UPS 2009 Annual Report Download - page 73

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Derivatives and Hedging: The FASB issued certain disclosure requirements for derivatives and hedging
transactions that took effect on January 1, 2009 and are presented in Note 14.
Business Combinations: The FASB issued new accounting requirements for business combinations, which
took effect on January 1, 2009. This new guidance was applied to business combinations completed in 2009,
but had an immaterial impact on our financial statements.
Consolidation: The FASB issued accounting and presentation requirements for noncontrolling interests,
which took effect on January 1, 2009, however this new guidance had an immaterial impact on our financial
statements.
Accounting Standards Issued But Not Yet Effective
Other new pronouncements issued but not effective until after December 31, 2009, are not expected to have
a significant effect on our consolidated financial position or results of operations.
Changes in Presentation
Certain prior year amounts have been reclassified to conform to the current year presentation.
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