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‘‘Goodwill and Other Intangible Assets’’ (‘‘FAS 142’’). This change is intended to improve the consistency
between the useful life of a recognized intangible asset under FAS 142 and the period of expected cash
flows used to measure the fair value of the asset under FAS 141R and other GAAP. FSP 142-3 is effective
for financial statements issued for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years, which will be our fiscal year 2010. The requirement for determining useful lives
must be applied prospectively to intangible assets acquired after the effective date and the disclosure
requirements must be applied prospectively to all intangible assets recognized as of, and subsequent to, the
effective date. We adopted this statement on April 1, 2009, and the adoption did not have a material
impact on our results of operations, financial position or cash flows.
In December 2007, the FASB issued SFAS No. 160, ‘‘Noncontrolling Interests in Consolidated Financial
Statements’’ (‘‘FAS 160’’). This Statement amends Accounting Research Bulletin (‘‘ARB’’) No. 51,
‘‘Consolidated Financial Statements’’ to establish accounting and reporting standards for the
non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a
non-controlling interest in a subsidiary is an ownership interest in the consolidated entity that should be
reported as equity in the consolidated financial statements. FAS 160 is effective for fiscal years and interim
periods within those fiscal years, beginning on or after December 15, 2008, which will be our fiscal year
2010. We adopted this statement on April 1, 2009, and the adoption did not have a material impact on our
results of operations, financial position or cash flows.
In March 2008, the FASB issued SFAS No. 161, ‘‘Disclosures about Derivative Instruments and Hedging
Activities—an amendment of FASB Statement No. 133’’ (‘‘FAS 161’’). This Statement changes the
disclosure requirements for derivative instruments and hedging activities. Under FAS 161, entities are
required to provide enhanced disclosures about (a) how and why an entity uses derivative instruments,
(b) how derivative instruments and related hedged items are accounted for under Statement 133 and its
related interpretations, and (c) how derivative instruments and related hedged items affect an entity’s
financial position, financial performance, and cash flows. FAS 161 is effective for financial statements
issued for fiscal years and interim periods beginning after November 15, 2008, which was our fourth
quarter of fiscal year 2009. We adopted this statement on January 1, 2009, and the adoption did not have a
material impact on our results of operations, financial position or cash flows.
In June 2007, the FASB ratified the Emerging Issues Task Force (‘‘EITF’’) consensus conclusion on EITF
No. 07-3, ‘‘Accounting for Advance Payments for Goods or Services to be Used in Future Research and
Development’’ (‘‘EITF 07-3’’). EITF 07-3 addresses the diversity which exists with respect to the
accounting for the non-refundable portion of a payment made by a research and development entity for
future research and development activities. Under this conclusion, an entity is required to defer and
capitalize non-refundable advance payments made for research and development activities until the
related goods are delivered or the related services are performed. EITF 07-3 requires prospective
application for new contracts entered into after the effective date. We adopted this statement on April 1,
2008, and the adoption did not have a material impact on our results of operations, financial position or
cash flows.
In December 2007, the FASB ratified the EITF consensus on EITF Issue No. 07-1, ‘‘Accounting for
Collaborative Arrangements’’ that discusses how parties to a collaborative arrangement (which does not
establish a legal entity within such arrangement) should account for various activities. The consensus
indicates that costs incurred and revenues generated from transactions with third parties (i.e. parties
outside of the collaborative arrangement) should be reported by the collaborators on the respective line
items in their income statements pursuant to EITF Issue No. 99-19, ‘‘Reporting Revenue Gross as a
Principal Versus Net as an Agent.’’ Additionally, the consensus provides that income statement
characterization of payments between the participation in a collaborative arrangement should be based
upon existing authoritative pronouncements; analogy to such pronouncements if not within their scope; or
a reasonable, rational, and consistently applied accounting policy election. EITF Issue No. 07-1 is effective
for interim or annual reporting periods in fiscal years beginning after December 15, 2008, which is our
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