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New Accounting Standards Not Yet Adopted
6 Months Ended
Jun. 30, 2011
New Accounting Standards Not Yet Adopted [Abstract]  
New Accounting Standards Not Yet Adopted
Note 2. New Accounting Standards Not Yet Adopted
In May 2011, accounting guidance was issued that will be included in Accounting Standards Codification (ASC) Topic 820, “Fair Value Measurement”. This guidance amends the requirements for measuring fair value and disclosing information about fair value measurements and is effective for the Company on January 1, 2012. Upon adoption, the Company does not expect this standard to have a material impact on its financial condition or results of operations.
In June 2011, accounting guidance was issued that will be included in ASC Topic 220, “Comprehensive Income”. This guidance eliminates the option to report other comprehensive income and its components in the statement of changes in equity. Companies can elect to present items of net income and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. The Company is currently evaluating which method it will utilize to present items of net income and other comprehensive income. This presentation guidance is effective for the Company on January 1, 2012.