Recent Accounting Pronouncements Recent Accounting Pronouncements

3 Months Ended

Apr. 30, 2013

Recent Accounting Pronouncements [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles

(2)Recent Accounting Pronouncements—In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-02, "Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," to improve the reporting of reclassifications out of accumulated other comprehensive income (AOCI), which clarified the reclassification requirements of ASU 2011-05, "Comprehensive Income (Topic 220) Presentation of Comprehensive Income." This new guidance requires entities to present (either on the face of the income statement or in the notes) significant amounts reclassified out of AOCI and their effect on income statement line items. This guidance is effective for interim and annual reporting periods beginning after December 15, 2012. The Company adopted this guidance on February 1, 2013 and has made the required additional disclosures.

In December 2011, the FASB issued ASU 2011-11, “Balance Sheet (Topic 210) Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 requires entities to disclose both gross information and net information about both instruments and transactions subject to a master netting arrangement. ASU 2011-11 is intended to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards. We adopted this new guidance beginning February 1, 2013. Adoption of this new guidance did not have a material impact on our financial statements.