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These excerpts taken from the TMRK 10-K filed Jun 9, 2009. Fair
value of financial instruments
The Company’s short-term financial instruments, including
cash and cash equivalents, restricted cash, accounts receivable,
prepaid expenses and other assets, accounts payable and other
liabilities, consist primarily of instruments without extended
maturities, the fair value of which, based on management’s
estimates, reasonably approximated their book value. The fair
value of capital lease obligations is based on management
estimates and reasonably approximated their book value after
comparison to obligations with similar interest rates and
maturities. The fair value of the Company’s redeemable
preferred stock is estimated to be its liquidation value, which
includes accumulated and unpaid dividends. The fair value of the
Company’s mortgages payable (see Note 9) and convertible
debt (see Note 10), which are not traded in the market, are
estimated by considering the Company’s credit rating,
current rates available to the Company for similar debt and the
Company’s stock price volatility. The fair value of
mortgage payable and convertible debt as of March 31, 2009
and March 31, 2008 is as follows:
The book value for the Company’s mortgage payable and
convertible debt is net of the unamortized discount to debt
principal. See Notes 9 and 10.
Fair value of financial instruments The Company’s short-term financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and other assets, accounts payable and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on management’s estimates, reasonably approximated their book value. The fair value of capital lease obligations is based on management estimates and reasonably approximated their book value after comparison to obligations with similar interest rates and maturities. The fair value of the Company’s redeemable preferred stock is estimated to be its liquidation value, which includes accumulated and unpaid dividends. The fair value of the Company’s mortgages payable (see Note 9) and convertible debt (see Note 10), which are not traded in the market, are estimated by considering the Company’s credit rating, current rates available to the Company for similar debt and the Company’s stock price volatility. The fair value of mortgage payable and convertible debt as of March 31, 2009 and March 31, 2008 is as follows:
The book value for the Company’s mortgage payable and convertible debt is net of the unamortized discount to debt principal. See Notes 9 and 10. These excerpts taken from the TMRK 10-K filed Jun 16, 2008. Fair
value of financial instruments
The Company estimates the fair value of financial instruments
through the use of public market prices, quotes from financial
institutions, discounted cash flow analyses and other available
information. Judgment is required in interpreting data to
develop estimates of market value and, accordingly, amounts are
not necessarily indicative of the amounts that the Company could
realize in a current market exchange. The Company does not hold
its financial instruments for trading or speculative purposes.
Table of Contents
TERREMARK
WORLDWIDE, INC. AND SUBSIDIARIES
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
The Company’s short-term financial instruments, including
cash and cash equivalents, restricted cash, accounts receivable,
prepaid expenses and other current assets, accounts payable and
other liabilities, consist primarily of instruments without
extended maturities, the fair value of which, based on
management’s estimates, reasonably approximated their book
value. The fair value of capital lease obligations is based on
management estimates and reasonably approximated their book
value due to obligations with similar interest rates and
maturities. The fair value of the Company’s redeemable
preferred stock is estimated to be its liquidation value, which
includes accumulated but unpaid dividends. The fair value of
other financial instruments the Company held for which it is
practicable to estimate such value is as follows:
As of March 31, 2008 and 2007 the fair value of the
Company’s notes payable and convertible debentures was
based on discounted cash flows using a discount rate of
approximately 10% and 13%, respectively. The book value for the
Company’s mortgage payable and notes payable is net of the
unamortized discount to debt principal. See Notes 10 and 13.
Fair value of financial instruments The Company estimates the fair value of financial instruments through the use of public market prices, quotes from financial institutions, discounted cash flow analyses and other available information. Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The Company does not hold its financial instruments for trading or speculative purposes.
Table of ContentsTERREMARK WORLDWIDE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The Company’s short-term financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and other current assets, accounts payable and other liabilities, consist primarily of instruments without extended maturities, the fair value of which, based on management’s estimates, reasonably approximated their book value. The fair value of capital lease obligations is based on management estimates and reasonably approximated their book value due to obligations with similar interest rates and maturities. The fair value of the Company’s redeemable preferred stock is estimated to be its liquidation value, which includes accumulated but unpaid dividends. The fair value of other financial instruments the Company held for which it is practicable to estimate such value is as follows:
As of March 31, 2008 and 2007 the fair value of the Company’s notes payable and convertible debentures was based on discounted cash flows using a discount rate of approximately 10% and 13%, respectively. The book value for the Company’s mortgage payable and notes payable is net of the unamortized discount to debt principal. See Notes 10 and 13. This excerpt taken from the TMRK 10-K filed Jun 15, 2007. Fair
value of financial instruments
The Company estimates the fair value of financial instruments
through the use of public market prices, quotes from financial
institutions, discounted cash flow analyses and other available
information. Judgment is required in
Table of Contents
TERREMARK
WORLDWIDE, INC. AND SUBSIDIARIES
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
interpreting data to develop estimates of market value and,
accordingly, amounts are not necessarily indicative of the
amounts that the Company could realize in a current market
exchange. The Company does not hold its financial instruments
for trading or speculative purposes.
The Company’s short-term financial instruments, including
cash and cash equivalents, accounts receivable, prepaid expenses
and other current assets, accounts payable and other
liabilities, consist primarily of instruments without extended
maturities, the fair value of which, based on management’s
estimates, equaled their book value. The fair value of capital
lease obligations is based on management estimates and equaled
their book value due to obligations with similar interest rates
and maturities. The fair value of the Company’s redeemable
preferred stock is estimated to be its liquidation value, which
includes accumulated but unpaid dividends. The fair value of
other financial instruments the Company held for which it is
practicable to estimate such value is as follows:
As of March 31, 2007 and 2006 the fair value of the
Company’s notes payable and convertible debentures was
based on discounted cash flows using a discount rate of
approximately 13% and 15%, respectively. The book value for the
Company’s mortgage payable and notes payable is net of the
unamortized discount to debt principal. See Notes 10 and 13.
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