Adobe 2014 Annual Report Download - page 77
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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
77
NOTE 4. FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
We measure certain financial assets and liabilities at fair value on a recurring basis. There have been no transfers between
fair value measurement levels during the year ended November 28, 2014.
The fair value of our financial assets and liabilities at November 28, 2014 was determined using the following inputs (in
thousands):
Fair Value Measurements at Reporting Date Using
Quoted Prices
in Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
Total (Level 1) (Level 2) (Level 3)
Assets:
Cash equivalents:
Money market mutual funds ................................ 705,978 705,978 — —
Time deposits ....................................................... 63,139 63,139 — —
Short-term investments:
Corporate bonds and commercial paper............... 1,519,376 — 1,519,376 —
Foreign government securities ............................. 4,511 — 4,511 —
Marketable equity securities................................. 491 491 — —
Municipal securities ............................................. 175,201 — 175,201 —
U.S. agency securities .......................................... 498,385 — 498,385 —
U.S. Treasury securities........................................ 424,127 — 424,127 —
Prepaid expenses and other current assets:
Foreign currency derivatives................................ 32,991 — 32,991 —
Other assets:
Deferred compensation plan assets ...................... 25,745 549 25,196 —
Interest rate swap derivatives............................... 14,268 — 14,268 —
Total assets................................................................... $ 3,464,212 $ 770,157 $ 2,694,055 $ —
Liabilities:
Accrued expenses:
Foreign currency derivatives................................ $ 663 $ — $ 663 $ —
Total liabilities............................................................. $ 663 $ — $ 663 $ —