8x8 2009 Annual Report Download - page 55

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classification at each reporting date. The cost of the Company's investments is determined based upon specific identification.
The Company’ s investments are comprised of corporate debt, federal agency securities and money market funds. At March 31,
2009 and 2008, all investments were classified as available-for-sale and reported at fair value, based upon quoted market
prices, with unrealized gains and losses, net of related tax, if any, included in other comprehensive loss and disclosed as a
separate component of stockholders’ equity. Realized gains and losses on sales of all such investments are reported within the
caption of other income, net in the statements of operations and computed using the specific identification method. The
Company’ s investments in marketable securities are monitored on a periodic basis for impairment. In the event that the
carrying value of an investment exceeds its fair value and the decline in value is determined to be other-than-temporary, an
impairment charge is recorded and a new cost basis for the investment is established.
Available-for-sale investments were (in thousands):
Gross
Amortized Unrealized Estimated
As of March 31, 2009 Costs Loss Fair Value
Money market funds $ 15,466 $ - $ 15,466
Total available-for-sale investments $ 15,466 $ - $ 15,466
Reported as (in thousands):
Cash and cash equivalents $ 15,466
Tota
l
$ 15,466
Gross
Amortized Unrealized Estimated
As of March 31, 2008 Costs Gain / (Loss) Fair Value
Money market funds $ 8,775 $ - $ 8,775
Corporate deb
t
2,583 (1) 2,582
Federal agency securities 794 6 800
Total available-for-sale investments $ 12,152 $ 5 $ 12,157
Reported as (in thousands):
Cash and cash equivalents $ 8,775
Short-term investments 3,382
Total $ 12,157
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