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This excerpt taken from the Q 10-K filed Feb 8, 2007. Asset Impairment Charges During 2004, in conjunction with our effort to sell certain assets, we determined that the carrying amounts were in excess of our expected sales price, which indicated that our investments in these assets may have been impaired at that date. As a result of these efforts and pursuant to SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” (“SFAS No. 144”), we recorded the following:
In accordance with SFAS No. 144, the estimated fair value of the impaired assets becomes the new basis for accounting purposes. As such, approximately $122 million in accumulated depreciation was eliminated against the cost of these impaired assets in connection with the accounting for these impairments. The impact of the impairments is not material to our depreciation expense. This excerpt taken from the Q 10-K filed Feb 16, 2006. Asset Impairment Charges
In conjunction with our efforts to sell certain assets during 2004, we determined that the carrying amounts of those assets were in excess of our expected sales proceeds. This, in addition to the abandonment of various leased long-term network capacity routes, resulted in an asset impairment charge of $113 million in 2004.
The 2003 asset impairment charges of $230 million were due to the anticipated decrease in usage of our wireless network following the transition of our customers onto a third-party network.
For more information on our asset impairment charges, please see Note 4—Property, Plant and Equipment to our consolidated financial statements in Item 8 of this report.
This excerpt taken from the Q 10-Q filed Nov 1, 2005. Note 3: Asset Impairment Charges
In the third quarter of 2004, pursuant to SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”, we recorded impairment charges of $26 million related to network supplies held for sale and $8 million for hosting assets sold. In addition, we recorded impairment charges during the second quarter of 2004 related to our pay phone business and network supplies held for sale in the aggregate amount of $19 million and $24 million, respectively.
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Table of ContentsQWEST COMMUNICATIONS INTERNATIONAL INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2005 (UNAUDITED)
This excerpt taken from the Q 10-Q filed Aug 2, 2005. Note 3: Asset Impairment Charges During May 2004, we recognized asset impairment charges in accordance with SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets" related to our pay phone business and network supplies held for sale in the aggregate amount of $19 million and $24 million, respectively. 11 This excerpt taken from the Q 10-K filed Feb 18, 2005. Asset impairment charges Asset impairment charges were $230 million and $10.5 billion in 2003 and 2002, respectively. The reason for the 2002 impairment charge, discussed in more detail in Note 4—Property, Plant and Equipment to our consolidated financial statements in Item 8 of this report, was a general deterioration of the telecommunications market in 2002 causing downward revisions to our expected future results. This, and other factors, indicated that our investments in our long-lived assets may have been impaired at that date. Therefore, we performed an evaluation of the recoverability of the carrying value of our long-lived assets using gross undiscounted cash flow projections. For the year ended December 31, 2002, we determined that the fair values were less than our carrying amounts by $10.5 billion in the aggregate. 44 | EXCERPTS ON THIS PAGE:
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