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AAPL » Topics » The Meaning of Other-Than-Temporary Impairment and its Application to Certain InvestmentsThis excerpt taken from the AAPL 10-Q filed Feb 3, 2006. The Meaning
of Other-Than-Temporary Impairment and its Application to Certain Investments. FSP Nos. FAS 115-1 and FAS 124-1 include guidance
for evaluating and recording impairment losses on debt and equity investments,
as well as new disclosure requirements for investments that are deemed to not
be other-than-temporarily impaired. FSP Nos. FAS 115-1 and FAS 124-1 also
require other-than-temporary impaired debt securities to be written down to its
impaired value, which becomes the new cost basis. FSP Nos. FAS 115-1 and FAS
124-1 are effective for fiscal periods beginning after December 15, 2005 and
are required to be adopted by the Company in the second quarter of fiscal
2006. Although the Company will continue
to evaluate the application of FSP Nos. FAS 115-1 and FAS 124-1, management
does not currently believe adoption will have a material impact on the Company’s
results of operations or financial position.
In December 2004, the FASB issued FSP 109-2, These excerpts taken from the AAPL 10-K filed Dec 1, 2005. The Meaning of Other-Than-Temporary Impairment and its Application to
Certain Investments. FSP Nos. FAS 115-1 and FAS 124-1
include guidance for evaluating and recording impairment losses on debt and
equity investments, as well as new disclosure requirements for investments that
are deemed to be temporarily impaired. FSP Nos. FAS 115-1 and FAS 124-1
also require other-than-temporary impaired debt securities to be written down
to its impaired value, which becomes the new cost basis. FSP Nos. FAS 115-1
and FAS 124-1 are effective for fiscal years beginning after December 15,
2005. Although the Company will continue to evaluate the application of FSP
Nos. FAS 115-1 and FAS 124-1, management does not currently
believe adoption will have a material impact on the Company’s results of
operations or financial position.
In November 2004, the FASB issued SFAS No. 151, The Meaning of Other-Than-Temporary Impairment and its Application to Certain Investments. FSP Nos. FAS 115-1 and FAS 124-1 include guidance for evaluating and recording impairment losses on debt and equity investments, as well as new disclosure requirements for investments that are deemed to be temporarily impaired. FSP Nos. FAS 115-1 and FAS 124-1 also require other-than-temporary impaired debt securities to be written down to its impaired value, which becomes the new cost basis. FSP Nos. FAS 115-1 and FAS 124-1 are effective for fiscal years beginning after December 15, 2005. Although the Company will continue to evaluate the application of FSP Nos. FAS 115-1 and FAS 124-1, management does not currently believe adoption will have a material impact on the Company’s results of operations or financial position. In November 2004, the FASB issued SFAS No. 151, This excerpt taken from the AAPL 10-Q filed Aug 3, 2005. The Meaning of Other-Than-Temporary Impairment and
Its Application to Certain Investments. EITF 03-1 includes new
guidance for evaluating and recording impairment losses on debt and equity
investments, as well as new disclosure requirements for investments that are
deemed to be temporarily impaired. In September 2004, the FASB issued FASB
Staff Position (FSP) EITF 03-1-1, which delays the effective date until
additional guidance is issued for the application of the recognition and
measurement provisions of EITF 03-1 to investments in securities that are
impaired. Although the Company will continue to evaluate the application of
EITF 03-1, management does not currently believe adoption will have a material
impact on the Company’s results of operations or financial position.
31
In November 2004, the FASB issued SFAS No. 151, This excerpt taken from the AAPL 10-Q filed May 4, 2005. The Meaning of Other-Than-Temporary
Impairment and Its Application to Certain Investments. EITF 03-1
includes new guidance for evaluating and recording impairment losses on debt
and equity investments, as well as new disclosure requirements for investments
that are deemed to be temporarily impaired. In September 2004, the FASB
issued FASB Staff Position (FSP) EITF 03-1-1, which delays the effective
date until additional guidance is issued for the application of the recognition
and measurement provisions of EITF 03-1 to investments in securities that
are impaired. Although the Company will continue to evaluate the application of
EITF 03-1, management does not currently believe adoption will have a material
impact on the Company’s results of operations or financial position.
In November 2004, the FASB issued SFAS No. 151, This excerpt taken from the AAPL 10-Q filed Feb 1, 2005. The Meaning
of Other-Than-Temporary Impairment and Its Application to Certain Investments.
EITF 03-1 includes new guidance for evaluating and recording impairment losses
on debt and equity investments, as well as new disclosure requirements for
investments that are deemed to be temporarily impaired. In September 2004,
the FASB issued FASB Staff Position (FSP) EITF 03-1-1, which delays the
effective date until additional guidance is issued for the application of the
recognition and measurement provisions of EITF 03-1 to investments in
securities that are impaired; however, the disclosure requirements are
effective for annual periods ending after June 15, 2004. Although the Company
will continue to evaluate the application of EITF 03-1, management does not
currently believe adoption will have a material impact on the Company’s results
of operations or financial position.
30
In November 2004, the FASB issued SFAS No. 151, | EXCERPTS ON THIS PAGE:
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