Recently Adopted Accounting Pronouncements

12 Months Ended

Dec. 28, 2013

Accounting Changes And Error Corrections [Abstract]

Recently Adopted Accounting Pronouncements

3. Recently Adopted Accounting Pronouncements

In December 2011, the Financial Accounting Standards Board (FASB) issued ASU 2011-11 Disclosures about Offsetting Assets and Liabilities. Subsequently, in February 2013, the FASB issued ASU 2013-1, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. These updates amended the guidance related to disclosures about offsetting assets and liabilities, including recognized financial instruments and derivatives. We have adopted the guidance effective on December 29, 2012, and have provided the required information in Note 8.

In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The guidance amends the requirements of ASC 220, Comprehensive Income. The goal behind the amendments is to improve the transparency of reporting reclassifications out of accumulated other comprehensive income. It does not change current requirements for reporting net income or other comprehensive income in the financial statements. We have adopted the guidance effective December 29, 2012, and have provided the required information in Note 16.