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These excerpts taken from the HBI 10-K filed Feb 19, 2008. Depreciation
and Impairment of Property, Plant and Equipment
We state property, plant and equipment at its historical cost,
and we compute depreciation using the straight-line method over
the asset’s life. We estimate an asset’s life based on
historical experience, manufacturers’ estimates,
engineering or appraisal evaluations, our future business plans
and the period over which the asset will economically benefit
us, which may be the same as or shorter than its physical life.
Our policies require that we periodically review our
assets’ remaining depreciable lives based upon actual
experience and expected future utilization. A change in the
depreciable life is treated as a change in accounting estimate
and the accelerated depreciation is accounted for in the period
of change and future periods. Based upon current levels of
depreciation, the average remaining depreciable life of our net
property other than land is five years.
We test an asset for recoverability whenever events or changes
in circumstances indicate that its carrying value may not be
recoverable. Such events include significant adverse changes in
business climate, several periods of operating or cash flow
losses, forecasted continuing losses or a current expectation
that an asset or asset group will be disposed of before the end
of its useful life. We evaluate an asset’s recoverability
by comparing the asset or asset group’s net carrying amount
to the future net undiscounted cash flows we expect such asset
or asset group will generate. If we determine that an asset is
not recoverable, we recognize an impairment loss in the amount
by which the asset’s carrying amount exceeds its estimated
fair value.
When we recognize an impairment loss for an asset held for use,
we depreciate the asset’s adjusted carrying amount over its
remaining useful life. We do not restore previously recognized
impairment losses if circumstances change.
Depreciation and Impairment of Property, Plant and Equipment We state property, plant and equipment at its historical cost, and we compute depreciation using the straight-line method over the asset’s life. We estimate an asset’s life based on historical experience, manufacturers’ estimates, engineering or appraisal evaluations, our future business plans and the period over which the asset will economically benefit us, which may be the same as or shorter than its physical life. Our policies require that we periodically review our assets’ remaining depreciable lives based upon actual experience and expected future utilization. A change in the depreciable life is treated as a change in accounting estimate and the accelerated depreciation is accounted for in the period of change and future periods. Based upon current levels of depreciation, the average remaining depreciable life of our net property other than land is five years. We test an asset for recoverability whenever events or changes in circumstances indicate that its carrying value may not be recoverable. Such events include significant adverse changes in business climate, several periods of operating or cash flow losses, forecasted continuing losses or a current expectation that an asset or asset group will be disposed of before the end of its useful life. We evaluate an asset’s recoverability by comparing the asset or asset group’s net carrying amount to the future net undiscounted cash flows we expect such asset or asset group will generate. If we determine that an asset is not recoverable, we recognize an impairment loss in the amount by which the asset’s carrying amount exceeds its estimated fair value. When we recognize an impairment loss for an asset held for use, we depreciate the asset’s adjusted carrying amount over its remaining useful life. We do not restore previously recognized impairment losses if circumstances change. This excerpt taken from the HBI 8-K filed Nov 29, 2006. Depreciation
and Impairment of Property, Plant and Equipment
We state property, plant and equipment at its historical cost,
and we compute depreciation using the straight-line method over
the asset’s life. We estimate an asset’s life based on
historical experience, manufacturers’ estimates,
engineering or appraisal evaluations, our future business plans
and the period over which the asset will economically benefit
us, which may be the same as or shorter than its physical life.
Our policies require that we periodically review our
assets’ remaining depreciable lives based upon actual
experience and expected future utilization. Based upon current
levels of depreciation, the average remaining depreciable life
of our net property other than land is five years.
We test an asset for recoverability whenever events or changes
in circumstances indicate that its carrying value may not be
recoverable. Such events include significant adverse changes in
business climate, current period operating or cash flow losses,
forecasted continuing losses or a current expectation that an
asset will be disposed of before the end of its useful life. We
evaluate an asset’s recoverability by comparing the
asset’s net carrying amount to the future net undiscounted
cash flows we expect such asset will generate. If we determine
that an asset is not recoverable, we recognize an impairment
loss in the amount by which the asset’s carrying amount
exceeds its estimated fair value.
When we recognize an impairment loss for an asset held for use,
we depreciate the asset’s adjusted carrying amount over its
remaining useful life. We do not restore previously recognized
impairment losses.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Depreciation
and Impairment of Property, Plant and Equipment
We state property, plant and equipment at its historical cost,
and we compute depreciation using the straight-line method over
the asset’s life. We estimate an asset’s life based on
historical experience, manufacturers’ estimates,
engineering or appraisal evaluations, our future business plans
and the period over which the asset will economically benefit
us, which may be the same as or shorter than its physical life.
Our policies require that we periodically review our
assets’ remaining depreciable lives based upon actual
experience and expected future utilization. Based upon current
levels of depreciation, the average remaining depreciable life
of our net property other than land is five years.
We test an asset for recoverability whenever events or changes
in circumstances indicate that its carrying value may not be
recoverable. Such events include significant adverse changes in
business climate, current period operating or cash flow losses,
forecasted continuing losses or a current expectation that an
asset will be disposed of before the end of its useful life. We
evaluate an asset’s recoverability by comparing the
asset’s net carrying amount to the future net undiscounted
cash flows we expect such asset will generate. If we determine
that an asset is not recoverable, we recognize an impairment
loss in the amount by which the asset’s carrying amount
exceeds its estimated fair value.
When we recognize an impairment loss for an asset held for use,
we depreciate the asset’s adjusted carrying amount over its
remaining useful life. We do not restore previously recognized
impairment losses.
Table of Contents
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Depreciation and Impairment of Property, Plant and Equipment We state property, plant and equipment at its historical cost, and we compute depreciation using the straight-line method over the asset’s life. We estimate an asset’s life based on historical experience, manufacturers’ estimates, engineering or appraisal evaluations, our future business plans and the period over which the asset will economically benefit us, which may be the same as or shorter than its physical life. Our policies require that we periodically review our assets’ remaining depreciable lives based upon actual experience and expected future utilization. Based upon current levels of depreciation, the average remaining depreciable life of our net property other than land is five years. We test an asset for recoverability whenever events or changes in circumstances indicate that its carrying value may not be recoverable. Such events include significant adverse changes in business climate, current period operating or cash flow losses, forecasted continuing losses or a current expectation that an asset will be disposed of before the end of its useful life. We evaluate an asset’s recoverability by comparing the asset’s net carrying amount to the future net undiscounted cash flows we expect such asset will generate. If we determine that an asset is not recoverable, we recognize an impairment loss in the amount by which the asset’s carrying amount exceeds its estimated fair value. When we recognize an impairment loss for an asset held for use, we depreciate the asset’s adjusted carrying amount over its remaining useful life. We do not restore previously recognized impairment losses. | EXCERPTS ON THIS PAGE:
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