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The new guidance was effective for fiscal years, and interim periods within those years, beginning after
December 15, 2012. The Company adopted this guidance at the beginning of its first quarter of 2014 and
it did not have a material impact on the Company’s consolidated financial statements or disclosures.
Recent Accounting Pronouncements Not Yet Adopted
In April 2014, the FASB issued guidance that changed the criteria for reporting discontinued operations,
as well as requiring new disclosures about discontinued operations and disposals of components of an
entity that do not qualify for discontinued operations reporting. This guidance is effective for fiscal years
beginning after December 15, 2014, with early adoption permitted for disposals that have not been
reported in financial statements previously issued. The Company will adopt this guidance at the beginning
of its first quarter of fiscal year 2016. Adoption of this guidance is not expected to have a material impact
on the Company’s consolidated financial statements or disclosures.
In May 2014, the FASB issued a new standard on the recognition of revenue from contracts with
customers. The issued guidance converges the criteria for reporting revenue, as well as requiring
disclosures sufficient to describe the nature, amount, timing, and uncertainty of revenue and cash flows
arising from these contracts. Companies can transition to the standard either retrospectively or as a
cumulative effect adjustment as of the date of adoption. The new standard is effective for fiscal years, and
interim periods within those years, beginning after December 15, 2016. The Company plans to adopt this
guidance at the beginning of its first quarter of fiscal year 2018. The Company is evaluating the impact of
this standard on its consolidated financial statements and disclosures.
Note 2—Investments
The Company’s investments at the end of 2014 and 2013 were as follows:
2014:
Cost
Basis Unrealized
Gains, Net Recorded
Basis
A
vailable-for-sale:
Government and agency securities .............................................................
.
$1,404
$ 1
$1,405
Asset and mortgage-backed securities .......................................................
.
4
0
4
Total available-for-sale ............................................................................
.
1,408
1
1,409
Held-to-maturity:
Certificates of deposit .....................................................................................
.
155
155
Bankers' acceptances ....................................................................................
.
13
13
Total held-to-maturit
y
...............................................................................
.
168
168
Total short-term investments ..................................................................
.
$
1,576
$ 1
$
1,577
2013:
Cost
Basis Unrealized
Gains, Net Recorded
Basis
A
vailable-for-sale:
Government and agency securities .............................................................
.
$
1,263
$ 0
$
1,263
Corporate notes and bonds ...........................................................................
.
9
0
9
Asset and mortgage-backed securities .......................................................
.
5
0
5
Total available-for-sale ............................................................................
.
1,277
0
1,277
Held-to-maturity:
Certificates of deposit .....................................................................................
.
124
124
Bankers' acceptances ....................................................................................
.
79
79
Total held-to-maturit
y
...............................................................................
.
203
203
Total short-term investments ..................................................................
.
$
1,480
$ 0
$
1,480
55