Audiovox 2005 Annual Report Download - page 64

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AUDIOVOX CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED
NOVEMBER 30, 2003, 2004 AND 2005
(DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER−SHARE DATA)
cash of $8,264 at November 30, 2004 represents amounts held in
escrow for the sale of the Cellular Business (Note2).
(e) Investment Securities
The Company classifies its investment securities in one of two
categories: trading or available−for−sale. Trading securities
are bought and held principally for the purpose of selling them
in the near term. All other securities not included in trading
are classified as available−for−sale.
Trading and available−for−sale securities are recorded at fair
value. Unrealized holding gains and losses on trading securities
are included in earnings. Unrealized holding gains and losses,
net of the related tax effect, on available−for−sale securities
are excluded from earnings and are reported as a component of
accumulated other comprehensive income (loss) until realized.
Realized gains and losses from the sale of available−for−sale
securities are determined on a specific identification basis.
Dividend and interest income are recognized when earned.
The cost, gross unrealized losses and aggregate fair value of
investment securities as of November 30, 2004 and 2005 are as
follows:
NOVEMBER 30, 2004
−−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Cost Unrealized Other−than− Aggregate
Temporary
Holding Impairment Fair
(Loss) Charge Value
−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−−
Short−term invvestments $124,237 − − $124,237
======== ========== ============= =========
CellStar Common Stock* $ 2,401 $(1,284) − $ 1,117
Trading Securities 4,871 − − 4,871
−−−−−−− −−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−
Long−term investments $ 7,272 $(1,284) − $ 5,988
======= ======== ============== ==========
NOVEMBER 30, 2005
−−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Cost Unrealized Other−than− Aggregate
Temporary
Holding Impairment Fair
(Loss) Charge Value
−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−−
Short−term investments* $108,766 − − $108,766
======== ========== = ============= = ========
CellStar Common Stock* $ 2,401 − $ (1,758) $ 643
Bliss−tel Stock and Warrants*
(Note 14) 6,987 $(1,783) − 5,204
Trading Securities 6,151 − − 6,151
−−− −−−−− −−−−−−−−−−− − −−−−−−−−−−−−− − −−−−−− −−−−−
Long−term investments $15,539 $(1,783) $(1,758) $11,998
======= ======== ======== =======
* Represents investments that are classified asavailable−for−sale securities.
F−10