AMD 2010 Annual Report Download - page 133
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Please find page 133 of the 2010 AMD 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.-
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In connection with the Company’s reduced ownership interest in GF, the Company decreased the number of
AMD-designated directors on GF’s Board from two to one.
Following the execution of the Contribution Agreement and the governance changes described above, the
Company assessed its ability to exercise significant influence over GF and considered, factors such as its
representation on GF’s Board of Directors, participation in GF’s policy-making processes, material intra-entity
transactions, interchange of managerial personnel, technological dependency, and the extent of ownership by the
Company in relation to ownership by the other shareholder. Based on the results of the assessment, the Company
concluded that it no longer had the ability to exercise significant influence over GF. Accordingly, in the first
quarter of 2011, the Company changed its method of accounting for its ownership interest in GF from the equity
method to the cost method of accounting. Under the cost method of accounting, the Company no longer
recognizes any share of GF’s net income or loss in its statement of operations.
The Company will review the carrying value of its investment in GF for impairment at each reporting
period. Impairment indicators, among other factors, include significant deterioration in GF’s earnings
performance or business prospects, significant change in market conditions in which GF operates, and GF’s
ability to continue as a going concern. An impairment charge will be recorded if the carrying value of the
investment exceeds its fair value, and such impairment is determined to be “other than temporary.”
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