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This excerpt taken from the DIS 10-K filed Nov 21, 2007. EITF D-108 In September 2004, the Emerging Issues Task Force (EITF) issued Topic No. D-108, Use of the Residual Method to Value Acquired Assets Other than Goodwill (EITF D-108). EITF D-108 requires that a direct value method be used to value intangible assets acquired in business combinations completed after September 29, 2004. EITF D-108 also requires the Company to perform an impairment test using a direct value method on all intangible assets that were previously valued using the residual method. Any impairments arising from the initial application of a direct value method are reported as a cumulative effect of accounting change. For radio station acquisitions subsequent to the acquisition of Capital Cities/ABC, Inc. in 1996, the Company applied the residual value method to value the acquired FCC licenses. The Company adopted EITF D-108 for the fiscal year ended October 1, 2005 and recorded a non-cash $57 million pre-tax charge ($36 million after-tax) as a cumulative effect of accounting change. This excerpt taken from the DIS 10-K filed Nov 22, 2006. EITF D-108 In September 2004, the Emerging Issues Task Force (EITF) issued Topic No. D-108, Use of the Residual Method to Value Acquired Assets Other than Goodwill (EITF D-108). EITF D-108 requires that a direct value method be used to value intangible assets acquired in business combinations completed after September 29, 2004. EITF D-108 also requires the Company to perform an impairment test using a direct value method on all intangible assets that were previously valued using the residual method. Any impairments arising from the initial application of a direct value method are reported as a cumulative effect of accounting change. For radio station acquisitions subsequent to the acquisition of Capital Cities/ABC, Inc. in 1996, the Company applied the residual value method to value the acquired FCC licenses. We adopted EITF D-108 for the fiscal year ended October 1, 2005 and recorded a non-cash, $57 million pre-tax charge ($36 million after-tax) as a cumulative effect of accounting change. This excerpt taken from the DIS 10-K filed Dec 7, 2005. EITF D-108
In September 2004, the Emerging Issues Task Force
(EITF) issued Topic No. D-108 Use of the Residual Method
to Value Acquired Assets Other than Goodwill
(EITF D-108). EITF D-108 requires that a direct value
method be used to value intangible assets acquired in business
combinations completed after September 29, 2004.
EITF D-108 also requires the Company to perform an
impairment test using a direct value method on all intangible
assets that were previously valued using the residual method.
Any impairments arising from the initial application of a direct
value method are reported as a cumulative effect of accounting
change. For radio station acquisitions subsequent to the
acquisition of Capital Cities/ABC, Inc. in 1996, the Company
applied the residual value method to value the acquired FCC
licenses. We adopted EITF D-108 for the fiscal year ended
October 1, 2005 and recorded a non-cash, $57 million
pre-tax charge ($36 million after-tax) as a cumulative
effect of accounting change.
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