ASU 2014-03 was issued on January 16, 2014, and its provisions may be elected by entities that are not public business entities, not-for-profit entities, employee benefit plans or financial institutions. Through the early adoption provision entities may elect to use the simplified hedging method on qualifying interest rate swaps as soon as their December 31, 2013 financial statements, for calendar year companies, as long as those financial statements have not been made available for issuance prior to January 16, 2014.