US Cellular 2009 Annual Report Download - page 59

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UNITED STATES CELLULAR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 3 FAIR VALUE MEASUREMENTS (Continued)
respective dates. For Licenses recorded at fair value, the following table provides information regarding
their classification in the fair value hierarchy:
Fair Value Measurements Using
Quoted Prices in Significant
Active Markets for Other Significant
December 31, Identical Assets Observable Unobservable Total
Description 2009 (Level 1) Inputs (Level 2) Inputs (Level 3) (Losses)(1)
(Dollars in thousands)
Licenses recorded at fair
value ................ $ 57,000 $— $— $ 57,000 $ (14,000)
Fair Value Measurements Using
Quoted Prices in Significant
Active Markets for Other Significant
December 31, Identical Assets Observable Unobservable Total
Description 2008 (Level 1) Inputs (Level 2) Inputs (Level 3) (Losses)(1)
(Dollars in thousands)
Licenses recorded at fair
value ................ $1,022,556 $— $— $1,022,556 $(386,653)
(1) These losses represent the excess carrying value of the Licenses over their estimated fair values at
the respective impairment testing dates in the fourth quarters of 2009 and 2008. Such amounts are
recorded as Loss on impairment of intangible assets in the Consolidated Statement of Operations.
See Note 1—Summary of Significant Accounting Policies and Recent Accounting Pronouncements for
information regarding the methods and assumptions used to estimate the fair values for Licenses and a
description of the levels in the fair value hierarchy.
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