30 Eme r s on 2013 Ann u al R e por t international operations Determination of the amount of taxes that might be paid on these undistributed earnings if eventually remitted is not practicable See Notes 1 3 and 13 Other Items l e G al Matte RS On October 22 2012 Invensys Systems Inc fled a suit for patent infringement against the Company and its wholly owned indirect subsidiary Micro Motion Inc in the Eastern District of Texas captioned Invensys Systems Inc v Emerson Electric Co and Micro Motion Inc USA The complaint alleges infringement on Invensys patents by Micro Motions Coriolis fowmeter Enhanced Core Processors The Invensys suit seeks unspecifed damages for past infringement and an injunction preventing the Company and Micro Motion from engaging in future infringement It is too early in the litigation to assess any potential fnancial impact The Company and Micro Motion believe that the Invensys claims are without merit and that they have strong defenses to the claims and intend to aggressively defend the suit At September 30 2013 there were no known contingent liabilities including guarantees pending litigation taxes and other claims that management believes will be material in relation to the Companys fnancial statements nor were there any material commitments outside the normal course of business n ew aCCO unt I n G P RO n O un C e M ent S In January 2013 the FASB issued updates to ASC 210 Balance Sheet requiring entities to disclose additional amounts related to derivatives subject to enforceable master netting arrangements including collateral and reconcile those amounts to the net amount presented in the balance sheet These updates are effective for the frst quarter of 2014 and will not materially impact the Companys fnancial statements In February 2013 the FASB issued updates to ASC 220 Comprehensive Income requiring entities to disclose reclassifcations into earnings from accumulated other comprehensive income AOCI by income statement line item and other current period activity There is no change to the items to be reported in AOCI or when those items should be reclassifed into earnings These updates are effective for the frst quarter of 2014