Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2013

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In February 2013, the FASB issued an accounting standards update that requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amounts are required to be reclassified in their entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference to other required disclosures that provide additional detail about those amounts. This guidance is effective for the Company's fiscal year beginning January 1, 2013. The Company adopted the new guidance effective January 1, 2013. The adoption of the guidance did not have an impact on its consolidated financial statements. During the three months ended March 31, 2013, the only change in the Company's accumulated other comprehensive income accounts related to foreign currency translations gains and losses (as presented on the consolidated statements of comprehensive income), of which none was reclassified to the consolidated statements of income. As of March 31, 2013 and December 31, 2012, the Company's accumulated other comprehensive income balances only included foreign currency translations gains and losses.