|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the VRSN 10-K filed Mar 3, 2009. Restricted Cash
As of December 31, 2008, the Company has $1.9 million classified as restricted cash, of which $0.3 million is pledged as collateral for standby letters of credit guarantee certain of its contractual obligations, primarily relating to its real estate lease agreements, the longest of which is expected to mature in 2010, and $1.6 million represents employee payroll withholdings, net of claims, paid related to the short-term disability program under the State of California Employment Development Department’s Voluntary Plan Fund guidelines.
In 2008, the trust established during 2004 for the Company’s director and officer liability self-insurance coverage was terminated, and as a result, $45.0 million was released from the trust. As of December 31, 2008, the amount is recorded as Cash and cash equivalents as the Company’s ability to use it is no longer restricted.
118
Table of ContentsVERISIGN, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
DECEMBER 31, 2008, 2007 AND 2006
This excerpt taken from the VRSN 10-Q filed Nov 7, 2008. Restricted Cash In September 2008, the trust established during 2004 for the Company’s director and officer liability self-insurance coverage was terminated, and as a result $45.0 million was released from the trust. As of September 30, 2008, the amount is recorded as Cash and cash equivalents as the Company’s ability to use it is no longer restricted. As of September 30, 2008, the Company has $2.1 million classified as restricted cash, of which $0.5 million is pledged as collateral for standby letters of credit that guarantee certain of its contractual obligations relating to its real estate lease agreements, and $1.6 million represents employee payroll withholdings, net of claims, paid related to the short-term disability program under the State of California Employment Development Department’s Voluntary Plan Fund guidelines.
21
Table of ContentsThis excerpt taken from the VRSN 10-Q filed Nov 9, 2005. Note 7. Restricted Cash
Restricted cash includes $45.0 million of cash related to a trust established during the first quarter of 2004 for VeriSign’s director and officer liability self-insurance coverage. Additionally, as of September 30, 2005 and December 31, 2004, VeriSign has pledged approximately $6.0 million and $6.5 million, respectively, classified as restricted cash on the accompanying balance sheets. This cash serves as collateral for letters of credit that guarantee certain of its contractual obligations, primarily relating to its real estate lease agreements, the longest of which is expected to mature in 2014.
This excerpt taken from the VRSN 10-K filed Mar 16, 2005. Restricted Cash
As of December 31, 2004, restricted cash includes $45.0 million of cash related to a trust established during the first quarter of 2004 for VeriSign’s director and officer liability self-insurance coverage. As of December 31, 2004 and December 31, 2003, VeriSign has pledged approximately $6.5 million and $18.4 million, respectively,
109
Table of ContentsVERISIGN, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
DECEMBER 31, 2004, 2003 AND 2002
classified as restricted cash on the accompanying balance sheets, as collateral for standby letters of credit that guarantee certain of its contractual obligations, primarily relating to its real estate lease agreements, the longest of which is expected to mature in 2014.
| EXCERPTS ON THIS PAGE:
|
| |||||||
