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These excerpts taken from the WDC 10-K filed Aug 20, 2008. Goodwill
and Other Intangible Assets
In accordance with SFAS No. 141, “Business
Combinations” (“SFAS 141”), the total
purchase price in a business combination is allocated to the
fair value of assets acquired and liabilities assumed based on
their fair values at the acquisition date, with amounts
exceeding the fair values being recorded as goodwill. In
accordance with SFAS No. 142, “Goodwill and Other
Intangible Assets” (“SFAS 142”), goodwill is
not amortized. Instead, it is tested for impairment on an annual
basis or more frequently whenever events or changes in
circumstances indicate that goodwill may be impaired. The
Company did not record any impairment of goodwill during 2008.
Other intangible assets consist primarily of purchased
technology and customer relationships acquired in an
acquisition. Acquired intangibles are amortized on a
straight-line basis over their respective estimated useful lives
included in Note 12. In accordance with SFAS No. 144,
“Accounting for the Impairment or Disposal of Long-Lived
Assets”, long-lived assets are tested for recoverability
whenever events or changes in circumstances indicate that their
carrying amounts may not be recoverable. The Company did not
record any impairment of long-lived assets during 2008.
Table of Contents
WESTERN
DIGITAL CORPORATION
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
Goodwill and Other Intangible Assets In accordance with SFAS No. 141, “Business Combinations” (“SFAS 141”), the total purchase price in a business combination is allocated to the fair value of assets acquired and liabilities assumed based on their fair values at the acquisition date, with amounts exceeding the fair values being recorded as goodwill. In accordance with SFAS No. 142, “Goodwill and Other Intangible Assets” (“SFAS 142”), goodwill is not amortized. Instead, it is tested for impairment on an annual basis or more frequently whenever events or changes in circumstances indicate that goodwill may be impaired. The Company did not record any impairment of goodwill during 2008. Other intangible assets consist primarily of purchased technology and customer relationships acquired in an acquisition. Acquired intangibles are amortized on a straight-line basis over their respective estimated useful lives included in Note 12. In accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”, long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. The Company did not record any impairment of long-lived assets during 2008.
Table of ContentsWESTERN DIGITAL CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) | EXCERPTS ON THIS PAGE:
RELATED TOPICS for WDC: |
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