Sohu.com (SOHU)

21. Financial Instruments

The carrying amounts of the Company’s cash and cash equivalents and restricted cash approximated their fair value due to the short maturity of those instruments. The carrying values of receivables and payables also approximated their market values based on their short-term maturities.

F-28

Table of Contents

21. Financial Instruments

FACE="Times New Roman" SIZE="2">The carrying amounts of the Company’s cash and cash equivalents and restricted cash approximated their fair value due to the short maturity of those instruments. The carrying values of receivables and payables
also approximated their market values based on their short-term maturities.

F-28

Table of Contents

20. Financial Instruments

The carrying amount of the Company’s cash and cash equivalents approximates their fair value due to the short maturity of those instruments. The carrying value of receivables and payables approximated their market value based on their short-term maturities. The investments in marketable debt securities are reported at fair market value as of the balance sheet dates. The fair market value for the zero coupon convertible senior notes was $6,000 and $57.8 million as of December 31, 2007 and 2006, respectively.

20. Financial Instruments

FACE="Times New Roman" SIZE="2">The carrying amount of the Company’s cash and cash equivalents approximates their fair value due to the short maturity of those instruments. The carrying value of receivables and payables approximated their
market value based on their short-term maturities. The investments in marketable debt securities are reported at fair market value as of the balance sheet dates. The fair market value for the zero coupon convertible senior notes was $6,000 and $57.8
million as of December 31, 2007 and 2006, respectively.

21. Financial Instruments

The carrying amount of the Company’s cash and cash equivalents approximates their fair value due to the short maturity of those instruments. The carrying value of receivables and payables approximated their market value based on their short-term maturities. The investments in marketable debt securities are reported at fair market value as of the balance sheet dates. The fair market value for the zero coupon convertible senior notes was $57.8 million and $67.7 million as of December 31, 2006 and 2005, respectively.

19. Financial Instruments

The carrying amount of the Company’s cash and cash equivalents approximates their fair value due to the short maturity of those instruments. The carrying value of receivables and payables approximated their market value based on their short-term maturities. The investments in marketable debt securities are reported at fair market value as of the balance sheet dates. The fair market value for the zero coupon convertible senior notes was $67.7 million and $78.5 million as of December 31, 2005 and 2004, respectively.

F-25

Table of Contents

17. Financial Instruments

The carrying amount of the Company’ s cash and cash equivalents approximates their fair value due to the short maturity of those instruments. The carrying value of receivables and payables approximated their market values based on their short-term maturities. The investments in marketable debt securities are reported at fair market value as of December 31, 2004. The fair market value for the zero coupon convertible senior notes was $78.5 million and $91.2 million as of December 31, 2004 and 2003, respectively.