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This excerpt taken from the NDAQ 10-K filed Feb 27, 2009. Sublease Loss Reserve
The estimated sublease loss reserve for all subleased properties related to the cost reduction program was approximately $21.1 million at December 31, 2008 and $21.5 million at December 31, 2007 and is primarily included in accounts payable and accrued expenses and other liabilities in the Consolidated Balance Sheets. The reserve is adjusted throughout the year to reflect interest accretion, rental payments made during the year, depreciation on leasehold improvements if applicable and sublease receipts. The estimated losses were calculated using a 7.0% net discount rate and estimated sublease terms ranging from 2 years to 16 years at estimated market rates. In reviewing our sublease loss reserve analyses, we considered changes in current market conditions.
These excerpts taken from the NDAQ 10-K filed Feb 25, 2008. Sublease Loss Reserve
The estimated sublease loss reserve for all subleased properties was approximately $21.5 million at December 31, 2007 and $22.5 million at December 31, 2006 and is included in accounts payable and accrued expenses and other liabilities in the Consolidated Balance Sheets. The reserve is adjusted throughout the year to reflect interest accretion, rental payments made during the year, depreciation on leasehold improvements if applicable and sublease receipts. The estimated losses were calculated using a 7.5% net discount rate and estimated sublease terms ranging from 3 years to 17 years at estimated market rates. There have been no adjustments related to market conditions.
Sublease Loss Reserve The estimated sublease loss reserve for all subleased properties was
$4.6 million in 2005 for severance and outplacement costs. These charges were included in compensation and benefits expense in the Consolidated Statements of Income. As of December 31, 2007, we have paid all the severance and outplacement costs related to the charges recorded in 2006 and 2005. For the charge recorded in 2007, we paid approximately $2.2 million and expect to pay the remainder of the severance and outplacement costs relating to this reduction in force totaling $0.3 million in 2008.
F-21 Table of ContentsThe Nasdaq Stock Market, Inc. Notes to Consolidated Financial Statements—(Continued) This excerpt taken from the NDAQ 10-K filed Feb 28, 2007. Sublease Loss Reserve
The estimated sublease loss reserve for all subleased properties was approximately $22.5 million at December 31, 2006 and $23.2 million at December 31, 2005 and is included in accounts payable and accrued expenses and other liabilities in the Consolidated Balance Sheets. The reserve is adjusted throughout the year to reflect interest accretion, rental payments made during the year, depreciation on leasehold improvements if applicable and sublease receipts. The estimated losses were calculated using a 7.5% net discount rate and estimated sublease terms ranging from 4 years to 18 years at estimated market rates.
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