GPRO » Topics » Impairment of long-lived assets

These excerpts taken from the GPRO 10-K filed Feb 25, 2009.
Impairment of long-lived assets
 
In accordance with SFAS No. 142, the Company does not amortize its goodwill and intangible assets with indefinite useful lives. SFAS No. 142 requires that these assets be reviewed for impairment at least annually. The Company completed its impairment test in the fourth quarter of 2008 and determined that no impairment loss was necessary. If the assets were considered to be impaired, the impairment charge would be the amount by which the carrying value of the assets exceeds the fair value of the assets.
 
In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” periodically and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company performs an impairment analysis to determine if it expects to recover the costs through the subsequent sales of applicable products. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value.
 
During the year ended December 31, 2008, due to certain indicators of impairment, the Company recorded impairment charges totaling $5,086,000 related to its equity investment in Qualigen, Inc. and its license agreement with Corixa Corporation. Please see Notes 5 and 6, respectively, for a complete discussion of the impairment analysis.
 
Impairment of long-lived assets
 
In accordance with SFAS No. 142, the Company does not amortize its goodwill and intangible assets with indefinite useful lives. SFAS No. 142 requires that these assets be reviewed for impairment at least annually. The Company completed its impairment test in the fourth quarter of 2008 and determined that no impairment loss was necessary. If the assets were considered to be impaired, the impairment charge would be the amount by which the carrying value of the assets exceeds the fair value of the assets.
 
In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” periodically and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company performs an impairment analysis to determine if it expects to recover the costs through the subsequent sales of applicable products. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value.
 
During the year ended December 31, 2008, due to certain indicators of impairment, the Company recorded impairment charges totaling $5,086,000 related to its equity investment in Qualigen, Inc. and its license agreement with Corixa Corporation. Please see Notes 5 and 6, respectively, for a complete discussion of the impairment analysis.
 
Impairment of long-lived assets
 
In accordance with SFAS No. 142, the Company does not amortize its goodwill and intangible assets with indefinite useful lives. SFAS No. 142 requires that these assets be reviewed for impairment at least annually. The Company completed its impairment test in the fourth quarter of 2008 and determined that no impairment loss was necessary. If the assets were considered to be impaired, the impairment charge would be the amount by which the carrying value of the assets exceeds the fair value of the assets.
 
In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” periodically and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company performs an impairment analysis to determine if it expects to recover the costs through the subsequent sales of applicable products. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value.
 
During the year ended December 31, 2008, due to certain indicators of impairment, the Company recorded impairment charges totaling $5,086,000 related to its equity investment in Qualigen, Inc. and its license agreement with Corixa Corporation. Please see Notes 5 and 6, respectively, for a complete discussion of the impairment analysis.
 
Impairment
of long-lived assets



 



In accordance with SFAS No. 142, the Company does not
amortize its goodwill and intangible assets with indefinite
useful lives. SFAS No. 142 requires that these assets
be reviewed for impairment at least annually. The Company
completed its impairment test in the fourth quarter of 2008 and
determined that no impairment loss was necessary. If the assets
were considered to be impaired, the impairment charge would be
the amount by which the carrying value of the assets exceeds the
fair value of the assets.


 



In accordance with SFAS No. 144, “Accounting for
the Impairment or Disposal of Long-Lived Assets,”
periodically and whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be
recoverable, the Company performs an impairment analysis to
determine if it expects to recover the costs through the
subsequent sales of applicable products. If impairment is
indicated, the Company measures the amount of such impairment by
comparing the fair value to the carrying value.


 



During the year ended December 31, 2008, due to certain
indicators of impairment, the Company recorded impairment
charges totaling $5,086,000 related to its equity investment in
Qualigen, Inc. and its license agreement with Corixa
Corporation. Please see Notes 5 and 6, respectively, for a
complete discussion of the impairment analysis.


 




Impairment
of long-lived assets



 



In accordance with SFAS No. 142, the Company does not
amortize its goodwill and intangible assets with indefinite
useful lives. SFAS No. 142 requires that these assets
be reviewed for impairment at least annually. The Company
completed its impairment test in the fourth quarter of 2008 and
determined that no impairment loss was necessary. If the assets
were considered to be impaired, the impairment charge would be
the amount by which the carrying value of the assets exceeds the
fair value of the assets.


 



In accordance with SFAS No. 144, “Accounting for
the Impairment or Disposal of Long-Lived Assets,”
periodically and whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be
recoverable, the Company performs an impairment analysis to
determine if it expects to recover the costs through the
subsequent sales of applicable products. If impairment is
indicated, the Company measures the amount of such impairment by
comparing the fair value to the carrying value.


 



During the year ended December 31, 2008, due to certain
indicators of impairment, the Company recorded impairment
charges totaling $5,086,000 related to its equity investment in
Qualigen, Inc. and its license agreement with Corixa
Corporation. Please see Notes 5 and 6, respectively, for a
complete discussion of the impairment analysis.


 




Impairment
of long-lived assets



 



In accordance with SFAS No. 142, the Company does not
amortize its goodwill and intangible assets with indefinite
useful lives. SFAS No. 142 requires that these assets
be reviewed for impairment at least annually. The Company
completed its impairment test in the fourth quarter of 2008 and
determined that no impairment loss was necessary. If the assets
were considered to be impaired, the impairment charge would be
the amount by which the carrying value of the assets exceeds the
fair value of the assets.


 



In accordance with SFAS No. 144, “Accounting for
the Impairment or Disposal of Long-Lived Assets,”
periodically and whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be
recoverable, the Company performs an impairment analysis to
determine if it expects to recover the costs through the
subsequent sales of applicable products. If impairment is
indicated, the Company measures the amount of such impairment by
comparing the fair value to the carrying value.


 



During the year ended December 31, 2008, due to certain
indicators of impairment, the Company recorded impairment
charges totaling $5,086,000 related to its equity investment in
Qualigen, Inc. and its license agreement with Corixa
Corporation. Please see Notes 5 and 6, respectively, for a
complete discussion of the impairment analysis.


 




These excerpts taken from the GPRO 10-K filed Feb 25, 2008.
Impairment of long-lived assets
 
In accordance with SFAS No. 142, the Company does not amortize its goodwill and intangible assets with indefinite useful lives. SFAS No. 142 requires that these assets be reviewed for impairment at least annually. The Company completed its impairment test in the fourth quarter of 2007 and determined that no impairment loss was necessary. If the assets were considered to be impaired, the impairment charge would be the amount by which the carrying value of the assets exceeds the fair value of the assets.


F-12


Table of Contents

GEN-PROBE INCORPORATED
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” periodically and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company performs an impairment analysis to determine if it expects to recover the costs through the subsequent sales of applicable products. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value.
 
Impairment
of long-lived assets



 



In accordance with SFAS No. 142, the Company does not
amortize its goodwill and intangible assets with indefinite
useful lives. SFAS No. 142 requires that these assets
be reviewed for impairment at least annually. The Company
completed its impairment test in the fourth quarter of 2007 and
determined that no impairment loss was necessary. If the assets
were considered to be impaired, the impairment charge would be
the amount by which the carrying value of the assets exceeds the
fair value of the assets.





F-12





Table of Contents






GEN-PROBE INCORPORATED


 



NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)


 



In accordance with SFAS No. 144, “Accounting for
the Impairment or Disposal of Long-Lived Assets,”
periodically and whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be
recoverable, the Company performs an impairment analysis to
determine if it expects to recover the costs through the
subsequent sales of applicable products. If impairment is
indicated, the Company measures the amount of such impairment by
comparing the fair value to the carrying value.


 




This excerpt taken from the GPRO 10-K filed Feb 23, 2007.
Impairment of long-lived assets
 
In accordance with SFAS No. 142, the Company does not amortize its goodwill and intangible assets with indefinite useful lives. SFAS No. 142 requires that these assets be reviewed for impairment at least annually. The Company completed its impairment test in the fourth quarter of 2006 and determined that no impairment loss was necessary. If the assets were considered to be impaired, the impairment charge would be the amount by which the carrying value of the assets exceeds the fair value of the assets.
 
In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” periodically and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company performs an impairment analysis to determine if it expects to recover the costs through the subsequent sales of applicable products. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value. There have been no indicators of impairment through December 31, 2006.
 
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