XML 28 R25.htm IDEA: XBRL DOCUMENT v2.3.0.15
New Accounting Pronouncements
9 Months Ended
Sep. 30, 2011
New Accounting Pronouncements [Abstract] 
New Accounting Pronouncements
New Accounting Pronouncements
 
In May 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-04, Amendments to Achieve Common Fair Value Measurementand Disclosure Requirements in U.S. GAAP and IFRSs, which amends ASC 820, FairValue Measurements, (“ASC 820”), providing a consistent definition and measurement of fair value, as well as similar disclosure requirements between U.S. GAAP and International Financial Reporting Standards. ASU 2011-04 changes certain fair value measurement principles, clarifies the application of existing fair value measurement and expands the ASC 820 disclosure requirement.  ASU 2011-04 will be effective for the Company beginning January 1, 2012.  The adoption of ASU 2011-04 is not expected to have a material effect on our consolidated financial statements or disclosures.
 
In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income, (“ASU 2011-05”).  ASU 2011-05 requires the presentation of comprehensive income in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements.  ASU 2011-05 will be effective for the Company beginning January 1, 2012.  The adoption of ASU 2011-05 is not expected to have a material effect on our consolidated financial statements or disclosures.
 
In September 2011, the FASB issued ASU 2011-08, Testing Goodwill for Impairment, (“ASU 2011-08”), which amends the guidance in ASC 350-20, Intangibles – Goodwill and Other – Goodwill.  Under ASU 2011-08, entities have the option of performing a qualitative assessment before calculating the fair value of the reporting unit when testing goodwill for impairment.  If the fair value of the reporting unit is determined, based on qualitative factors to be more likely than not less than the carrying amount of the reporting unit, then entities are required to perform the two-step goodwill impairments test.  ASU 2011- 08 will be effective for the Company's fiscal year beginning December 1, 2012, with early adoption permitted.  The adoption of ASU 2011-08 is not expected to have a material effect on our consolidated financial statements.