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Recently Issued Accounting Standards
9 Months Ended
Sep. 30, 2011
Recently Issued Accounting Standards [Abstract] 
Recently Issued Accounting Standards
15.
Recently issued accounting standards

 
In May 2011, The Financial and Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-04, “Fair Value Measurement.” This ASU amends the requirements for measuring fair value and disclosing information about fair value measurements and is effective for Century on January 1, 2012.  Upon adoption, we do not expect this standard to have a material impact on the reporting of our financial condition or results of operations.
 
In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income”.  This ASU addresses the financial statement presentation of other comprehensive income and its components.  Companies may elect to present items of net income and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. We are currently evaluating which presentation option we will utilize.  This guidance will only impact the presentation of our financial statements and have no impact on our financial position, results of operations or cash flows.  This ASU is effective for Century on January 1, 2012.
 
In September 2011, the FASB issued ASU 2011-09, “Disclosure about an Employer’s Participation in Multiemployer Benefit Plans,” which amends current pension disclosure requirements by increasing the quantitative and qualitative disclosures that we are required to provide about our participation in significant multiemployer plans that offer pension and other postretirement benefits.  The ASU’s objective is to enhance the transparency of disclosures about (1) the significant multiemployer plans in which we participate, (2) the level of our participation in those plans, (3) the financial health of the plans, and (4) the nature of our commitments to the plans.  This guidance will only impact the disclosures within our financial statements and will have no impact on our financial position, results of operations or cash flows.  The ASU is effective for our current fiscal year ending December 31, 2011.