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SFAS No. 143 – In
June 2001, the Financial Accounting Standards Board
("FASB") issued SFAS No. 143, Accounting
for Asset Retirement Obligations. SFAS No.
143 addresses financial accounting and reporting
for obligations associated with the retirement of
tangible long-lived assets and the associated asset
retirement costs and is effective for fiscal years
beginning after June 15, 2002. We do not expect
the impact of SFAS No. 143 to be material to our
consolidated financial statements.
SFAS No. 146 – In June 2002, the FASB issued
SFAS No. 146, Accounting
for Costs Associated with Exit or Disposal Activities.
SFAS No. 146 is effective for exit or disposal activities
that are initiated after December 31, 2002 and requires
that a liability for a cost associated with an exit
or disposal activity be recognized when the liability
is incurred, rather than at the date of commitment
to an exit plan. |
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