Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2011

Recent Accounting Pronouncements

Recent Accounting Pronouncements

3. Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board ("FASB") issued revised disclosure guidance for employers that participate in multiemployer plans. The amended guidance requires that employers provide additional quantitative and qualitative disclosures for multiemployer plans. The amended guidance is effective for annual periods ending after December 15, 2011. The adoption of the amended guidance in future periods will not materially impact the Company's results of operations, financial position or cash flows.

In June 2011, the FASB issued revised accounting guidance for the presentation of comprehensive income. Under the amendments in this update, an entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The amended guidance eliminates the option to present the components of other comprehensive income as a part of the statement of changes in stockholders' equity. The amended guidance is effective for fiscal years beginning after December 15, 2011, and it must be applied retrospectively. The adoption of the amended guidance in future periods will not materially impact the Company's results of operations, financial position or cash flows.