative fact value for discount and issuance costs
Calculation relationship basedon XBRL balance type is not avalid relation in this case, andshould not be defined.
ASU Adoption and Implementation
Deferred tax asset and liability classification (ASU 2015-17)• ASU updates classification of deferred taxes to noncurrent• Previously allocated to current and noncurrent• Common adoption mistakes
▪ Inconsistent use of Implementation Note guidance
Deferred Tax Asset and Liability Classification
Taxonomy implementationnotes highlight expectationof element usage based onprospective or retrospectiveadoption
Deferred Tax Asset and Liability Classification
December 31, 2016
December 31, 2015
ASSETS
Current Assets:
Cash and Cash Equivalents $ 3,200 $ 2,510
Receivables, net 1,544 1,309
Merchandise Inventories 11,271 11,032
Deferred taxes — 3,401
Other Current Assets 986 868
Total Current Assets 17,001 19,120
Property and Equipment, at cost 41,129 41,359
Less Accumulated Depreciation and Amortization (14,366) (14,268)
Net Property and Equipment 26,763 27,091
Deferred taxes 22,292 18,292
Goodwill and other intangibles 1,261 1,125
Other Assets 543 286
Total Assets $ 67,860 $ 65,914
December 31, 2016
December 31, 2015
ASSETS
Current Assets:
Cash and Cash Equivalents $ 3,200 $ 2,510
Receivables, net 1,544 1,309
Merchandise Inventories 11,271 11,032
Deferred taxes — 3,401
Other Current Assets 986 868
Total Current Assets 17,001 19,120
Property and Equipment, at cost 41,129 41,359
Less Accumulated Depreciation and Amortization (14,366) (14,268)
Net Property and Equipment 26,763 27,091
Deferred taxes 22,292 18,292
Goodwill and other intangibles 1,261 1,125
Other Assets 543 286
Total Assets $ 67,860 $ 65,914
Prospective Adoption Expectation Common incorrect application
L1
L1: DeferredTaxAssetsLiabilitiesNetCurrentL2: DeferredTaxAssetsLiabilitiesNetNoncurrentL3: n/aL4: DeferredIncomeTaxAssetsNet
L3
L2L4
L1L1
L1: DeferredTaxAssetsLiabilitiesNetCurrentL2: DeferredTaxAssetsLiabilitiesNetNoncurrent
L2L2
û(Also, "DeferredIncomeTaxAssetsNet"should be used for retrospective adoption)
ASU Adoption and Implementation
Net Asset Value practical expedient (ASU 2015-07)• Investments at NAV no longer are assigned to FV hierarchy level• Previously, NAV was Level 2 and Level 3• Different tagging approaches used causing challenges and review
Net Asset value Practical Expedient (ASU 2015-07)
• Same information, regardless of presentation style
Net Asset value Practical Expedient (ASU 2015-07)
Modeling analysis:• Current taxonomy approach is line item modeling• Data identifies different interpretation of modeling
▪ Various Axes with extended Members
▪ Extended elements
• Confusion in modeling results in open initiative for FASB Taxonomy updates
Taxonomy Updates
• Taxonomy has revisions each year• Not all revisions result in "auto" updating when migrating• Requires additional analysis and review of changes to incorporate updates• Results in inconsistent modeling for comparability or unnecessary extensions
▪ Accumulated Other Comprehensive Income modeling
▪ Axis/Member mismatch impacting future modeling
Taxonomy Updates
Accumulated Other Comprehensive Income Modeling• New Members added to 2015 Taxonomy for AOCI Members
▪ Added AOCI Members for Noncontrolling Interest
▪ Added AOCI Members for Including Noncontrolling Interest
• Prior Members Attributable to Parent were not deprecated• If disclosure was Including NCI or specific to NCI, Members needed to be
manually updated
Accumulated Other Comprehensive Income Modeling
Label and definition update, notdeprecated.
Use on "IncludingNoncontrolling Interest"disclosure would be incorrect.
Accumulated Other Comprehensive Income Modeling2014 Taxonomy Since 2015 Taxonomy
Accumulated Other Comprehensive Income Modeling
Highlight table to verify!
Taxonomy Updates
Axis/Member mismatch - Parent [Member]• Recap from prior slide:
▪ Legal Entity [Axis] - Parent Company [Member]
▪ Statement Equity Components [Axis] - Parent [Member]
• Anticipation of future taxonomy updates:◦ 2017 Taxonomy - Parent Company [Member] moving to new Axis
◦ Required action less obvious if Parent [Member] still used under Legal Entity [Axis]
• Taxonomy Implementation Guide▪ Dimensional Modeling for Disclosures of Consolidated and Nonconsolidated Entities
• Are you concerned about your axis usage or the number ofextended axis?
• Have you wondered if your XBRL data is current with the2016 Taxonomy?
• Are you concerned about getting a Dear CFO letter inregards to your XBRL?
Email [email protected] for a detailed overview.
XBRL Classroom Training Locations
In-depth, hands-on workshops
Visit workiva.com/education or email [email protected]
Upcoming 2017 dates and locations
Location XBRL Essentials XBRL Deep Dive XBRL Quality Review
Chicago March 14 March 15 March 16
San Diego March 14 March 15 March 16
Arlington March 21 March 22 March 23
Atlanta March 28 March 29 March 30
St. Louis May 16 May 17 May 18
Orlando May 23 May 24 May 25
San Francisco May 31 June 1 June 2
New York June 6 June 7 June 8
Houston June 13 June 14 June 15
The contents of this presentation are confidential. Copyright © 2017 Workiva.
Thank You!