Avid 1996 Annual Report Download - page 29

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28
C. Marketable Securities
Gross realized and unrealized gains and losses for the years ended December 31, 1996 and 1995 were immaterial. The
amortized cost, including accrued interest, and fair value of marketable securities as of December 31, 1996 and 1995 are as
follows (in thousands):
Amortized
Cost
Gross
Unrealized
Holding Gains
Gross
Unrealized
Holding Losses Fair
Value
1996
Federal, State, and Municipal Obligations $11,465 $1 $3 $11,463
Commercial paper 6,779 3 6,782
$18,244 $4 $3 $18,245
1995
Federal, State, and Municipal Obligations $47,601 $51 $7 $47,645
The maturities of marketable securities held at December 31, 1996, are as follows (in thousands):
Amortized Cost Fair
Value
Within one year $17,247 $17,248
After one year, within five years 997 997
$18,244 $18,245
D. Inventories
Inventories consist of the following (in thousands):
December
31,
1996
1995
Raw materials................................................. $19,182 $55,690
Work in process............................................... 870 1,355
Finished goods................................................
8,307
6,342
$28,359
$63,387
E. Capitalized Software Development Costs
Capitalized purchased and internally developed software costs, included in other assets at December 31, 1996 and 1995,
consist of the following (in thousands):
December
31,
1996
1995
Capitalized software development costs $6,322 $4,856
Less accumulated amortization 4,595 1,744
$1,727 $3,112
Computer software costs capitalized during 1996, 1995, and 1994 amounted to approximately $2,295,000, $3,570,000, and
$1,057,000, respectively. Amortization of computer software costs during those periods was approximately $3,185,000,
$1,220,000, and $466,000, respectively. During 1996 as part of the nonrecurring costs, described in Note N, capitalized
software costs of $829,000 and accumulated amortization of $334,000 were written off.