2.2.0.25falsefalse1030 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Policies)truefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) / shares USD ($) $eol_PE727-----1010-K0008_STD_365_20101231_0http://www.sec.gov/CIK0000060751duration2010-01-01T00:00:002010-12-31T00:00:00iso4217_USD_per_sharesDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instanceshares0iso4217_USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170YearStandardhttp://www.lubrizol.com/20101231Yearlz0pureStandardhttp://www.xbrl.org/2003/instancepure0sharesStandardhttp://www.xbrl.org/2003/instanceshares0MonthStandardhttp://www.lubrizol.com/20101231Monthlz0USDUSD$5false0us-gaap_ConsolidationPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Consolidation</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The consolidated financial statements include the accounts of the company and all its majority-owned subsidiaries and joint ventures where the company has effective management control. All intercompany transactions and balances among subsidiaries are eliminated in consolidation. The equity method of accounting is applied to non-consolidated entities in which the company can exercise significant influence over the entity with respect to its operations and major decisions. The book value of investments carried on the equity method and cost method were immaterial at December 31, 2010 and 2009.</font></div>Consolidation – The consolidated financial statements include the accounts of the company and all its majority-owned subsidiaries and joint venturesfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 4 -Subparagraph c Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph k -Article 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 5, 6, 16-19 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02, 03 -Article 3A Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 2-6 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 46 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a(2) Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 4 -Subparagraph d Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 97-2 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 96-16 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 14, 15 falsefalseConsolidation, Policy6false0lz_UseOfEstimatesPolicyTextBlocklzfalsenadurationUse Of Estimates Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Use of Estimates</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div>Use of Estimates – The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP)falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringUse Of Estimates Policy [Text Block]No authoritative reference available.falsefalseUse Of Estimates Policy7false0us-gaap_CashAndCashEquivalentsPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Cash Equivalents</b></font><font style="FONT-FAMILY: ARIAL" size="1">– The company invests its excess cash in short-term investments with various banks and financial institutions. Cash equivalents are comprised of investments having maturities of three months or less when purchased.</font></div>Cash Equivalents– The company invests its excess cash in short-term investments with various banks and financial institutions. Cash equivalents arefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringA description of a company's cash and cash equivalents accounting policy. An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. For a bank, may include explanation and amount of requirement to maintain reserves against deposits.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Financial Reporting Release (FRR) -Number 203 -Paragraph 02-03 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7, 8, 9, 10 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Technical Practice Aid (TPA) -Number 2110 -Paragraph 6 falsefalseCash and Cash Equivalents, Policy8false0us-gaap_ReceivablesPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Receivables –</b></font> <font style="FONT-FAMILY: ARIAL" size="1">Receivables are net of allowance for doubtful accounts of $4.3 million and $5.4 million at December 31, 2010 and 2009, respectively. The allowance for doubtful accounts is based on review of the overall condition of accounts receivable balances and review of significant past due accounts. Account balances are charged off against the allowance for doubtful accounts after collection efforts have been exhausted and the potential for recovery is considered remote.</font></div>Receivables – Receivables are net of allowance for doubtful accounts of $4.3 million and $5.4 million at December 31, 2010 and 2009, respectively.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3-5 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 114 -Paragraph 20 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 92-5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 falsefalseReceivables, Policy9false0us-gaap_InventoryPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Inventories</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Inventories are stated at the lower of cost or market value. Cost of inventories is determined by either the first-in, first-out (FIFO) method or the moving-average method, except in the United States for chemical inventories, which are valued using the last-in, first-out (LIFO) method. Abnormal amounts of idle facility expense, freight, handling costs and wasted material are recognized as an expense in the period incurred.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">The company accrues volume discounts on purchases from vendors where it is probable, based on projected purchases over the purchase agreement period, the required volume will be attained and the amount can be reasonably estimated. The company records the discount as a reduction in the cost of the purchased materials.</font></p> </div>Inventories – Inventories are stated at the lower of cost or market value. Cost of inventories is determined by either the first-in, first-out (FIFO)falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Financial Reporting Release (FRR) -Number 206 -Chapter 2 -Paragraph b -Subparagraph i, ii Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 4 -Paragraph 3, 5-10, 15, 16, 17 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 3 -Section A -Paragraph 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 81-1 -Paragraph 69-75 falsefalseInventory, Policy10false0us-gaap_PropertyPlantAndEquipmentPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Property and Equipment</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Property and equipment are carried at cost. Repair and maintenance costs are charged against income while renewals and betterments are capitalized as additions to the related assets. Costs incurred for computer software developed or obtained for internal use are capitalized for application development activities and expensed immediately for preliminary project activities or post-implementation activities. Accelerated depreciation methods are used in computing depreciation on certain machinery and equipment for approximately 1% and 3% of the depreciable assets at December 31, 2010 and 2009, respectively. The remaining assets are depreciated using the straight-line method. The estimated useful lives range from 10 to 40 years for buildings and building and land improvements, 5 to 20 years for machinery and equipment and 5 to 7 years for software.</font></div>Property and Equipment – Property and equipment are carried at cost. Repair and maintenance costs are charged against income while renewals andfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 9 -Section C -Paragraph 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 12, 13 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 34 -Paragraph 8, 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph a -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -Subparagraph d falsefalseProperty, Plant and Equipment, Policy11false0us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Impairment or Disposal of Long-Lived Assets</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company reviews the carrying value of its long-lived assets, including property and equipment, whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. In order to determine if assets have been impaired, assets are grouped and tested at the lowest level for which identifiable, independent cash flows are available. An impairment loss exists when estimated undiscounted future cash flows expected to result from the use of the assets, including disposition, are less than the carrying value of the assets. The measurement of the impairment loss to be recognized is based on the difference between the fair value and the carrying amounts of the assets. Fair value generally is determined by discounting the expected future cash flows attributable to the asset groups over their remaining useful lives.</font></div>Impairment or Disposal of Long-Lived Assets – The company reviews the carrying value of its long-lived assets, including property and equipment,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section CC -Subsection 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 7-15, 26, 30-37 falsefalseImpairment or Disposal of Long-Lived Assets, Policy12false0us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Goodwill and Intangible Assets</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Goodwill is tested for impairment annually and between annual tests if an event occurs or circumstances change that indicate the carrying amount may be impaired. The company has elected to perform its annual tests for potential impairment of goodwill as of October 1 of each year. Impairment testing is performed at the reporting unit level. An impairment loss generally would be recognized when the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit’s net assets. The estimated fair value of a reporting unit is determined through a discounted cash flow analysis. Refer to Note 7 for a discussion of the goodwill impairment charge recognized during 2008.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">The major components of the company’s identifiable intangible assets are customer lists, technology, trademarks and patents. Finite-lived intangible assets are amortized using the straight-line method over their useful lives that range between 3 and 20 years. The company’s indefinite-lived intangible assets include certain trademarks that are tested for impairment each year as of October 1 or more frequently if impairment indicators arise.</font></p> </div>Goodwill and Intangible Assets – Goodwill is tested for impairment annually and between annual tests if an event occurs or circumstances changefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 7-18, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 4, 11-23, 26, 34 falsefalseGoodwill and Intangible Assets, Policy13false0us-gaap_DeferredChargesPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Deferred Financing Costs</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Costs incurred with the issuance of debt and credit facilities are capitalized and amortized over the life of the associated debt as a component of interest expense using the effective interest method of amortization. Net deferred financing costs were $14.7 million and $14.2 million at December 31, 2010 and 2009, respectively. Amortization expense from deferred financing costs was $2.2 million, $3.3 million and $2.8 million during 2010, 2009 and 2008, respectively.</font></div>Deferred Financing Costs – Costs incurred with the issuance of debt and credit facilities are capitalized and amortized over the life of the associatedfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes the policy for deferral and amortization of a significant deferred charge.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 17 -Article 5 falsefalseDeferred Financing Costs14false0lz_GuaranteeObligationsPolicyTextBlocklzfalsenadurationDescribes policy to account for guarantees that are issued to unrelated entities.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Guarantees</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company recognizes a liability for the fair value of any guarantees entered into or modified. The company did not have any material guarantees at December 31, 2010 or 2009.</font></div>Guarantees – The company recognizes a liability for the fair value of any guarantees entered into or modified. The company did not have any materialfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes policy to account for guarantees that are issued to unrelated entities.No authoritative reference available.falsefalseGuarantees15false0us-gaap_AssetRetirementObligationsAndEnvironmentalCostPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Environmental Liabilities</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company accrues for expenses associated with environmental remediation obligations when such expenses are probable and reasonably estimable, based upon current law and existing technologies. These accruals are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted to their present value.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Asset Retirement Obligations</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company recognizes the fair value of a liability for an asset retirement obligation (ARO) at the time it is identified and when a reasonable estimate of fair value can be made. The company has recognized liabilities for AROs related to asbestos remediation activities and lease imposed obligations. In addition, the company has identified additional AROs for asbestos remediation activities that may be required in the future. However, due to the long-term, productive nature of the company’s manufacturing operations, absent plans or expectation of plans to initiate asset retirement activities, the company is unable to reasonably estimate the fair value of such asbestos remediation liabilities since the potential settlement dates cannot be determined at this time.</font></p> </div>Environmental Liabilities – The company accrues for expenses associated with environmental remediation obligations when such expenses are probable andfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for (1) legal obligations associated with the disposal or removal of a long-lived asset from service that result from the acquisition, construction, or development or from the normal operation of a long-lived asset (except obligations of a lessee in connection with leased property that are minimum lease payments or contingent rentals, or obligations that arise solely from a plan to sell or otherwise dispose of a long-lived asset); and (2) certain environmental remediation liabilities that resulted from the improper or other-than-normal operation of a long-lived asset. This accounting policy may address (1) whether the related remediation costs are expensed or capitalized, (2) whether the obligation is measured on a discounted basis, (3) the event, situation, or set of circumstances that generally triggers recognition of loss contingencies arising from the entity's environmental remediation-related obligations, and (4) the timing of recognition of any recoveries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 47 -Paragraph 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 143 -Paragraph 2-3, 11-15, 22, A13 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 96-1 -Paragraph 99, 100, 101, 147, 148, 149, 150, 152, 153, 154 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 89-13 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 90-8 falsefalseAsset Retirement Obligations and Environmental Cost, Policy16false0us-gaap_DerivativesPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Accounting For Derivative Instruments</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Derivative financial instruments are recognized on the balance sheet as either assets or liabilities and are measured at fair value. For derivative instruments that are not designated as hedges, the gain or loss on the derivative is recognized in current earnings. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gains or losses on the derivatives, along with any gains and losses upon termination of the derivatives, are reported as a component within accumulated other comprehensive loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on derivatives representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.</font></div>Accounting For Derivative Instruments – Derivative financial instruments are recognized on the balance sheet as either assets or liabilities and arefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph n -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 39 -Paragraph 10 falsefalseDerivatives, Policy17false0lz_RedeemableStockBasedAwardsPolicyTextBlocklzfalsenadurationRedeemable Stock Based Awards, Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><b><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1">Redeemable Stock-Based Awards</font></b> <font style="FONT-FAMILY: ARIAL" size="1">– Redeemable stock-based awards provide the employee the right to require the company to settle the underlying shares in cash, but only after the employee has borne the risks and rewards of owning the vested shares for a period of at least six months. Redeemable stock-based awards are measured at fair value, considering the proportion of services rendered by the employee under the terms of the award. Compensation cost associated with these awards is based on their grant-date fair value and recognized on a straight-line basis over the requisite service period of the entire award.</font></div>Redeemable Stock-Based Awards – Redeemable stock-based awards provide the employee the right to require the company to settle the underlying shares infalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRedeemable Stock Based Awards, Policy [Text Block]No authoritative reference available.falsefalseRedeemable Stock Based Awards, Policy18false0lz_TreasurySharesPolicyTextBlocklzfalsenadurationTreasury Shares Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Share Repurchases</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company uses the par-value method of accounting for its treasury shares. Under this method, the cost to reacquire shares in excess of the weighted-average proceeds received upon original issuance of the shares is charged against retained earnings.</font></div>Share Repurchases – The company uses the par-value method of accounting for its treasury shares. Under this method, the cost to reacquire shares infalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringTreasury Shares Policy [Text Block]No authoritative reference available.falsefalseTreasury Shares Policy19false0us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Foreign Currency Translation</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The assets and liabilities of the company’s international subsidiaries whose functional currency is their local currency are translated into U.S. dollars at exchange rates in effect at the balance sheet date, while revenues and expenses are translated at weighted-average exchange rates in effect during the period. Unrealized translation adjustments are recorded as a component of accumulated other comprehensive loss. For subsidiaries whose functional currency is other than their local currency, adjustments to remeasure transactions denominated in the local currency to the functional currency are recognized in income. Gains or losses that arise from exchange rate changes on transactions denominated in a currency other than the functional currency, except those transactions that function as a hedge of an identifiable foreign currency commitment or as a hedge of a foreign currency investment, are included in income as incurred.</font></div>Foreign Currency Translation – The assets and liabilities of the company’s international subsidiaries whose functional currency is their localfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 52 -Paragraph 5, 7-20, 80 falsefalseForeign Currency Transactions and Translations Policy20false0us-gaap_RevenueRecognitionPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1"><b><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1">Revenue Recognition</font></b> <font style="FONT-FAMILY: ARIAL" size="1">– Revenues are recognized when persuasive evidence of an arrangement exists, the selling price is fixed or determinable, collection is reasonably assured and title and risk of loss has passed to the customer, which generally occurs at the time of shipment of products. All amounts in a sales transaction billed to a customer related to shipping and handling are reported as revenues. The company collects sales, use and value added taxes that are imposed by governmental authorities on and concurrent with sales to the company’s customers. Revenues are presented net of these taxes as the obligation is included in accrued expenses and other current liabilities until the taxes are remitted to the appropriate taxing authorities.</font></font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Provisions for rebates, discounts, claims, returns and allowances to customers are recorded as a deduction to revenue in the same period the related sales are recorded. Rebate programs provide that upon the attainment of pre-established volume or revenue milestones for a specified period, the customer receives credits against purchases. The company estimates the provision for rebates based on the specific terms in each agreement at the time of shipment and an estimate of the customer’s achievement of the respective milestones. The company accrues sales discounts, claims, returns and allowances based upon historical experience.</font></p> </div>Revenue Recognition – Revenues are recognized when persuasive evidence of an arrangement exists, the selling price is fixed or determinable, collectionfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section B -Paragraph Question 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8, 12, 13 falsefalseRevenue Recognition, Policy21false0us-gaap_CostOfSalesPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Components of Cost of Sales</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Cost of sales is comprised of raw material costs including freight and duty, inbound handling costs associated with the receipt of raw materials, direct production, maintenance, utility costs, depreciation, plant and engineering overhead, terminals and warehousing costs and outbound shipping and handling costs.</font></div>Components of Cost of Sales – Cost of sales is comprised of raw material costs including freight and duty, inbound handling costs associated with thefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. Description may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This description also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 2 -Article 5 falsefalseCost of Sales, Policy22false0lz_ResearchAndDevelopmentCostPolicyTextBlocklzfalsenadurationResearch And Development Cost, Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><b><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1">Research, Testing and Development</font></b> <font style="FONT-FAMILY: ARIAL" size="1">– Research, testing and development costs are expensed as incurred. Research and development costs, excluding testing, were $155.3 million, $147.7 million and $149.6 million during 2010, 2009 and 2008, respectively. Costs to acquire in-process research and development (IPR&D) projects that have no alternative future use and that have not yet reached technological feasibility at the date of acquisition have been expensed for acquisitions completed prior to January 1, 2009.</font></div>Research, Testing and Development – Research, testing and development costs are expensed as incurred. Research and development costs, excluding testing,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringResearch And Development Cost, Policy [Text Block]No authoritative reference available.falsefalseResearch And Development Cost, Policy23false0lz_ShareBasedCompensationPolicyTextBlocklzfalsenadurationShare based Compensation, Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Stock-Based Compensation</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– For stock-based awards granted to employees classified as equity, compensation expense is based on the grant-date fair value of the award. For stock-based awards classified as a liability, compensation expense is based on the fair value of the award at each reporting date. The company recognizes these compensation costs, net of a forfeiture rate, on a straight-line basis over the requisite service period of the entire award, such that compensation cost recognized is at least equal to the cost attributable to awards that are vested. The company estimates the forfeiture rate based on its historical experience during the preceding 10 years.</font></div>Stock-Based Compensation – For stock-based awards granted to employees classified as equity, compensation expense is based on the grant-date fair valuefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringShare based Compensation, Policy [Text Block]No authoritative reference available.falsefalseShare based Compensation, Policy24false0us-gaap_CostsAssociatedWithExitOrDisposalActivitiesOrRestructuringsPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Costs Associated with Exit or Disposal Activities</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Liabilities for costs associated with exit or disposal activities are recognized and measured initially at fair value when the liability is incurred.</font></div>Costs Associated with Exit or Disposal Activities – Liabilities for costs associated with exit or disposal activities are recognized and measuredfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes the entity's accounting policy for recognizing and reporting costs associated with exiting, disposing of, and restructuring certain of its operations.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 falsefalseCosts Associated with Exit or Disposal Activities or Restructurings, Policy25false0us-gaap_IncomeTaxPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Income Taxes</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– The company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement carrying amounts and the tax bases of the assets and liabilities. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">The economic benefit associated with a tax position taken or expected to be taken in a tax return will be recognized only if it is more likely than not that a tax position will be ultimately sustained. After this threshold is met, a tax position is reported at the largest amount of benefit that is more likely than not to be ultimately sustained. The company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.</font></p> </div>Income Taxes – The company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between thefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 4 -Paragraph 11 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 48 -Paragraph 20 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 6-34, 43, 47, 49 falsefalseIncome Tax, Policy26false0us-gaap_EarningsPerSharePolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Net Income (Loss) per Share Attributable to The Lubrizol Corporation</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Net income (loss) per share attributable to The Lubrizol Corporation is computed by dividing net income (loss) attributable to The Lubrizol Corporation by the weighted-average common shares of The Lubrizol Corporation outstanding during the period, including contingently issuable shares. Net income (loss) per diluted share attributable to The Lubrizol Corporation includes the dilutive impact resulting from outstanding stock options and awards. No dilutive impact is reflected in periods when a net loss is reported.</font></div>Net Income (Loss) per Share Attributable to The Lubrizol Corporation – Net income (loss) per share attributable to The Lubrizol Corporation is computedfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDiscloses the methodology and assumptions used to compute basic and diluted earnings (loss) per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 6, 8-16, 60 falsefalseEarnings Per Share, Policy27false0lz_ReclassificationsPolicyTextBlocklzfalsenadurationReclassifications Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>Reclassifications</b></font> <font style="FONT-FAMILY: ARIAL" size="1">– Certain prior year amounts have been reclassified to conform to the current year presentation.</font></div>Reclassifications – Certain prior year amounts have been reclassified to conform to the current year presentation.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringReclassifications Policy [Text Block]No authoritative reference available.falsefalseReclassifications Policy28false0lz_NewAccountingPronouncementsPolicyTextBlocklzfalsenadurationFor a new accounting pronouncement that has been issued, disclose: (1) the nature of and reason for the change, including an...falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <p style="MARGIN-TOP: 4px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b>New Accounting Standards</b></font></p> <p style="MARGIN-TOP: 4px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b><i>Accounting Standards Adopted in 2010</i></b></font></p> <p style="MARGIN-TOP: 4px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">In January 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2010-6, “Improving Disclosures about Fair Value Measurements.” This update requires additional disclosure within the roll forward of activity for assets and liabilities measured at fair value on a recurring basis, including transfers of assets and liabilities between Level 1 and Level 2 of the fair value hierarchy and the separate presentation of purchases, sales, issuances and settlements of assets and liabilities within Level 3 of the fair value hierarchy. In addition, the update requires enhanced disclosures of the valuation techniques and inputs used in the fair value measurements within Levels 2 and 3. The new disclosure requirements are effective for interim and annual periods beginning after December 15, 2009, except for the disclosure of purchases, sales, issuances and settlements of Level 3 measurements, which are effective for fiscal years beginning after December 15, 2010. The company adopted the required provisions of ASU 2010-6 on January 1, 2010. Refer to Note 12 for further discussion. The company does not expect the adoption of the remaining provisions of this update to have a material effect on its consolidated financial statements.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">In December 2009, the FASB issued ASU 2009-17, “Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities.” This update eliminates the exception to consolidating qualifying special-purpose entities, contains new criteria for determining the primary beneficiary and increases the frequency of required reassessments to determine whether a company is the primary beneficiary of a variable interest entity. This update also contains a new requirement that any term, transaction or arrangement that does not have a substantive effect on an entity’s status as a variable interest entity, a company’s power over a variable interest entity or a company’s obligation to absorb losses or its right to receive benefits of an entity must be disregarded in determining whether a company is the primary beneficiary of a variable interest entity. The adoption of this update on January 1, 2010, did not have an effect on the company’s consolidated financial statements.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">In December 2009, the FASB issued ASU 2009-16, “Accounting for Transfers of Financial Assets.” This update eliminates the concept of a qualifying special-purpose entity, creates more stringent conditions for reporting a transfer of a portion of a financial asset as a sale, clarifies other sale-accounting criteria and changes the initial measurement of a transferor’s interest in transferred financial assets. The adoption of this update on January 1, 2010, did not have an effect on the company’s consolidated financial statements.</font></p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px">  </p> <p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"><b><i>Accounting Standards Not Yet Adopted</i></b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">In October 2009, the FASB issued ASU 2009-13, “Multiple-Deliverable Revenue Arrangements, a Consensus of the FASB Emerging Issues Task Force.” ASU 2009-13 allows companies to allocate consideration in multiple deliverable arrangements based on the company’s best estimate of selling price when vendor specific objective evidence or vendor objective evidence of the fair value of deliverables is not available. In addition, the residual method of allocating consideration to delivered items is no longer permitted. This update is effective for fiscal years beginning on or after June 15, 2010, with early application permitted. The company is evaluating the impact of this update on its consolidated financial statements.</font></p> </div>New Accounting Standards Accounting Standards Adopted in 2010 In January 2010, the Financial Accounting Standards Board (FASB) issued AccountingfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringFor a new accounting pronouncement that has been issued, disclose: (1) the nature of and reason for the change, including an explanation of why the newly adopted accounting principle is preferable; (2) the method of applying the change. For a new accounting pronouncement that has been issued but not yet adopted, disclose: (1) description of the new pronouncement, the date that adoption is required and the date that the entity plans to adopt, if earlier; (2) discuss the methods of adoption allowed by the pronouncement and the method expected to be utilized by the entity, if determined; (3) discuss the impact that adoption of the pronouncement is expected to have on the financial statements of the entity, unless such impact is not known or reasonably estimable (in which case, a statement to that effect should be made) and; (4) disclose the potential impact of other significant matters that the entity believes might result from the adoption of the pronouncement (for example, technical violations of debt covenant agreements and planned or intended changes in business practices.)No authoritative reference available.falsefalseNew Accounting Pronouncements Policy124SIGNIFICANT ACCOUNTING POLICIES (Policies)UnKnownUnKnownUnKnownUnKnownfalsetrue