SAI » Topics » Note 12-Other Income (Expense), Net:

This excerpt taken from the SAI 10-Q filed Sep 4, 2008.
Other Income (Expense), Net. The components of other income (expense), net for the periods noted were as follows:



Three Months Ended

July 31


Six Months Ended

July 31

     2008    2007     2008    2007  
     (in millions)  

Net gains (losses) on investments, including impairment losses

   $    $ (5 )   $ 3    $ (5 )

Equity interest in earnings of unconsolidated affiliates

     2      1       5      1  


     1            3       

Total other income (expense), net

   $ 3    $ (4 )   $ 11    $ (4 )

There were no impairment losses on investments for the three and six months ended July 31, 2008. We recorded impairment losses on investments of $5 million for the three and six months ended July 31, 2007. The carrying value of our cost and equity method investments as of July 31, 2008 was $49 million.

This excerpt taken from the SAI 10-K filed Apr 12, 2007.

Note 12—Other Income (Expense), Net:

The components of other income (expense), net were as follows:


     Year Ended January 31  
     2007     2006     2005  
     (in millions)  

Impairment losses on investments

   $ (1 )   $ (6 )   $ (20 )

Gross realized gains on sale of marketable securities

           1       2  

Gross realized losses on sale of marketable securities

           (9 )     (4 )

Net gain (loss) on sale of other investments

     1       (1 )     6  

Equity interest in earnings (losses) and impairment losses of unconsolidated affiliates

     2       5       (15 )


     3       2       3  

Total other income (expense), net

   $ 5     $ (8 )   $ (28 )

The impairment losses in fiscal 2007, 2006 and 2005 were due to declines in fair value of the Company’s private equity securities that were deemed to be other-than-temporary. The carrying value of the Company’s cost and equity method investments as of January 31, 2007 was $56 million (Note 4).

The gross realized losses on the sale of marketable securities in fiscal 2006 were primarily due to the liquidation of fixed rate securities prior to their stated maturity date. The market value of the securities had been negatively impacted by rising interest rates.







Sep 4, 2008
Apr 12, 2007
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