Basis of Presentation of Interim Consolidated Financial Statements (Policies)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New accounting pronouncements

New accounting pronouncements

In February 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2015-02, Consolidation (Topic 810), which amends the current consolidation guidance. The amendments affect both the variable interest entity and voting interest entity consolidation models. The amendments will be effective prospectively for reporting periods beginning on or after December 15, 2015, and early adoption is permitted. The Company is currently assessing the standard update and does not believe there will be a significant impact on the Company's consolidated financial statements.

In January 2015, the FASB issued ASU No. 2015-01, Income Statement — Extraordinary and Unusual Items (Subtopic 225-20), which eliminates the concept of extraordinary items from GAAP. The amendments will be effective for reporting periods beginning on or after December 15, 2015, and early adoption is permitted. Additionally, a reporting entity also may apply the amendments retrospectively for all periods presented in the financial statements. The Company is currently assessing the standard update and does not believe there will be a significant impact on the Company's consolidated financial statements.