Generations 65 We are in the process of calculating the effect of these amendments to IAS 19 on our comparative consolidated  financial statements for all periods in 2012. We do not expect the amendments in IAS 19 to significantly change our  2012 comparative consolidated financial statements. We will apply the amendments to IAS 19 starting on January 1, 2013 with retrospective application and have substantially  completed our analysis of the amendments. We expect changes to our consolidated financial statements as a result of  the requirement to recognize unvested past service cost awards into profit immediately. We also expect an increase in our  finance expense (income) for underfunded plans as a result of the application of one discount rate. In June 2011, the IASB issued an amended version of IAS 19, Employee Benefits (IAS 19). For defined benefit plans,  the amendments eliminate the option to defer actuarial gains and losses on the balance sheet through the “corridor  method”. The amendments also require any remeasurement gains or losses, including actuarial gains and losses, to  be recognized immediately and presented in other comprehensive income, eliminating the option to recognize and  present these through the income statement. The amendments to IAS 19 require one discount rate to be applied to  the net asset or liability for the purposes of determining the interest element of the pension cost and require the  recognition of unvested past service cost awards into profit immediately. There is also a requirement to change the  presentation of finance income and finance expense as a net finance expense (income) amount in the consolidated  financial statements. Additional disclosures will also be required to present better information about the characteristics,  amounts recognized and risks related to defined benefit plans. Post-Employment Benefits Other Comprehensive Income In June 2011, the IASB and the Financial Accounting Standards Board (FASB) issued amendments to standards  to align the presentation requirements for other comprehensive income. The IASB issued amendments to IAS 1,  Presentation of Financial Statements (IAS 1) to require companies preparing financial statements under IFRS to group  items within other comprehensive income that may be reclassified to profit or loss. We will apply this amendment to  IAS 1 in our consolidated financial statements beginning in 2013. We will present these changes in our consolidated  statement of comprehensive income in our consolidated financial statements in the first quarter of 2013. We will apply IFRS 13 prospectively beginning on January 1, 2013. The disclosure requirements of IFRS 13 do not  need to be applied in comparative periods before initial application. We have substantially completed our analysis of  IFRS 13 and do not expect the adoption to result in significant changes to our consolidated financial statements.  IFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an  orderly transaction between market participants at the measurement date. Fair value is a market-based measurement,  not an entity-specific measurement, so assumptions that market participants would use should be applied in  measuring fair value. In May 2011, the IASB issued IFRS 13, Fair Value Measurement (IFRS 13). This standard defines fair value, sets out a  single IFRS framework for measuring fair value and outlines disclosure requirements about fair value measurements. Fair Value Measurement Disclosures of Interests in Other Entities In May 2011, the IASB issued IFRS 12, Disclosures of Interests in Other Entities (IFRS 12), which outlines the disclosure  requirements for interests in subsidiaries and other entities to enable users to evaluate the risks associated with  interests in other entities and the effects of those interests on an entity’s financial position, financial performance  and cash flows. We will apply IFRS 12 beginning on January 1, 2013. We have substantially completed our analysis of IFRS 12 and expect  to include additional disclosures about interests in other entities in our annual consolidated financial statements for the  year ended December 31, 2013.