About XBRL

XBRL, or eXtensible Business Reporting Language, is an XML standard for tagging business and financial reports to increase the transparency and accessibility of business information by using a uniform format.

This standard is maintained by XBRL International, an international non-profit consortium of approximately 450 major companies, organizations, and government agencies around the world. It is an open standard, provided free of license fees, and is already being used in numerous countries.

XBRL US, the US-based organization of XBRL International, supports the implementation of XBRL in the United States through the development of the digital dictionary (taxonomy) relevant for use by US public and private sectors. XBRL US works to achieve interoperability between sectors by promoting adoption of XBRL through the collaboration of all business reporting participants, ranging from the preparer through the investor, including regulators, standard setters, data aggregators, accounting firms, analysts, software vendors, and other stakeholders.

The US GAAP Financial Reporting Taxonomy is a list of computer-readable tags in XBRL that allows companies to label precisely the thousands of pieces of financial data that are included in typical long-form financial statements and related footnote disclosures. The tags allow computers to automatically search for and assemble data so those data can be readily accessed and analyzed by investors, analysts, journalists, and the SEC staff.

The SEC Rule—“Interactive Data to Improve Financial Reporting”—requires domestic and foreign companies using US GAAP and, eventually, foreign private issuers using International Financial Reporting Standards (IFRS) to provide their financial statements in the XBRL format as an exhibit to their periodic and current reports and registration statements, as well as to transition reports needed to be filed as a result of a change in fiscal year. Filers required to comply are to be phased-in over 3 years, in 2 stages, beginning with a periodic report on Form 10-Q, Form 20-F or Form 40-F (as applicable) containing financial statements for a fiscal period ending on or after June 15, 2009.

The first stage for a filer requires XBRL tagging for the filer’s complete financial statements and any required financial statement schedules, although “detail tagging” of the footnotes and schedules are not required until the second year. In the second year, the filer must also include “block tagging” for each significant accounting policy and each table within each footnote. Additionally, within each footnote, each amount (i.e., monetary value, percentage, and number) must be separately tagged. This last requirement is commonly referred to as “detail tagging.”

THE INFORMATION PROVIDED IN THIS SUMMARY DOES NOT CONSTITUTE LEGAL OR ACCOUNTING ADVICE OR OPINION AND SHOULD NOT BE RELIED UPON FOR ANY PLANNING OR COMPLIANCE PURPOSES. IT IS PROVIDED SOLELY AND EXCLUSIVELY FOR GENERAL, NONSPECIFIC EDUCATIONAL PURPOSES. YOU SHOULD CONSULT WITH YOUR OWN PROFESSIONALS AND CONSULTANTS AS TO HOW XBRL REQUIREMENTS AFFECT YOU AND/OR YOUR COMPANY.

For additional details and related guidance, see the SEC website.