New Accounting Pronouncements | 9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2011 | |||
| New Accounting Pronouncements [Abstract] | |||
| New Accounting Pronouncements |
In September, 2011, the FASB issued new accounting guidance surrounding an entity's goodwill impairment testing. The new guidance allows for an entity to elect to assess qualitative factors when evaluating for goodwill impairment. If qualitative factors indicate that there may be impairment, prior guidance using quantitative factors should still be applied. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. This guidance will not have a material impact on our consolidated statements of financial position or results of operations. In October, 2010, the FASB issued new accounting guidance that modified the definition of costs that can be capitalized in the acquisition of new and renewal business for insurance companies. The guidance defines criteria for the capitalization of acquisition costs in a more specific manner than defined in previous guidance. The guidance is effective for calendar years beginning after December 15, 2011. We intend to adopt this guidance prospectively on January 1, 2012. The amount of acquisition costs we will defer under the new guidance will be less than the amount deferred under our current accounting practice. The adoption of this guidance is not expected to have a material impact on our financial condition. |