Adaptec 2005 Annual Report Download - page 57

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Table of Contents
In December 2007, the FASB issued EITF Issue 07-1 “Accounting for Collaborative Arrangements” (EITF 07-1). Collaborative arrangements are agreements
between parties to participate in some type of joint operating activity. The task force provided indicators to help identify collaborative arrangements and provides
for reporting of such arrangements on a gross or net basis pursuant to guidance in existing authoritative literature. The task force also expanded disclosure
requirements about collaborative arrangements. Conclusions within EITF 07-1 are to be applied retrospectively. We are currently assessing the impact that EITF
07-1 may have on our financial position, results of operations, and cash flows.
Off-balance Sheet Arrangements
As of December 30, 2007, the Company had no off-balance sheet financing arrangements.
51
Source: PMC SIERRA INC, 10-K, February 22, 2008