Summary Of Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary of Significant Accounting Policies

The significant accounting policies used in preparation of these condensed consolidated financial statements for the three months ended March 31, 2013 are consistent with those discussed in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2012.

In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("AOCI"). The new ASU requires entities to disclose in a single location (either on the face of the financial statement that reports net income or in the notes) the effects of reclassifications out of accumulated other comprehensive income. For items reclassified out of AOCI in their entirety, entities must disclose the effect of the reclassification on each affected net income item. For AOCI reclassification items that are not reclassified in their entirety into net income, entities must provide a cross reference to other required U.S. GAAP disclosures. The new disclosure requirements are effective for annual reporting after December 15, 2012, and interim periods within those years. No reclassifications out of AOCI were made by the Company for the three months ended March 31, 2013 or the three months ended April 1, 2012 and therefore no additional AOCI disclosure is presented in our 2013 10Q filing.

There were no additional new accounting pronouncements adopted during the three months ended March 31, 2013 that had a material impact on our financial statements.

Subsequent Events - The Company evaluated subsequent events through the time of issuance of these financial statements. On April 9, 2013, Scott A. Buckhout was appointed as our new President and Chief Executive Officer and was granted a Stock Option Inducement Award ("Inducement Award"). The number of shares subject to the Inducement Award is 200,000 at an exercise price of $41.17 per share subject to certain performance conditions. See additional information in our Form 8-K filed on April 15, 2013.