SYMC » Topics » Impairment of assets

This excerpt taken from the SYMC 10-Q filed Nov 7, 2008.
Impairment of assets
 
                                                                 
    Three Months Ended     Six Months Ended  
    October 3,
    September 28,
    Change in     October 3,
    September 28,
    Change in  
    2008     2007     $     %     2008     2007     $     %  
    ($ in thousands)  
 
Impairment of assets
  $ 26,204     $ 86,546     $ (60,342 )     (70 )%   $ 26,204     $ 86,546     $ (60,342 )     (70 )%
Percentage of total net revenues
    2 %     6 %                     1 %     3 %                
 
During the three months ended October 3, 2008, we recognized an impairment of $26 million on certain land and buildings classified as held for sale. SFAS No. 144 provides that a long-lived asset classified as held for sale should be measured at the lower of its carrying amount or fair value less cost to sell.
 
During the three months ended September 28, 2007, we determined that the APM business in the Storage and Server Management segment (formerly the Data Center Management segment) did not meet the long-term strategic objectives of the segment. As a result, we recognized losses related to the impairment of assets of $87 million.


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