Note 10 - New Accounting Pronouncement

3 Months Ended

Mar. 31, 2012

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

10.   New Accounting Pronouncement

In 2011, the FASB issued Accounting Standards Update 2011-05, Presentation of Comprehensive Income (the “ASU”), which amended guidance for the presentation of comprehensive income.  The amended guidance requires an entity to present components of net income and other comprehensive income in one continuous statement, referred to as the statement of comprehensive income, or in two separate, but consecutive statements.  The current option to report other comprehensive income and its components in the statement of stockholders’ equity has been eliminated.  Although the new guidance changes the presentation of comprehensive income, there are no changes to the components that are recognized in net income or other comprehensive income under existing guidance.  The ASU became effective for us in the first quarter of 2012 and retrospective application is required.  The ASU changed our financial statement presentation of comprehensive income but did not impact our net income, financial position, or cash flows.