eTrade 2002 Annual Report Download - page 137
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Table of Contents
Index to Financial Statements
December 31,
2002 2001
Balance sheet data:
Cash $ 13,480 $ 1,458
Investments (at estimated fair market value) 37,746 57,382
Other assets 3,058 167
Total assets $ 54,284 $ 59,007
Accrued management fees $ 4,332 $ 6,427
Other liabilities 31 70
Partners’ capital—E*TRADE 7,808 7,907
Partners’ capital—other limited 42,113 44,603
Total liabilities and partners’ capital $ 54,284 $ 59,007
The Company also has limited partnership interests in two other unrelated venture capital funds, one of which is sponsored by SOFTBANK
Corp. At December 31, 2002, the Company had funding commitments to these funds totaling $3.6 million.
Other Investments
The Company has also made investments in non-public, venture capital-backed high technology companies. These investments represent less
than 20% of the outstanding shares of these companies and are accounted for under the cost method. The Company recorded impairment write
downs of $12.5 million for fiscal 2002 and $0.5million for fiscal 2001, associated with privately-held equity investments. These impairment
write downs are recorded in loss on investments in the accompanying consolidated statements of operations.
8. PROPERTY AND EQUIPMENT, NET
Property and equipment, net consists of the following (in thousands):
December31,
2002 2001
Equipment and transportation $ 210,308 $ 194,542
Software 300,304 245,693
Leasehold improvements 109,794 96,244
Buildings 73,827 17,187
Land 8,097 15,501
Furniture and fixtures 8,786 10,098
711,116 579,265
Less accumulated depreciation and amortization (340,172 ) (247,541 )
Total property and equipment, net $ 370,944 $ 331,724
Depreciation and amortization expense related to property and equipment was $151.7 million for fiscal 2002 and $136.0 million for 2001.
Included in equipment and transportation, software, buildings and furniture and fixtures, are gross capital leases of $45.9 million as of
December 31, 2002 and $45.1 million as of December 31, 2001. Total accumulated amortization of these leases was $39.1 million as of
December 31, 2002 and $29.5 million as of December 31, 2001.
2003. EDGAR Online, Inc.