Adoption of New Accounting Standards

6 Months Ended

Jun. 30, 2013

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Adoption of New Accounting Standards

In February 2013, FASB issued Accounting Standards Update No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-12”).  ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income.  The amended guidance does not change the current requirements for reporting net income or other comprehensive income in financial statements.  However, the amended guidance requires an entity to provide information regarding the amounts reclassified out of accumulated other comprehensive income by component, either on the face of the statement where net income is presented or in the notes to the condensed consolidated financial statements.  The amended guidance was effective for financial periods beginning after December 15, 2012.  ASU 2013-02 did not have a material effect on the Company's consolidated financial position or results of operations.