RECENT ACCOUNTING PRONOUNCEMENTS
Offsetting Assets and Liabilities: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2013-01, Disclosures about Offsetting Assets and Liabilities. The guidance requires enhanced disclosures about derivatives. Both gross and net information related to eligible transactions is required under the guidance. This guidance is effective for fiscal years and interim periods beginning on or after January 1, 2013, and must be applied retrospectively. We adopted this guidance on January 1, 2013, and applied it retrospectively. The adoption and retrospective application of this guidance did not have any material impact on our financial statements. See Note L -- Derivative Instruments for the enhanced disclosures.
