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Table of Contents
facts and circumstances involved in each particular agreement. Such indemnification agreements may not be subject to maximum loss clauses.
Off-Balance Sheet Arrangements
At December 31, 2009, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material
effect on our consolidated financial condition, results of operations, liquidity, capital expenditures, or capital resources.
Recent Accounting Pronouncements
Revenue Recognition —In October 2009, the FASB issued Accounting Standards Update ("ASU") No. 2009-13, Revenue Recognition—
Multiple Deliverable Revenue Arrangements,
as codified in Accounting Standards Codification ("ASC") 605. This update addresses the
accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than as a
combined unit. The amendments in this update will be effective prospectively for revenue arrangements entered into or materially modified
beginning January 1, 2011. Early adoption is permitted. We are currently evaluating the impact, if any, of this update on our consolidated
financial statements.
Software —In October 2009, the FASB issued ASU No. 2009-14, Software—Certain Revenue Arrangements That Include Software
Elements
, as codified in ASC 985. The amendments in this update change the accounting model for revenue arrangements that include both
tangible products and software elements. Tangible products containing software components and non-software components that function
together to deliver the tangible product's essential functionality will no longer be within the scope of the software revenue guidance in ASC 985-
605, Software—Revenue Recognition . The amendments in this update will be effective prospectively for revenue arrangements entered into or
materially modified beginning January 1, 2011. Early adoption is permitted. We are currently evaluating the impact, if any, of this update on our
consolidated financial statements.
Fair Value Measurements and Disclosures —In January 2010, the FASB issued ASU No. 2010-06, Fair Value Measurements and
Disclosures
—Improving Disclosures about Fair Value Measurements , as codified in ASC 820. This update provides amendments to ASC 820,
effective January 1, 2010, that will provide more robust disclosures about (i) the different classes of assets and liabilities measured at fair value,
(ii) the valuation techniques and inputs used, (iii) the activity in Level 3 fair value measurements, and (4) the transfers between Levels 1, 2, and
3. We do not expect the amendments to ASC 820 to have a material impact on our consolidated financials statements.
Inflation
Inflation did not have a material impact on our consolidated revenues and results of operations during the years ended December 31, 2009,
2008 and 2007, and we do not currently anticipate that inflation will have a material impact on our consolidated revenues and results of
operations for year ending December 31, 2010.
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