Earthlink 2003 Annual Report Download - page 35

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41
The following table presents the amounts of our cash equivalents and short- and long-term investments that are subject to market risk by
range of expected maturity and weighted-average interest rates as of December 31, 2002 and 2003. This table does not include money market
funds because those funds are not subject to market risk.
Item 8. Financial Statements And Supplementary Data.
The information required by this item appears in a subsequent section of this Report. See Index to Consolidated Financial Statements on
page F-1.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9a. Controls and Procedures.
Evaluation of Disclosure Controls and Procedures
Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934, EarthLink carried out an evaluation, with the participation of
EarthLink's management, including EarthLink's Chief Executive Officer and Chief Financial Officer, of the effectiveness of EarthLink's
disclosure controls and procedures (as defined under Rule 13a-15(e) under the Securities Exchange Act of 1934) as of the end of the period
covered by this report. Based upon that evaluation, EarthLink's Chief Executive Officer and Chief Financial Officer concluded that EarthLink's
disclosure controls and procedures are effective in timely alerting them to material information relating to EarthLink (including its consolidated
subsidiaries) required to be included in EarthLink's periodic filings with the Securities and Exchange Commission.
Amortized
Cost
Estimated
Fair
Value
Amortized
Cost
Estimated
Fair
Value
(in thousands)
Asset
-
backed securities
$
232,521
$
232,643
$
165,237
$
165,147
U.S. corporate notes
109,993
110,414
92,656
92,623
Government agency notes
1,502
1,490
23,349
23,355
Commercial paper
13,475
13,475
15,787
15,787
$
357,491
$
358,022
$
297,029
$
296,912
As of December 31, 2002
As of December 31, 2003
Cost
Estimated
Fair
Value
Cost
Estimated
Fair
Value
(dollars in thousands)
Included in cash and cash equivalents
$
224,650
$
224,650
$
158,787
$
158,787
Weighted average interest rate
1.6
%
1.2
%
Weighted average maturity (mos.)
0.4
0.7
Included in marketable securities
-
current
$
108,471
$
108,978
$
89,205
$
89,088
Weighted average interest rate
3.0
%
1.7
%
Weighted average maturity (mos.)
6.1
6.7
Included in marketable securities
-
long
-
term
$
24,370
$
24,394
$
49,037
$
49,037
Weighted average interest rate
2.5
%
1.7
%
Weighted average maturity (mos.)
14.2
14.1