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These excerpts taken from the SWSI 10-K filed Mar 13, 2009. Fair
Value of Financial Instruments
In February 2007, the FASB issued SFAS No. 159,
“The Fair Value Option for Financial Assets and
Financial Liabilities — Including an amendment of FASB
Statement No. 115” (SFAS 159). This statement
permits entities to measure eligible assets and liabilities at
fair value. Unrealized gains and losses on items for which the
fair value option has been elected are reported in earnings. We
adopted SFAS 159 on January 1, 2008 and did not elect
to apply the fair value method to any eligible assets or
liabilities at that time.
In September 2006, the FASB issued SFAS No. 157,
“Fair Value Measurements,”
(SFAS 157) which is intended to increase
consistency and comparability in fair value measurements by
defining fair value, establishing a framework for measuring fair
value, and expanding disclosures about fair value measurements.
This statement applies to other accounting pronouncements that
require or permit fair value measurements and is effective for
financial statements issued for fiscal years beginning after
November 15, 2007 and interim periods within those fiscal
years. On January 1, 2008, we adopted, without material
impact on our consolidated financial statements, the provisions
of SFAS 157 related to financial assets and liabilities.
SFAS 157 requires disclosure about how fair value is
determined for assets and liabilities and establishes a
hierarchy for which these assets and liabilities must be
grouped, based on significant levels of inputs as follows:
The determination of where assets and liabilities fall within
this hierarchy is based upon the lowest level of input that is
significant to the fair value measurement.
Superior’s financial instruments are not held for trading
purposes.
Fair Value of Financial Instruments In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities — Including an amendment of FASB Statement No. 115” (SFAS 159). This statement permits entities to measure eligible assets and liabilities at fair value. Unrealized gains and losses on items for which the fair value option has been elected are reported in earnings. We adopted SFAS 159 on January 1, 2008 and did not elect to apply the fair value method to any eligible assets or liabilities at that time. In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” (SFAS 157) which is intended to increase consistency and comparability in fair value measurements by defining fair value, establishing a framework for measuring fair value, and expanding disclosures about fair value measurements. This statement applies to other accounting pronouncements that require or permit fair value measurements and is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. On January 1, 2008, we adopted, without material impact on our consolidated financial statements, the provisions of SFAS 157 related to financial assets and liabilities. SFAS 157 requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:
The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Superior’s financial instruments are not held for trading purposes. This excerpt taken from the SWSI 8-K filed Dec 15, 2008. Fair
Value of Financial Instruments
Superior’s financial instruments consist primarily of cash
and cash equivalents, accounts receivable, accounts payable,
notes payable and long term debt. The carrying amount of cash
and cash equivalents, accounts receivable and accounts payable
approximate their fair value due to the short-term nature of
such instruments. The carrying value of notes payable and
long-term debt approximates fair value, since the interest rates
are market-based and are generally adjusted periodically.
Superior’s financial instruments are not held for trading
purposes.
These excerpts taken from the SWSI 10-K filed Mar 11, 2008. Fair
Value of Financial Instruments
Superior’s financial instruments consist primarily of cash
and cash equivalents, accounts receivable, accounts payable,
notes payable and long term debt. The carrying amount of cash
and cash equivalents, accounts receivable and accounts payable
approximate their fair value due to the short-term nature of
such instruments. The carrying value of notes payable and
long-term debt approximates fair value, since the interest rates
are market-based and are generally adjusted periodically.
Superior’s financial instruments are not held for trading
purposes.
Fair Value of Financial Instruments Superior’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, notes payable and long term debt. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term nature of such instruments. The carrying value of notes payable and long-term debt approximates fair value, since the interest rates are market-based and are generally adjusted periodically. Superior’s financial instruments are not held for trading purposes. This excerpt taken from the SWSI 10-K filed Jun 26, 2007. Fair
Value of Financial Instruments
Superior’s financial instruments consist primarily of cash
and cash equivalents, accounts receivable, accounts payable and
notes payable. The carrying amount of cash and cash equivalents,
accounts receivable and accounts payable approximate their fair
value due to the short-term nature of such instruments. The
carrying value of notes payable and long-term debt approximates
fair value, since the interest rates are market-based and are
generally adjusted periodically.
Additionally, interest rate swaps are recorded at fair value in
accordance with Statement of Financial Accounting Standards
(SFAS) No. 133.
Superior’s financial instruments are not held for trading
purposes.
This excerpt taken from the SWSI 10-K filed Mar 9, 2007. Fair
Value of Financial Instruments
Superior’s financial instruments consist primarily of cash
and cash equivalents, accounts receivable, accounts payable and
notes payable. The carrying amount of cash and cash equivalents,
accounts receivable and accounts payable approximate their fair
value due to the short-term nature of such instruments. The
carrying value of notes payable and long-term debt approximates
fair value, since the interest rates are market-based and are
generally adjusted periodically.
Additionally, interest rate swaps are recorded at fair value in
accordance with Statement of Financial Accounting Standards
(SFAS) No. 133.
Superior’s financial instruments are not held for trading
purposes.
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