EYE » Topics » Fair Value of Financial Instruments

This excerpt taken from the EYE 10-K filed Feb 24, 2009.

Fair Value of Financial Instruments

At December 31, 2008 and 2007, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end, which management believes incorporates the Company’s nonperformance risk and credit risk.

The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

     2008    2007
     Carrying
Amount
   Fair Value    Carrying
Amount
   Fair Value

Current portion of long-term debt and short-term borrowings

   $ 119,243    $ 119,243    $ 64,500    $ 64,500

Long-term debt

     1,293,777      875,958      1,543,230      1,390,988
This excerpt taken from the EYE 10-K filed Mar 3, 2008.

Fair Value of Financial Instruments

At December 31, 2007 and 2006, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

     2007    2006
     Carrying
Amount
   Fair Value    Carrying
Amount
   Fair Value

Current portion of long-term debt and short-term borrowings

   $ 64,500    $ 64,500    $ —      $ —  

Long-term debt

     1,543,230      1,390,988      851,105      794,226

 

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Table of Contents
This excerpt taken from the EYE 8-K filed May 2, 2007.

Fair Value of Financial Instruments

At December 31, 2006 and 2005, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

 

23


The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

     2006    2005
     Carrying
Amount
   Fair Value    Carrying
Amount
   Fair Value

Current portion of long-term debt and short-term borrowings

   $ —      $ —      $ 60,000    $ 60,000

Long-term debt

     851,105      794,226      500,000      527,653
This excerpt taken from the EYE 10-K filed Mar 1, 2007.

Fair Value of Financial Instruments

At December 31, 2006 and 2005, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

2006

 

2005

 

 

 

Carrying
Amount

 

Fair Value

 

Carrying
Amount

 

Fair Value

 

Current portion of long-term debt and short-term borrowings

 

$

 

$

 

$

60,000

 

$

60,000

 

Long-term debt

 

851,105

 

794,226

 

500,000

 

527,653

 

This excerpt taken from the EYE 8-K filed Jun 6, 2006.

Fair Value of Financial Instruments

At December 31, 2005 and 2004, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

 

39


The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

     2005    2004
    

Carrying

Amount

   Fair Value   

Carrying

Amount

   Fair Value

Current portion of long-term debt and short-term borrowings

   $ 60,000    $ 60,000    $ 1,950    $ 1,950

Long-term debt

     500,000      527,653      550,643      590,104
This excerpt taken from the EYE 10-K filed Mar 14, 2006.

Fair Value of Financial Instruments

 

At December 31, 2005 and 2004, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

 

The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

 

 

2005

 

2004

 

 

 

Carrying
Amount

 

Fair Value

 

Carrying
Amount

 

Fair Value

 

Current portion of long-term debt and short-term borrowings

 

$

60,000

 

$

60,000

 

$

1,950

 

$

1,950

 

Long-term debt

 

500,000

 

527,653

 

550,643

 

590,104

 

 

This excerpt taken from the EYE 10-K filed Mar 2, 2005.

Fair Value of Financial Instruments

 

At December 31, 2004 and 2003, the Company’s financial instruments included cash and equivalents, trade receivables, accounts payable and borrowings. The carrying amount of cash and equivalents, trade receivables and accounts payable approximates fair value due to the short-term maturities of these instruments. The fair value of long-term debt was estimated based on quoted market prices at year-end.

 

The carrying amount and estimated fair value of the Company’s financial instruments at December 31 were as follows (in thousands):

 

     2004

   2003

     Carrying
Amount


   Fair Value

   Carrying
Amount


   Fair Value

Current portion of long-term debt

   $ 1,950    $ 1,950    $ 2,328    $ 2,328

Long-term debt

     550,643    $ 590,104      233,611      267,799

 

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