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Recently Issued Accounting Standards
12 Months Ended
Dec. 31, 2012
Recently Issued Accounting Standards [Abstract]  
Description of New Accounting Pronouncements Not yet Adopted [Text Block]
Recently Issued Accounting Standards
In February 2013, the FASB amended the guidance in ASC 220 on comprehensive income. The new guidance will require additional information to be disclosed about the amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified in their entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, cross references to other disclosures will be required. We will be required to adopt this new guidance beginning with our interim financial statements for the three months ended March 31, 2013.
In July 2012, the FASB amended the guidance in ASC 350-30 on testing indefinite-lived intangible assets, other than goodwill, for impairment. Under the revised guidance, an entity testing an indefinite-lived intangible asset for impairment has the option of performing a qualitative assessment before performing quantitative tests. If the entity determines, on the basis of qualitative factors, that the fair value of the indefinite-lived intangible asset is not more likely than not impaired, the entity would not need to perform the quantitative tests. We adopted this guidance for the year ended December 31, 2012. The adoption of this guidance did not have a material impact on the Company's financial statements.
In September 2011, the FASB amended the guidance in ASC 350-20 on testing goodwill for impairment. Under the revised guidance, entities testing goodwill for impairment have the option of performing a qualitative assessment before calculating the fair value of the reporting unit. If entities determine, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. The Company adopted this guidance beginning with its interim financial statements for the three months ended March 31, 2012. The adoption of this accounting standard did not have a material impact on the Company's financial statements.
In June 2011, the FASB issued new guidance under ASC 220 regarding the presentation of comprehensive income in financial statements. An entity has the option to present the components of net income and other comprehensive income (loss) either in a single continuous statement or in two separate but consecutive statements. In March 2012, we adopted this accounting standard by presenting a separate statement of other comprehensive income (loss) in our financial statements.