APOL » Topics » Fair Value of Financial Instruments

These excerpts taken from the APOL 10-K filed Oct 28, 2008.
Fair Value of Financial Instruments
 
The carrying amount reported in the Consolidated Balance Sheets for cash and cash equivalents, restricted cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term nature of these financial instruments. The estimated fair value of certain marketable securities, including auction-rate securities instruments, are valued using a discounted cash flow approach. The fair values of our held-to-maturity investments are estimated based on quoted market prices for those or similar investments. Please refer to Note 4, Marketable Securities, for further information.
 
Fair
Value of Financial Instruments



 



The carrying amount reported in the Consolidated Balance Sheets
for cash and cash equivalents, restricted cash and cash
equivalents, accounts receivable and accounts payable
approximate fair value because of the short-term nature of these
financial instruments. The estimated fair value of certain
marketable securities, including auction-rate securities
instruments, are valued using a discounted cash flow approach.
The fair values of our held-to-maturity investments are
estimated based on quoted market prices for those or similar
investments. Please refer to Note 4, Marketable Securities,
for further information.


 




This excerpt taken from the APOL 10-K filed Oct 29, 2007.
Fair Value of Financial Instruments
 
The carrying amount reported in the Consolidated Balance Sheets for cash and cash equivalents, restricted cash, certain marketable securities, accounts receivable and accounts payable approximate fair value because of the short-term nature of these financial instruments.
 
The related party receivable represents a promissory note due from Dr. John G. Sperling, the founder and Acting Executive Chairman of the Board, as described in Note 13. The note was executed on December 14, 2001 in an arms-length transaction and accrues interest at a fixed annual rate of six percent. The carrying value of the related party receivable reasonably approximates its fair value, as determined by applying historical index adjusted interest rates to the outstanding balance between the execution date and August 31, 2007.
 
This excerpt taken from the APOL 10-K filed May 22, 2007.
Fair Value of Financial Instruments
 
The carrying amount reported in the Consolidated Balance Sheets for cash and cash equivalents, restricted cash, certain marketable securities, accounts receivable and accounts payable approximate fair value because of the short-term nature of these financial instruments.
 
The related party receivable represents a promissory note due from Dr. John G. Sperling, the founder and Acting Executive Chairman of the Board, as described in Note 9. The note was executed on December 14, 2001 in an arms-length transaction and accrues interest at a fixed annual rate of six percent. The carrying value of the related party receivable reasonably approximates its fair value, as determined by applying historical index adjusted interest rates to the outstanding balance between the execution date and August 31, 2006.
 
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