1.0.0.3 false New Accounting Standards false 1 $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 New Accounting Standards [Abstract] 0 us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 New Accounting Standards 1 us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0   <div style="margin-left: 0%"> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left"> <tr> <td width="6%"></td> <td width="94%"></td> </tr> <tr valign="top"> <td> <b><font style="font-family: Arial, Helvetica">Note 2. </font></b> </td> <td> <b><font style="font-family: Arial, Helvetica">New Accounting Standards</font></b> </td> </tr> </table> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><font style="font-family: Arial, Helvetica">New Accounting Standards Adopted in 2009</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Accounting Standards Codification</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Accounting Standards Codification (ASC) has become the source of authoritative United States generally accepted accounting principles (U.S. GAAP). ASC changed the referencing of financial accounting standards and did not change or alter existing U.S. GAAP. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Fair Value Measurements</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 820, “Fair Value Measurements and Disclosures”, which delayed the effective date for disclosing all non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value on a recurring basis (at least annually). This standard did not have a material impact on the Company’s financial condition and results of operations. See Note 9, “Fair Value Measurements”. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 715, “Compensation-Retirement Benefits”, which requires additional disclosures about assets held in an employer’s defined benefit pension or other postretirement plan. This standard requires annual disclosures about the Company’s pension and other postretirement plan assets. The adoption of this standard did not affect the Company’s financial condition or results of operations. See Note 14, “Pensions and Postretirement Benefits”. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Two-class Method of Computing Earnings Per Share</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 260, “Earnings Per Share”, whereby unvested share-based payment awards that contain rights to receive nonforfeitable dividends or dividend equivalents (whether paid or unpaid) are considered participating securities, and thus, should be included in the two-class method of computing earnings per share (EPS). The adoption of this standard did not have a material impact on the Company’s disclosure of EPS. See Note 8, “Earnings Per Share”. </div>  </div>   <div style="margin-left: 0%">  <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b> <font style="font-family: Arial, Helvetica"> </font> </b> </div>  <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Disclosures about Derivative Instruments and Hedging Activities</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 815, “Derivatives and Hedging” requiring the Company to provide greater transparency through additional disclosures about (1) how and why the Company uses derivative instruments, (2) how derivative instruments and related hedged items are accounted for under U.S. GAAP, and (3) how derivative instruments and related hedged items affect the Company’s financial position, results of operations and cash flows. See Note 18, “Derivatives and Hedging Activities”. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Business Combinations and Noncontrolling Interests</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 810, “Consolidation”, and changed the presentation of its noncontrolling (minority) interests. The Company’s noncontrolling interests in its consolidated subsidiaries are presented separately within equity in the Consolidated Balance Sheet and within net income attributable to noncontrolling interests in the Consolidated Statement of Income. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 805, “Business Combinations” which significantly changed the accounting for and reporting of business combination transactions. This standard was effective for the Company for business combination transactions for which the acquisition date was on or after January 1, 2009. See Note 11, “Goodwill and Identifiable Intangible Assets”, for business combinations consummated during 2009. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><i><font style="font-family: Arial, Helvetica">Subsequent Events</font></i></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The Company adopted a new accounting standard included in ASC 855, “Subsequent Events” which requires the Company to recognize in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet. For nonrecognized subsequent events that must be disclosed to keep the financial statements from being misleading, the Company will be required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. In addition, this standard requires the Company to disclose the date through which subsequent events have been evaluated. The Company has evaluated subsequent events through the time of filing of these consolidated financial statements. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b><font style="font-family: Arial, Helvetica">New Accounting Standards Not Yet Adopted</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> In June 2009, new accounting guidance was issued that is included in ASC 810, “Consolidation”. This statement amends the consolidation guidance applicable to variable interest entities and is effective as of the beginning of the first annual reporting period that begins after November 15, 2009. Upon adoption, the Company does not expect this standard to have a material impact on its financial condition or results of operations. </div> </div>  <!-- Begin Block Tagged Note false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true