Support.com 2009 Annual Report Download - page 58

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Table of Contents
SUPPORT.COM, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
In accordance with ASC 820, the following table represents our fair value hierarchy for our financial assets (cash equivalents and investments) and the
UBS put contract measured at fair value on a recurring basis as of December 31, 2009 and 2008 (in thousands):
Level 1 Level 2 Level 3 Total
As of December 31, 2009
Money market funds $ 21,318 $ — $ — $ 21,318
Agency bonds — 3,501 3,501
Commercial paper — 7,896 — 7,896
Corporate bonds — 12,404 — 12,404
Corporate notes — 8,276 — 8,276
U.S. Government Agency Securities — 4,000 — 4,000
Auction-rate securities — — 22,655 22,655
Auction-rate securities put option — — 1,289 1,289
Total $ 21,318 $ 36,077 $ 23,944 $ 81,339
Level 1 Level 2 Level 3 Total
As of December 31, 2008
Money market funds $ 55,0582 $ — $ — $ 55,058
Commercial paper — 7,781 — 7,781
Corporate bonds — 2,999 — 2,999
Auction-rate securities — — 15,766 15,766
Auction-rate securities put option — — 7,148 7,148
Total $ 55,058 $ 10,780 $ 22,914 $ 88,752
Level 3 assets consist of ARS with various state student loan authorities and the ARS put option. Beginning in February 2008, all auctions for the ARS
have failed. Based on the continued failure of these auctions and the underlying maturities of the securities, we continue to classify our non-UBS holdings as
long-term assets. Based on our ability to exercise the UBS ARS put option beginning June 30, 2010, we have classified our UBS ARS holdings as current assets
on our balance sheet. The fair value of the ARS as of December 31, 2009 was estimated by management.
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Source: Support.com, Inc., 10-K, March 12, 2010 Powered by Morningstar® Document Research℠