In December 2010, the FASB issued an accounting update to require that supplemental pro forma information disclosures  pertaining to acquisitions should be presented as if the business combination(s) occurred as of the beginning of the prior  annual period when comparative financial statements are presented. This guidance also expands the supplemental pro  forma disclosures to include a description of the nature and amount of material, nonrecurring pro forma adjustments  directly attributable to the business combination included in the reported pro forma revenue and earnings. This guidance  is effective for business combinations consummated in periods beginning after December 15, 2010. Early adoption is  permitted. The Company will make the required disclosures prospectively as of the date of the adoption for any material  business combinations or series of immaterial business combinations that are material in the aggregate. The adoption of  the accounting standard did not have a material effect on the Company’s consolidated financial statements. In December 2010, the FASB issued an accounting update to modify Step 1 of the goodwill impairment test for reporting  units with zero or negative carrying amounts. For those reporting units, an entity is required to perform Step 2 of the  goodwill impairment test if it is more likely than not that a goodwill impairment exists. In determining whether it is more  likely than not that a goodwill impairment exists, an entity should consider whether there are any adverse qualitative factors  indicating that an impairment may exist. For public entities, this guidance is effective for impairment tests performed  during entities’ fiscal years that begin after December 15, 2010. Early application will not be permitted. The adoption of  the accounting standard did not have a material effect on the Company’s consolidated financial statements. In May 2011, the FASB issued an accounting update to amend the fair value measurement guidance and include some  enhanced disclosure requirements. The most significant change in disclosures is an expansion of the information  required for Level 3 measurements based on unobservable inputs. The standard is effective for fiscal years beginning  after December 15, 2011. Early adoption is not permitted. Since this standard impacts disclosure requirements only, its  adoption is not expected to have a material impact on the Company’s results of operations, financial condition or cash  flows. In June and December 2011, the FASB issued accounting updates to eliminate the current option to report other  comprehensive income and its components in the statement of stockholders’ equity. Instead, an entity will be required  to present items of net income and other comprehensive income in one continuous statement or in two separate, but  consecutive, statements. The new requirements do not change which components of comprehensive income are recognized  in net income or other comprehensive income, or when an item of other comprehensive income must be reclassified to net  income. This guidance must be applied retroactively and is effective for fiscal years beginning after December 15, 2011. Earlier application is permitted. Based on the Company’s analysis, the Company currently does not anticipate that the new  guidance will have a material effect on the Company’s consolidated financial statements. In September 2011, the FASB issued an accounting update, which is intended to reduce the cost and complexity of the  annual goodwill impairment test by providing entities an option to perform a “qualitative” assessment to determine whether  further impairment testing is necessary. Specifically, an entity has the option to first assess qualitative factors to determine  whether it is necessary to perform the current two-step test. If an entity believes, as a result of its qualitative assessment,  that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative  impairment test is required. Otherwise, no further testing is required. This standard is effective for annual and interim  goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Earlier adoption is permitted.  The Company is currently evaluating the impact on the adoption of the update. PART III F-73