IHOP 2010 Annual Report Download - page 108

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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
2. Basis of Presentation and Summary of Significant Accounting Policies (Continued)
statements for the period ended March 31, 2010. The adoption of these provisions of this ASU only
affected the disclosure requirements for fair value measurements and as a result had no impact on the
Company’s balance sheets, statements of operations or statements of cash flows.
In February 2010, the FASB issued ASU 2010-09, ‘‘Subsequent Events: Amendments to Certain
Recognition and Disclosure Requirements.’’ This ASU retracts the existing requirement to disclose the
date through which subsequent events have been evaluated and whether that date is the date the
financial statements were issued or were available to be issued. The guidance was effective immediately
upon issuance and adoption had no impact on the Company’s financial statements.
New Accounting Pronouncements
ASU 2010-06 also requires that disclosures about purchase, sale, issuance, and settlement activity
related to assets and liabilities whose fair value is measured using Level 3 inputs be presented on a
gross basis rather than as a net number as currently permitted. This provision of this ASU will be
effective for the Company’s reporting period ending March 31, 2011. As this provision amends only the
disclosure requirements for fair value measurements, the adoption will have no impact on the
Company’s balance sheets, statements of operations or statements of cash flows.
In July 2010, the FASB issued ASU 2010-20, ‘‘Disclosures about the Credit Quality of Financing
Receivables and the Allowance for Credit Losses.’’ This ASU amends disclosure requirements with
respect to the credit quality of financing receivables and the related allowance for credit losses. Entities
will be required to disaggregate by portfolio segment or class certain existing disclosures and provide
certain new disclosures about its financing receivables and related allowance for credit losses.
Disclosures to be made as of the end of a reporting period will be effective for the Company’s
reporting period ending December 31, 2010; the disclosures about activity that occurs during a
reporting period will be effective for the Company’s reporting period ending March 31, 2011. Since this
ASU only amended disclosure requirements, not current accounting practice, adoption of this ASU
with respect to end-of-reporting period disclosures did not have any impact on the Company’s balance
sheets, statements of operations or statements of cash flows.
The Company reviewed all other significant newly issued accounting pronouncements and
concluded that they either are not applicable to the Company’s operations or that no material effect is
expected on the Company’s financial statements as a result of future adoption.
92