This excerpt taken from the HBI 8-K filed Sep 5, 2006.
Exchange of Nonmonetary Assets
In December 2004, the FASB issued Statement of Financial Accounting Standards No. 153, Exchanges of Nonmonetary Assets, an amendment of APB Opinion No. 29, (SFAS No. 153) which clarifies that all nonmonetary transactions that have commercial substance should be recorded at fair value. SFAS No. 153 became effective for the Company in 2006, and did not have a material effect on the Companys results of operations, cash flows or financial position.
Notes to Combined and Consolidated Financial Statements(Continued)
(dollars in thousands, except per share data)