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This excerpt taken from the LXK 10-K filed Feb 27, 2009. Interest
Rates
At December 31, 2008, the fair value of the Company’s
senior notes was estimated at $505 million using quoted
market prices obtained from an independent broker. The carrying
value as recorded in the Consolidated Statements of Financial
Position at December 31, 2008 exceeded the fair value of
the senior notes by approximately $143.7 million. Market
risk is estimated as the potential change in fair value
resulting from a hypothetical 10% adverse change in interest
rates and amounts to approximately $26.9 million at
December 31, 2008.
See the section titled “LIQUIDITY AND CAPITAL
RESOURCES — Investing Activities:” in
Item 7 of this report for a discussion of the
Company’s auction rate securities portfolio which is
incorporated herein by reference.
This excerpt taken from the LXK 10-K filed Feb 27, 2008. Interest
Rates
At December 31, 2007, the fair value of the Company’s
senior notes was estimated at $150 million using quoted
market prices and yields obtained through independent pricing
sources for the same or similar types of borrowing arrangements,
taking into consideration the underlying terms of the debt. The
fair value of the senior notes exceeded the carrying value as
recorded in the Consolidated Statements of Financial Position at
December 31, 2007, by approximately $0.4 million.
Market risk is estimated as the potential change in fair value
resulting from a hypothetical 10% adverse change in interest
rates and amounts to approximately $0.3 million at
December 31, 2007.
The Company has interest rate swaps that serve as a fair value
hedge of the Company’s senior notes. The fair value of the
interest rate swaps at December 31, 2007, was an asset of
$0.1 million. Market risk for the interest rate swaps is
estimated as the potential change in fair value resulting from a
hypothetical 10% adverse change in interest rates and amounts to
approximately $0.3 million at December 31, 2007.
This excerpt taken from the LXK 10-K filed Feb 28, 2007. Interest
Rates
At December 31, 2006, the fair value of the Company’s
senior notes was estimated at $152 million using quoted
market prices and yields obtained through independent pricing
sources for the same or similar types of borrowing arrangements,
taking into consideration the underlying terms of the debt. The
fair value of the senior notes exceeded the carrying value as
recorded in the Consolidated Statements of Financial Position at
December 31, 2006, by approximately $2 million. Market
risk is estimated as the potential change in fair value
resulting from a hypothetical 10% adverse change in interest
rates and amounts to approximately $1 million at
December 31, 2006.
The Company has interest rate swaps that serve as a fair value
hedge of the Company’s senior notes. The fair value of the
interest rate swaps at December 31, 2006, was a liability
of $2 million. Market risk for the interest rate swaps is
estimated as the potential change in fair value resulting from a
hypothetical 10% adverse change in interest rates and amounts to
approximately $1 million at December 31, 2006.
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