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Recent Accounting Developments
12 Months Ended
Dec. 31, 2011
Recent Accounting Developments [Abstract]  
Recent Accounting Developments
Note 3.  Recent Accounting Developments

Accounting standard setting organizations have been very active in recent years.  Recently, they issued new and revised accounting guidance on a number of topics, including fair value measurements, presentation of comprehensive income, testing goodwill for impairment and balance sheet offsetting.  We do not believe that adoption of this new guidance will have a material impact on our future Consolidated Financial Statements.  The following paragraphs summarize these recent accounting developments:

Fair Value Measurements.  In May 2011, the Financial Accounting Standards Board (or “FASB”) issued an accounting standard update that amended previous fair value measurement and disclosure guidance.  These amendments generally involve clarifications on how to measure and disclose fair value amounts recognized in the financial statements.  They also expand the disclosure requirements, particularly for Level 3 fair value measurements, to include a description of the valuation processes used and an analysis of the sensitivity of the fair value measurements to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any.  We adopted this guidance on January 1, 2012 and applied its requirements prospectively at that time.

 Presentation of Comprehensive Income.  In June 2011, the FASB issued an accounting standard update that revised the financial statement presentation of comprehensive income.  The amended guidance requires entities to present components of comprehensive income in either (i) a single continuous statement of comprehensive income or (ii) two separate but consecutive statements (i.e., a statement of income and a statement of comprehensive income, which is our current format).  Although the amended guidance does not change the items that must be reported in other comprehensive income, reclassification adjustments for each component of other comprehensive income would be displayed separately on the statement of income and in other comprehensive income.  In December 2011, the FASB issued an accounting standard update to defer the requirement related to the separate presentation of reclassification adjustments.

Testing for Goodwill Impairment.  In September 2011, the FASB issued an accounting standard update that provides entities with an option to perform a qualitative assessment to determine whether further impairment testing is necessary.  We adopted this guidance on January 1, 2012.

Balance Sheet Offsetting.  In December 2011, the FASB issued an accounting standard update enhancing the disclosure of financial instruments and derivative instruments that have been offset on the balance sheet or are subject to a master netting arrangement or similar agreement, regardless of whether they offset on the balance sheet.  We will adopt this guidance on January 1, 2013 and apply its requirements retrospectively at that time.