Crucial 2011 Annual Report Download - page 181
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30
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
The book value of short-
term financial instruments including cash and cash equivalents, accounts receivable/ payable
(including related parties), financing from related parties and short-
term loans, is believed to be not materially different from
the fair value because the maturity dates of these short-
term financial instruments are within one year from the balance sheet
date.
As of December 31, 2009 and 2010, the fair value of Company’s financial assets and liabilities were as follows:
The methods and assumptions used to estimate the fair value of each class of financial instruments were as follows:
(Continued)
(19)
Financial Instrument Information
(a)
Fair value of financial instruments
December 31,
2009
2010
Fair value
Fair value
Book value
Market value
in active
market
Value determined
by using broker
quote/carrying
value
Book value
Market value
in active
market
Value determined
by using broker
quote/carrying
value
Non-derivative financial instruments:
Financial assets:
Cash and cash equivalents
$
5,376,225
5,376,225
-
5,018,667
5,018,667
-
Accounts receivable－related parties
9,523,451
-
9,523,451
5,729,041
-
5,729,041
Financial liabilities:
Short-term loans
5,930,000
-
5,930,000
-
Notes and accounts payable (including accounts
payable－related parties)
3,725,355
-
3,725,355
10,906,943
-
10,906,943
Bonds payable (including current portion of
bonds payable)
18,001,739
-
17,895,625
16,030,861
-
16,060,989
Long-tern loans (including current portion of
long-term loans)
34,797,137
-
34,797,137
52,378,153
-
52,378,153
Long-term other account payable－related
parities (including other payables－related
parties)
2,593,000
-
2,593,000
1,923,491
-
1,923,491
Other payables－related parties (lending from
related parties)
1,381,700
-
1,381,700
3,000,000
-
3,000,000
Derivative financial instruments:
Financial liabilities:
Interest rate swaps
567,642
-
567,642
223,302
-
223,302
(i)
The fair value of financial instruments traded in active markets is based on quoted market prices. If the financial
instruments are not traded in an active market, then the fair value is determined by certain valuation techniques, using
assumptions under existing market conditions.