Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2013

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (FASB) issued ASU 2013-02 relating to disclosures about items reclassified out of accumulated other comprehensive income. The Company’s adoption of the updated guidance effective January 1, 2013 resulted in a change in the disclosures for accumulated other comprehensive income in the Company’s consolidated financial statements but did not have any impact on the Company’s results of operations, financial position or liquidity.

All recently issued but not yet effective accounting and reporting standards are either not applicable to the Company or are not expected to have a material impact on the Company.