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This excerpt taken from the WYN 10-Q filed May 7, 2009. Changes
in Accounting Policies during 2009
Business Combinations. In December 2007, the
Financial Accounting Standards Board (“FASB”) issued
SFAS No. 141(R), “Business Combinations”
(“SFAS No. 141(R)”), replacing
SFAS No. 141. SFAS No. 141(R) establishes
principles and requirements for how the acquirer of a business
recognizes and measures in its financial statements the
identifiable assets acquired, the liabilities assumed, and any
noncontrolling interest in the acquiree.
SFAS No. 141(R) also provides guidance for recognizing
and measuring the goodwill acquired in the business combination
and determines what information to disclose to enable users of
the financial statements to evaluate the nature and financial
effects of the business combination. This Statement applies
prospectively to business combinations for which the acquisition
date is on or after the beginning of the first annual reporting
period beginning
Table of Contents
on or after December 15, 2008. The Company adopted
SFAS No. 141(R) on January 1, 2009, as required.
There was no material impact on the Company’s Consolidated
Financial Statements resulting from the adoption.
Noncontrolling Interests in Consolidated Financial
Statements—an amendment of ARB
No. 51. In December 2007, the FASB issued
SFAS No. 160, “Noncontrolling Interests in
Consolidated Financial Statements—an amendment of ARB
No. 51” (“SFAS No. 160”).
SFAS No. 160 amends ARB No. 51 to establish
accounting and reporting standards for the noncontrolling
interest in a subsidiary and for the deconsolidation of a
subsidiary. It clarifies that a noncontrolling interest in a
subsidiary is an ownership interest in the consolidated entity
that should be reported as equity in the consolidated financial
statements. In addition to the amendments to ARB No. 51,
SFAS No. 160 amends SFAS No. 128; such that
earnings per share data will continue to be calculated the same
way that such data were calculated before this Statement was
issued. SFAS No. 160 is effective for fiscal years,
and interim periods within those fiscal years, beginning on or
after December 15, 2008. The Company adopted
SFAS No. 160 on January 1, 2009, as required.
There was no material impact on the Company’s Consolidated
Financial Statements resulting from the adoption.
Disclosure about Derivative Instruments and Hedging
Activities—an amendment of
SFAS No. 133. In March 2008, the FASB
issued SFAS No. 161, “Disclosure about Derivative
Instruments and Hedging Activities—an amendment of
SFAS No. 133” (“SFAS No. 161”).
SFAS No. 161 requires specific disclosures regarding
the location and amounts of derivative instruments in the
Company’s financial statements; how derivative instruments
and related hedged items are accounted for; and how derivative
instruments and related hedged items affect the Company’s
financial position, financial performance, and cash flows. SFAS
No. 161 is effective for fiscal years and interim periods
after November 15, 2008. The Company adopted
SFAS No. 161 on January 1, 2009, as required. See
Note 8—Derivative Instruments and Hedging Activities
for a detailed explanation of the impact on the adoption.
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