Recently Issued or Adopted Accounting Pronouncements

9 Months Ended

Sep. 30, 2013

Recently Issued or Adopted Accounting Pronouncements

Recently Issued or Adopted Accounting Pronouncements

Recently Issued or Adopted Accounting Pronouncements.    In July 2013, the Financial Accounting Standards Board (FASB) issued "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exist." The update provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The adoption of this standard is effective for us January 1, 2014 and is not expected to have a material effect on our consolidated financial statements.

• In December 2011, FASB issued "Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities," which modifies the disclosure requirements for offsetting financial instruments and derivative instruments. The update requires an entity to disclose information about offsetting and related arrangements and the effect of those arrangements on its financial position. The adoption of this standard was effective for us January 1, 2013 and did not have a material impact on our consolidated financial statements.

  In February 2013, the FASB issued "Comprehensive Income (Topic 220): Reporting Amounts Reclassified out of Accumulated Other Comprehensive Income," which amended certain provisions of ASC 220 "Comprehensive Income." The update requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective items on the income statement for reclassified amounts that are required by U.S. GAAP to be reclassified entirely to net income. The update also requires additional footnote disclosures for reclassified amounts that are not required by U.S. GAAP to be reclassified entirely to net income. The adoption of this standard did not have a material impact on our consolidated financial statements.