Adobe 2010 Annual Report Download - page 49

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49
Should financial market conditions worsen in the future, investments in some financial instruments may pose risks
arising from market liquidity and credit concerns. In addition, any deterioration of the capital markets could cause our other
income and expense to vary from expectations. As of December 3, 2010, we had no material impairment charges associated
with our short-term investment portfolio, and although we believe our current investment portfolio has very little risk of
material impairment, we cannot predict future market conditions or market liquidity, or credit availability, and can provide no
assurance that our investment portfolio will remain materially unimpaired.
We may suffer losses from our equity investments which could harm our business.
We have investments and plan to continue to make future investments in privately held companies, many of which are
considered to be in the start-up or development stages. These investments are inherently risky, as the market for the
technologies or products these companies have under development is typically in the early stages and may never materialize.
Our investment activities can impact our net income. Future price fluctuations in these securities and any significant long-
term declines in value of any of our investments could reduce our net income in future periods.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.