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This excerpt taken from the ELN 20-F filed Feb 26, 2009. Assets
Measured at Fair Value on a Non-recurring Basis
We measure certain assets, including equity investments in
privately held companies, at fair value on a nonrecurring basis.
These assets are recognized at fair value when they are deemed
to be other-than-temporarily impaired. During 2008, we
recognized an impairment charge of $0.9 million as a result
of measuring at fair value a non-current investment in a
privately held biotechnology company. At December 31, 2008,
the fair value of this investment was measured at
$1.1 million based on Level 3 inputs, with estimates
derived from the company’s financial statements and
benchmarking to similar public companies. This investment is
included in the non-current equity securities balance of $7.7
million presented in Note 11, with the remaining $6.6 million
comprised of equity securities carried at cost.
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