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AAPL » Topics » Note 5 - Goodwill

This excerpt taken from the AAPL 10-Q filed Dec 29, 2006.

Note 5 – Goodwill

During the third quarter of 2006, the Company sold certain assets related to its PowerSchool web-based student information system operations.  In connection with this sale, the Company reduced goodwill by $31 million for the outstanding balance from the acquisition of PowerSchool, Inc. in 2001 and recognized a $4 million pre-tax gain, which is reflected in other income and expense in the condensed consolidated statement of operations.

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