Juno 2012 Annual Report Download - page 96

Table of Contents
It is not possible to determine the maximum potential amount of exposure under these indemnification agreements due to the limited history of
prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Such indemnification agreements may not be
subject to maximum loss clauses.

At December 31, 2012, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated by the
SEC 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.

—In July 2012, the Financial Accounting Standards Board ("FASB") issued Accounting
Standards Update No. 2012-02, , as codified in ASC 350. The amendments in this update
allow an entity to first assess qualitatively whether it is more likely than not that an indefinite-lived intangible asset is impaired, thus necessitating that it
perform the quantitative impairment test. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the
quantitative impairment test unless the entity determines that it is more likely than not that the asset is impaired. An entity choosing to perform the
qualitative assessment would need to identify and consider those events and circumstances that, individually or in the aggregate, most significantly affect
an indefinite-lived intangible asset's fair value. The amendments include a number of events and circumstances for an entity to consider in conducting
the qualitative assessment. The amendments in this update are effective for annual and interim impairment tests of indefinite-lived intangible assets
performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed
as of a date before July 27, 2012, if a public entity's financial statements for the most recent annual or interim period have not yet been issued. We
perform our annual impairment assessment in the fourth quarter and adopted this update in the quarter ended December 31, 2012. The adoption of this
update did not have a material impact on our consolidated financial statements.
 —In February 2013, the FASB issued Accounting
Standards Update No. 2013-02,  , as codified in ASC 220. The
amendments in this update require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by
component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant
amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is
required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP
to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional
detail about those amounts. The amendments in this update are effective prospectively for reporting periods beginning after December 15, 2012. We do
not expect this update to have a material impact on our consolidated financial statements.
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Inflation did not have a material impact on our consolidated revenues and results of operations during the years ended December 31, 2012, 2011
and 2010, and we do not currently anticipate that inflation will have a material impact on our consolidated revenues and results of operations for the year
ending December 31, 2013.
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