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&lt;p style="MARGIN: 0in 0in 0pt;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;In February&amp;#160;2013, the FASB issued Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) 2013-02, &lt;i&gt;Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income&lt;/i&gt;. ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required to be reclassified in its 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 other disclosures that provide additional detail about those amounts. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. For public entities, the amendments in ASU 2013-02 were effective prospectively for interim and annual reporting periods beginning after December&amp;#160;15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company&amp;#8217;s consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
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&lt;p style="MARGIN: 0in 0in 0pt;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;In July&amp;#160;2012, the FASB issued ASU 2012-02,&amp;#160;&lt;i&gt;Intangibles&amp;#8212;Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.&lt;/i&gt; ASU 2012-02 allows an entity to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. Under these amendments, an entity would not be required to calculate the fair value of an indefinite-lived intangible asset unless the entity determines, based on qualitative assessment, that it is not more likely than not, the indefinite lived intangible asset is impaired. The amendments include a number of events and circumstances for an entity to consider in conducting the qualitative assessment. The amendments were effective for annual and interim impairment tests performed for fiscal years beginning after September&amp;#160;15, 2012. The adoption of ASU 2012-02 did not have a material impact on the Company&amp;#8217;s consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
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