New Accounting Standards

12 Months Ended

Dec. 31, 2012

New Accounting Standards [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

New Accounting Standards

In February 2013, the FASB issued new guidance (ASU 2013-02, Comprehensive Income (Topic 220)) to improve the reporting of reclassifications out of accumulated other comprehensive income (loss). ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income (loss) on the respective line items in net income if the amount being reclassified is required under FASB guidance to be reclassified in its entirety to net income in the same reporting period. For other amounts that are not required under FASB guidance to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under FASB guidance that provide additional detail about those amounts.

Substantially all of the information that ASU 2013-02 requires is already required to be disclosed elsewhere in the financial statements under FASB guidance. However, the new requirement about presenting information about amounts reclassified out of accumulated other comprehensive income (loss) and their corresponding effect on net income will present, in one place, information about significant amounts reclassified and, in some cases, cross-references to related footnote dislcosures. Currently, this information is presented in different places thoughout the financial statements. The Company will be required to present the corresponding effects of components reclassified out of accumulated other comprehensive income (loss) on net income with cross-references to other disclosures because FASB guidance does not require that all of the Company's components be reclassified from accumulated other comprehensive income (loss) to net income in their entirety in the same reporting period.

ASU 2013-02 is effective prospectively for reporting periods beginning after December 15, 2012 and early adoption is permitted. The Company will implement ASU 2013-02 in the first quarter of 2013.