New Accounting Pronouncements

6 Months Ended

Jun. 25, 2011

New Accounting Pronouncements

New Accounting Pronouncements

11. New Accounting Pronouncements

In December 2010, the Financial Accounting Standards Board issued new guidance addressing goodwill impairment testing. This guidance modifies Step 1 of the goodwill impairment test under current guidance for reporting units with zero or negative carrying amounts to require an entity to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. The guidance allows an entity to use either the equity or enterprise valuation premise to determine the carrying amount of the reporting unit. We adopted the new guidance on December 26, 2010, and there was no impact on our consolidated results of operations and financial position.