New Accounting Standards Implemented

12 Months Ended

Dec. 31, 2013

Accounting Changes and Error Corrections [Abstract]

New Accounting Standards Implemented

4. New Accounting Standards Implemented

Effective January 1, 2013, the Company adopted a new accounting standard issued by the Financial Accounting Standards Board (FASB), which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income (loss) (AOCI). This standard requires entities to disclose additional information about reclassification adjustments, including: (1) changes in AOCI balances by component and (2) significant items reclassified out of AOCI. The adoption of this standard resulted in additional disclosures of items reclassified out of AOCI and did not impact the Company’s financial position, results of operations or cash flows. See Note 12 for these additional disclosures.