Effect of New Accounting Standards

3 Months Ended

Mar. 31, 2013

Recent And New Accounting Pronouncements [Abstract]

Recent And New Accounting Pronouncements [Policy Text Block]

In January 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which includes bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending arrangements that are either offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement. This guidance is effective for our fiscal year beginning October 1, 2013. We do not believe that the adoption of this guidance will have a material impact on our consolidated financial statements.

In February 2013, the FASB issued ASU No 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which provides additional disclosure requirements for items reclassified out of AOCI. This guidance is effective for our fiscal year beginning October 1, 2013. We do not believe that the adoption of this guidance will have a material impact on our consolidated financial statements.

In March 2013, the FASB issued ASU No. 2013-05, Parent's Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets Within a Foreign Entity or of an Investment in a Foreign Entity, which requires the entity to release the cumulative translation adjustmentrelated to a foreign investment when the sale or transfer of the investment represents the substantially complete liquidation of the investment, upon loss of control in the investment, or upon a step up acquisition in the investment. This guidance is effective for our fiscal year beginning October 1, 2014. We do not believe that the adoption of this guidance will have a material impact on our consolidated financial statements.