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ATVI » Topics » The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments,This excerpt taken from the ATVI 10-K filed Jun 9, 2006. The Meaning of
Other-Than-Temporary Impairment and Its Application to Certain Investments,” the
fair value of investments in an unrealized loss position for which an
other-than-temporary impairment has not been recognized was $672.4 million and
$508.2 million at March 31, 2006 and 2005,
respectively, with related gross unrealized losses of $5.5 million and
$4.1 million, respectively. At March 31, 2006, the gross unrealized losses were
comprised mostly of unrealized losses on U.S. agency issues, corporate bonds,
and mortgage-backed securities with $3.9 million of unrealized loss being in a
continuous unrealized loss position for twelve months or greater. At March 31,
2005, the gross unrealized losses were comprised mostly of unrealized losses on
corporate bonds, U.S. agency issues, and asset-back securities with $464,000 of
unrealized loss being in a continuous unrealized loss position for twelve
months or greater.
The Company’s investment portfolio usually consists of government and corporate securities with effective maturities less than 30 months. The longer the term of the securities, the more susceptible they are to changes in market rates of interest and yields on bonds. Investments are reviewed periodically to identify possible impairment. When evaluating the investments, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. The Company has the intent and ability to hold these securities for a reasonable period of time sufficient for a forecasted recovery of fair value up to (or beyond) the initial cost of the investment. The Company expects to realize the full value of all of these investments upon maturity or sale.
This excerpt taken from the ATVI 10-Q filed Feb 8, 2006. The Meaning of Other-Than-Temporary
Impairment and Its Application to Certain Investments,” the fair
value of investments in an unrealized loss position for which an
other-than-temporary impairment has not been recognized was $530.2 million at
December 31, 2005 with related gross unrealized losses of $5.4 million.
At December 31, 2005, the gross unrealized losses were comprised mostly of
unrealized losses on corporate bonds, U.S. agency issues, and mortgage-backed
securities with $1.5 million of unrealized loss being in a continuous
unrealized loss position for twelve months or greater.
Our investment portfolio consists of government and corporate securities with effective maturities 30 months or less. The longer the term of the securities, the more susceptible they are to changes in market rates of interest and yields on bonds. Investments are reviewed periodically to identify possible impairment. When evaluating the investments, we review factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and our ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. We have the intent and ability to hold these securities for a reasonable period of time sufficient for a forecasted recovery of fair value up to (or beyond) the initial cost of the investment. We expect to realize the full value of all of these investments upon maturity or sale.
This excerpt taken from the ATVI 10-Q filed Nov 3, 2005. The Meaning of Other-Than-Temporary Impairment and
Its Application to Certain Investments,” the fair value of
investments in an unrealized loss position for which an other-than-temporary
impairment has not been recognized was $557.4 million at September 30, 2005
with related gross unrealized losses of $4.5 million. At September 30,
2005, the gross unrealized losses were comprised mostly of unrealized losses on
corporate bonds, U.S. agency issues, and mortgage-backed securities with $0.2
million of unrealized loss being in a continuous unrealized loss position for
twelve months or greater.
Our investment portfolio consists of government and corporate securities with effective maturities less than 30 months. The longer the term of the securities, the more susceptible they are to changes in market rates of interest and yields on bonds. Investments are reviewed periodically to identify possible impairment. When evaluating the investments, we review factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and our ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. We have the intent and ability to hold these securities for a reasonable period of time sufficient for a forecasted recovery of fair value up to (or beyond) the initial cost of the investment. We expect to realize the full value of all of these investments upon maturity or sale.
This excerpt taken from the ATVI 10-Q filed Aug 4, 2005. The Meaning of
Other-Than-Temporary Impairment and Its Application to Certain Investments,” the
fair value of investments in an unrealized loss position for which an
other-than-temporary impairment has not been recognized was $478.4 million at
June 30, 2005 with related gross unrealized losses of $2.7 million. At
June 30, 2005, the gross unrealized losses were comprised mostly of unrealized
losses on corporate bonds, U.S. agency issues, and mortgage-backed securities
with $0.4 million of unrealized loss being in a continuous unrealized loss
position for twelve months or greater.
Our investment portfolio consists of government and corporate securities with effective maturities less than 30 months. The longer the term of the securities, the more susceptible they are to changes in market rates of interest and yields on bonds. Investments are reviewed periodically to identify possible impairment. When evaluating the investments, we review factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and our ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. We have the intent and ability to hold these securities for a reasonable period of time sufficient for a forecasted recovery of fair value up to (or beyond) the initial cost of the investment. We expect to realize the full value of all of these investments upon maturity or sale.
This excerpt taken from the ATVI 10-K filed Jun 9, 2005. The Meaning of
Other-Than-Temporary Impairment and Its Application to Certain Investments,” the
fair value of investments in an unrealized loss position for which an
other-than-temporary impairment has not been recognized was $508,224,000 and
$28,583,000 at March 31, 2005 and 2004,
respectively, with related gross unrealized losses of $4,144,000 and
$66,000, respectively. At March 31,
2005, the gross unrealized losses were comprised mostly of unrealized losses on
corporate bonds, U.S. agency issues, and asset-back securities with $464,000 of
unrealized loss being in a continuous unrealized loss position for twelve
months or greater. At March 31,
2004, the gross unrealized losses were comprised mostly of unrealized losses on
corporate bonds, U.S. agency issues, and asset-back securities with $21,000 of
unrealized loss being in a continuous unrealized loss position for twelve
months or greater.
The Company’s investment portfolio consists of government and corporate securities with effective maturities less than 30 months. The longer the term of the securities, the more susceptible they are to changes in market rates of interest and yields on bonds. Investments are reviewed periodically to identify possible impairment. When evaluating the investments, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. The Company has the intent and ability to hold these securities for a reasonable period of time sufficient for a forecasted recovery of fair value up to (or beyond) the initial cost of the investment. The Company expects to realize the full value of all of these investments upon maturity or sale.
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