These excerpts taken from the WBCO 10-Q filed May 11, 2009.
Recognition and Presentation of Other-Than-Temporary Impairments. The Company does not expect the standard to have any impact on the consolidated financial statements and does not intend to early adopt the standard.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(2) Recent Financial Accounting Pronouncements- Continued
The FASB has issued FSP FAS 115-2 and FAS 124-2,
Recognition and Presentation of Other-Than-Temporary Impairments. This FSP: