Google 2009 Annual Report Download - page 99

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Google Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
We classify our cash equivalents and marketable securities within Level 1 or Level 2. This is because we value
our cash equivalents and marketable securities using quoted market prices or alternative pricing sources and
models utilizing market observable inputs. We classify our investments in ARS within Level 3 because they are
valued using valuation techniques (see Note 3). Some of the inputs to these models are unobservable in the
market and are significant. We classify our foreign currency derivative contracts within Level 2 as the valuation
inputs are based on quoted prices and market observable data of similar instruments.
Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):
Fair value measurement at reporting date using
Description
As of
December 31,
2008
Quoted Prices in Active
Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Assets
Cash equivalents:
Municipal securities ...... $ 14,250 $ — $ 14,250 $ —
Time deposits ........... 3,015,557 — 3,015,557 —
Money market mutual
funds ................ 2,296,207 2,296,207 — —
Marketable securities:
U.S. government
agencies ............. 3,342,406 — 3,342,406 —
Municipal securities ...... 2,721,603 — 2,721,603 —
Money market mutual
funds ................ 73,034 — 73,034 —
Corporate debt
securities ............ 907,056 — 907,056 —
Marketable equity
security .............. 145,000 145,000 — —
Foreign currency derivative
contracts ................. 464,993 — 464,993 —
Auction rate securities ........ 197,361 — — 197,361
Total ....................... $13,177,467 $ 2,441,207 $10,538,899 $197,361
Liabilities
Foreign currency
derivative contracts . . . $ 877 $ — $ 877 $ —
Total ....................... $ 877 $ — $ 877 $ —
81