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This excerpt taken from the SNDK 8-K filed Jun 3, 2009. Cash
Equivalents, Short and Long-Term Investments. Cash equivalents
consist of short-term, highly liquid financial instruments with insignificant
interest rate risk that are readily convertible to cash and have maturities of
three months or less from the date of purchase. Investments with
original maturities greater than three months and remaining maturities less than
one year are classified as short-term investments. Investments with
remaining maturities greater than one year as of the balance sheet date are
classified as long-term investments. Short and long-term fixed income
investments consist of commercial paper, United States (“U.S.”) government and
agency obligations, corporate/municipal notes and bonds, and variable rate
demand notes. Both short and long-term investments also include
investments in certain equity securities. The fair market value,
based on quoted market prices, of cash equivalents, and short and long-term
investments at December 28, 2008, approximated their carrying
value. Cost of securities sold is based on a first-in, first-out
method.
In
determining if and when a decline in market value below cost of these
investments is other-than-temporary, the Company evaluates both quantitative and
qualitative information including the market conditions, offering prices, trends
of earnings, price multiples and other key measures. When such a
decline in value is deemed to be other-than-temporary, the Company recognizes an
impairment loss in the current period operating results to the extent of the
decline.
These excerpts taken from the SNDK 10-K filed Feb 26, 2009. Cash Equivalents,
Short and Long-Term Investments. Cash equivalents consist of
short-term, highly liquid financial instruments with insignificant interest rate
risk that are readily convertible to cash and have maturities of three months or
less from the date of purchase. Investments with original maturities
greater than three months and remaining maturities less than one year are
classified as short-term investments. Investments with remaining
maturities greater than one year as of the balance sheet date are classified as
long-term investments. Short and long-term fixed income investments
consist of commercial paper, United States (“U.S.”) government and agency
obligations, corporate/municipal notes and bonds, and variable rate demand
notes. Both short and long-term investments also include investments
in certain equity securities. The fair market value, based on quoted
market prices, of cash equivalents, and short and long-term investments at
December 28, 2008, approximated their carrying value. Cost of
securities sold is based on a first-in, first-out method.
In
determining if and when a decline in market value below cost of these
investments is other-than-temporary, the Company evaluates both quantitative and
qualitative information including the market conditions, offering prices, trends
of earnings, price multiples and other key measures. When such a
decline in value is deemed to be other-than-temporary, the Company recognizes an
impairment loss in the current period operating results to the extent of the
decline.
Cash Equivalents, Short and Long-Term Investments. Cash equivalents consist of short-term, highly liquid financial instruments with insignificant interest rate risk that are readily convertible to cash and have maturities of three months or less from the date of purchase. Investments with original maturities greater than three months and remaining maturities less than one year are classified as short-term investments. Investments with remaining maturities greater than one year as of the balance sheet date are classified as long-term investments. Short and long-term fixed income investments consist of commercial paper, United States (“U.S.”) government and agency obligations, corporate/municipal notes and bonds, and variable rate demand notes. Both short and long-term investments also include investments in certain equity securities. The fair market value, based on quoted market prices, of cash equivalents, and short and long-term investments at December 28, 2008, approximated their carrying value. Cost of securities sold is based on a first-in, first-out method. In determining if and when a decline in market value below cost of these investments is other-than-temporary, the Company evaluates both quantitative and qualitative information including the market conditions, offering prices, trends of earnings, price multiples and other key measures. When such a decline in value is deemed to be other-than-temporary, the Company recognizes an impairment loss in the current period operating results to the extent of the decline. These excerpts taken from the SNDK 10-K filed Feb 25, 2009. Cash Equivalents,
Short and Long-Term Investments. Cash equivalents consist of
short-term, highly liquid financial instruments with insignificant interest rate
risk that are readily convertible to cash and have maturities of three months or
less from the date of purchase. Investments with original maturities
greater than three months and remaining maturities less than one year are
classified as short-term investments. Investments with remaining
maturities greater than one year as of the balance sheet date are classified as
long-term investments. Short and long-term fixed income investments
consist of commercial paper, United States (“U.S.”) government and agency
obligations, corporate/municipal notes and bonds, and variable rate demand
notes. Both short and long-term investments also include investments
in certain equity securities. The fair market value, based on quoted
market prices, of cash equivalents, and short and long-term investments at
December 28, 2008, approximated their carrying value. Cost of
securities sold is based on a first-in, first-out method.
In
determining if and when a decline in market value below cost of these
investments is other-than-temporary, the Company evaluates both quantitative and
qualitative information including the market conditions, offering prices, trends
of earnings, price multiples and other key measures. When such a
decline in value is deemed to be other-than-temporary, the Company recognizes an
impairment loss in the current period operating results to the extent of the
decline.
Cash Equivalents, Short and Long-Term Investments. Cash equivalents consist of short-term, highly liquid financial instruments with insignificant interest rate risk that are readily convertible to cash and have maturities of three months or less from the date of purchase. Investments with original maturities greater than three months and remaining maturities less than one year are classified as short-term investments. Investments with remaining maturities greater than one year as of the balance sheet date are classified as long-term investments. Short and long-term fixed income investments consist of commercial paper, United States (“U.S.”) government and agency obligations, corporate/municipal notes and bonds, and variable rate demand notes. Both short and long-term investments also include investments in certain equity securities. The fair market value, based on quoted market prices, of cash equivalents, and short and long-term investments at December 28, 2008, approximated their carrying value. Cost of securities sold is based on a first-in, first-out method. In determining if and when a decline in market value below cost of these investments is other-than-temporary, the Company evaluates both quantitative and qualitative information including the market conditions, offering prices, trends of earnings, price multiples and other key measures. When such a decline in value is deemed to be other-than-temporary, the Company recognizes an impairment loss in the current period operating results to the extent of the decline. | EXCERPTS ON THIS PAGE:
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