YHOO » Topics » Other Income, Net.

This excerpt taken from the YHOO 10-Q filed May 8, 2009.

Note 6 OTHER INCOME, NET

Other income, net is comprised of (in thousands):

 

     Three Months Ended  
     March 31,
2008
    March 31,
2009
 

Interest and investment income

   $ 23,167     $ 6,848  

Investment (losses) gains, net

     (2,210 )     90  

Other

     (6,292 )     (1,978 )
                

Total other income, net

   $ 14,665     $ 4,960  
                

Interest and investment income consist of income earned from cash in bank accounts and investments made in marketable debt securities and money market funds.

Investment (losses) gains, net includes realized gains and losses related to sales of marketable debt securities and/or investments in publicly traded or privately held companies.

Other consists mainly of imputed interest related to the adoption of FSP APB 14-1 “Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement)” (“FSP APB 14-1”) and foreign exchange gains and losses due to re-measurement of assets and liabilities denominated in non-functional currencies. See Note 8 — “Debt” for additional information related to the adoption of FSP APB 14-1.

These excerpts taken from the YHOO 10-K filed Feb 27, 2009.

Other income, net

Other income, net for 2006, 2007, and 2008 were as follows (in thousands):

 

     Years Ended December 31,  
   2006     2007    2008  

Interest and investment income

   $ 143,310     $ 129,541    $ 86,056  

Investment gains, net

     (3,527 )     1,730      (351 )

Gain on divestiture of Yahoo! China(*)

     15,158       8,066      —    

Gain on sale of Overture Japan(*)

     —         6,175      —    

Gain on sale of Kelkoo SAS

     —         —        25,149  

Other

     2,093       8,499      (28,016 )
                       

Total other income, net

   $  157,034     $  154,011    $    82,838  
                       

 

(*) See Note 4—“Investments in Equity Interests” for additional information related to the gains on the divestiture of Yahoo! China and sale of Overture Japan.

Interest and investment income consist of income earned from cash in bank accounts and investments made in marketable debt securities and money market funds.

Investment gains (losses), net includes realized gains and losses related to sales of marketable debt securities and/or investments in publicly traded or privately held companies as well as any declines in the values of such investments judged to be other-than-temporary.

During the year ended December 31, 2008, the Company completed the sale of Kelkoo SAS and recorded a pre-tax gain of approximately $25 million in other income, net. The transaction was accounted for as a sale of a business.

 

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Notes to Consolidated Financial Statements—(Continued)

 

Other consists mainly of foreign exchange gains and losses due to re-measurement of assets and liabilities denominated in non-functional currencies.

Other income, net

Other income, net for 2006, 2007, and 2008 were as follows (in thousands):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 




















































































































































   Years Ended December 31, 
  2006  2007  2008 

Interest and investment income

  $143,310  $129,541  $86,056 

Investment gains, net

   (3,527)  1,730   (351)

Gain on divestiture of Yahoo! China(*)

   15,158   8,066   —   

Gain on sale of Overture Japan(*)

   —     6,175   —   

Gain on sale of Kelkoo SAS

   —     —     25,149 

Other

   2,093   8,499   (28,016)
             

Total other income, net

  $ 157,034  $ 154,011  $   82,838 
             

 





(*)See Note 4—“Investments in Equity Interests” for additional information related to the gains on the divestiture of Yahoo! China and sale of Overture Japan.

Interest and investment income consist of income earned from cash in bank accounts and investments made in marketable debt securities and
money market funds.

Investment gains (losses), net includes realized gains and losses related to sales of marketable debt securities and/or investments in
publicly traded or privately held companies as well as any declines in the values of such investments judged to be other-than-temporary.

During the year
ended December 31, 2008, the Company completed the sale of Kelkoo SAS and recorded a pre-tax gain of approximately $25 million in other income, net. The transaction was accounted for as a sale of a business.

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FACE="Times New Roman" SIZE="2">Notes to Consolidated Financial Statements—(Continued)

 


Other consists mainly of foreign exchange gains and losses due to re-measurement of assets and liabilities
denominated in non-functional currencies.

These excerpts taken from the YHOO 10-K filed Feb 27, 2008.
Other income, net
 
 
Other income, net for 2005, 2006, and 2007 was as follows (in thousands):
 
                         
    Years Ended December 31,  
    2005     2006     2007  
 
Interest and investment income
  $ 125,122     $ 143,310     $ 129,541  
Investment gains (losses), net(1)
    967,327       (3,527 )     1,730  
Gains on divestiture of Yahoo! China(2)
    337,965       15,158       8,066  
Gains on sale of Overture Japan(2)
                6,175  
Other
    5,443       2,093       8,499  
                         
Total other income, net
  $ 1,435,857     $ 157,034     $ 154,011  
                         
 
   (1)  See Note 14 — “Litigation Settlement” for additional information related to the investment gains in the year ended December 31, 2005. An impairment loss of $28 million was also recorded on an available-for-sale equity investment in the year ended December 31, 2005.
 
   (2)  See Note 4 — “Investments in Equity Interests” for additional information related to the gains on the divestiture of Yahoo! China and Overture Japan.
 
Investment gains (losses), net include realized investment gains, realized investment losses, and impairment charges related to declines in values of publicly traded securities and securities of privately held companies judged to be other than temporary.
 
Other
income, net



 


 



Other income, net for 2005, 2006, and 2007 was as follows
(in thousands):


 

































































































































































                         

 

 

Years Ended December 31,

 

 

 

2005

 

 

2006

 

 

2007

 
 


Interest and investment income


 

$

125,122

 

 

$

143,310

 

 

$

129,541

 


Investment gains (losses),
net(1)


 

 

967,327

 

 

 

(3,527

)

 

 

1,730

 


Gains on divestiture of Yahoo!
China(2)


 

 

337,965

 

 

 

15,158

 

 

 

8,066

 


Gains on sale of Overture
Japan(2)


 

 



 

 

 



 

 

 

6,175

 


Other


 

 

5,443

 

 

 

2,093

 

 

 

8,499

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total other income, net


 

$

1,435,857

 

 

$

157,034

 

 

$

154,011

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 


























   (1) 

See Note 14 — “Litigation Settlement”
for additional information related to the investment gains in
the year ended December 31, 2005. An impairment loss of
$28 million was also recorded on an available-for-sale
equity investment in the year ended December 31, 2005.
 
   (2) 

See Note 4 — “Investments in Equity
Interests” for additional information related to the gains
on the divestiture of Yahoo! China and Overture Japan.


 



Investment gains (losses), net include realized investment
gains, realized investment losses, and impairment charges
related to declines in values of publicly traded securities and
securities of privately held companies judged to be other than
temporary.


 




This excerpt taken from the YHOO 10-K filed Feb 23, 2007.
Other income, net
 
Other income, net for 2004, 2005, and 2006 was as follows (in thousands):
 
                         
    Years Ended December 31,  
    2004     2005     2006  
 
Interest and investment income
  $ 60,830     $ 125,122     $ 143,310  
Investment gains (losses), net(1)
    415,125       967,327       (3,527 )
Gains on divestiture of Yahoo! China(2)
          337,965       15,158  
Other
    20,488       5,443       2,093  
                         
Total other income, net
  $ 496,443     $ 1,435,857     $ 157,034  
                         
 
   (1)  See Note 14 — “Litigation Settlement” for additional information related to the investment gains in the years ended December 31, 2004 and 2005. An impairment loss of $28 million was also recorded on an available-for-sale equity investment in the year ended December 31, 2005.
 
   (2)  See Note 4 — “Investments in Equity Interests” for additional information related to the gains on the divestiture of Yahoo! China for the years ended December 31, 2005 and 2006.
 
Investment gains (losses), net include realized investment gains, realized investment losses, and impairment charges related to declines in values of publicly traded securities and securities of privately held companies judged to be other than temporary.
 
This excerpt taken from the YHOO 10-Q filed May 5, 2006.
Other Income, Net.  Other income, net was as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2005

 

2006

 

 

 

 

 

 

 

Interest and investment income

 

$

23,772

 

$

35,477

 

Investment gains (losses), net

 

19,134

 

771

 

Other

 

7,088

 

(812

)

Total other income, net

 

$

49,994

 

$

35,436

 

 

Other income, net decreased in the first quarter of 2006, compared to the same period in 2005 due to investments gains of $19 million from sales of non-strategic marketable equity securities recorded in the first quarter of 2005 with no comparable transactions during the first quarter of 2006.  The decrease in investment gains in the first quarter of 2006 was partially offset by the increase in interest and investment income as a result of larger average invested balances and higher average interest rates.  Average interest rates were approximately 3.6 percent in the first quarter of 2006, compared to 2.5 percent in the same period of 2005.  Other income, net may fluctuate in future periods due to realized gains and losses on investments, impairments of investments, changes in our average investment balances, and changes in interest and foreign exchange rates.

 

This excerpt taken from the YHOO 10-K filed Mar 3, 2006.
Other income, net for 2003, 2004, and 2005 was as follows (in thousands):

 

Years Ended December 31,

 

 

 

2003

 

2004

 

2005

 

Interest and investment income

 

$47,202

 

$60,830

 

$125,122

 

Investment gains (losses), net (1)

 

(1,223)

 

415,125

 

967,327

 

Gain on divestiture of Yahoo! China (2)

 

 

 

337,965

 

Other

 

1,527

 

20,488

 

5,443

 

Total other income, net

 

$47,506

 

$

496,443

 

$

1,435,857

 

 

(1)        See Note 14 — “Litigation Settlement” for additional information related to the investment gains in the years ended December 31, 2004 and 2005.  Also included is an impairment loss of $28 million on an available-for-sale equity investment in the year ended December 31, 2005.

(2)        See Note 4 — “Investments in Equity Interests” for additional information related to the gain on the divestiture of Yahoo! China for the year ended December 31, 2005.

Investment gains (losses), net include realized investment gains, realized investment losses, and impairment charges related to declines in values of publicly traded securities and securities of privately held companies judged to be other than temporary.

This excerpt taken from the YHOO 10-Q filed Nov 4, 2005.
Other Income, Net.  Other income, net was as follows (in thousands):

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2004

 

2005

 

2004

 

2005

 

 

 

 

 

 

 

 

 

 

 

Interest and investment income

 

$14,962

 

$37,676

 

$40,978

 

$88,548

 

Investment gains (losses), net

 

110,268

 

26,948

 

107,780

 

995,231

 

Other

 

(1,949

)

1,371

 

2,080

 

11,946

 

Total other income, net

 

$123,281

 

$65,995

 

$150,838

 

$1,095,725

 

 

Other income increased due to sales of non-strategic marketable equity security investments which generated investment gains of $105 million in the three and nine months ended September 30, 2004 and $27 million and $987 million for the three and nine months ended September 30, 2005.  In addition, interest and investment income earned in both the three and nine months ended September 30, 2005 was higher than the income during the same periods in 2004 as a result of larger invested balances, as well as higher yields on our investment portfolio.

 

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