eFax 2009 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2009 eFax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 78

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

The following tables present the fair values of our financial instruments that are measured at fair value on a recurring basis (in thousands):
The following table provides a summary of changes in fair value of our Level 3 financial assets as of December 31, 2009 (in thousands):
Losses associated with other-than-
temporary impairments are recorded as a component of other income. Gains and losses not associated
with other-than-temporary impairments are recorded as a component of other comprehensive income.
6. Property and Equipment
Property and equipment, stated at cost, at December 31, 2009 and 2008 consisted of the following (in thousands):
December 31, 2009
Level 1
Level 2
Level 3
Fair Value
Cash equivalents, short-term investments and other debt
securities
$
241,898
$
—
$
—
$
241,898
Auction rate securities
—
—
1,781
1,781
Total
$
241,898
$
—
$
1,781
$
243,679
December 31, 2008
Level 1
Level 2
Level 3
Fair Value
Cash equivalents, short
-
term investments and other debt
securities
$
150,974
$
—
$
—
$
150,974
Total
$
150,974
$
—
$
—
$
150,974
Level 3 Financial
Assets
Year Ended
December 31,
2009
Beginning Balance
$
—
Total gains (losses)
-
realized/unrealized
Included in earnings (other than temporary impairment)
(9,343)
Not included in earnings
1,053
Purchases, issuances and settlements
—
Sales
(1,117)
Transfers in and/or out of Level 3
11,188
Balance, December 31, 2009
$
1,781
Total losses for the period included in earnings relating to assets
still held at December 31, 2009
$
(5,419)
2009
2008
Computers and related equipment
$
38,980
$
51,465
Furniture and equipment
714
1,221
Capital leases
—
569
Leasehold improvements
2,964
2,962
42,658
56,217
Less: Accumulated depreciation and amortization
(29,292
)
(37,279
)
Total property and equipment, net
$
13,366
$
18,938
-
50
-