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New Accounting Pronouncements
9 Months Ended
Oct. 29, 2011
New Accounting Pronouncements [Abstract] 
New Accounting Pronouncements

Note 2. New Accounting Pronouncements

 

            In September 2011, the Financial Accounting Standards Board ("FASB") issued updated guidance on the periodic testing of goodwill for impairment.  This guidance provides companies the option to assess qualitative factors to determine if it is more likely than not goodwill will be impaired and whether it is necessary to perform the two-step goodwill impairment test required under current accounting standards.  This accounting standard is effective for fiscal years beginning after December 15, 2011, with early adoption permitted.  The Company plans to early adopt this guidance and does not expect its adoption to have a material impact on our financial position and results of operations.

 

            In June 2011, the FASB issued new disclosure guidance related to the presentation of the statement of comprehensive income.  This guidance provides an entity 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 current option to report other comprehensive income and its components in the statement of changes in stockholders' equity was eliminated.  This accounting standard is effective for periods beginning on or after December 15, 2011.  Other than the change in presentation, this accounting standard will not have a material impact on our financial position and results of operations.