Incredimail 2010 Annual Report Download - page 102
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INCREDIMAIL LTD AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
For securities with fair value that is less than the amortized cost and that the Company intends to sell or it is more likely than not
that it will be required to sell the securities before recovery, the entire difference between amortized cost and fair value is
recognized in earnings. For those securities that the Company does not intend to sell and it is not more likely than not that the
Company will be required to sell, the Company used a discounted cash flow analysis to determine the portion of the impairment
that relates to credit loss. To the extent that the net present value of the projected cash flows is less than the amortized cost of the
security, the difference is considered a credit loss and is recorded through earnings. The inputs on the future performance of the
underlying assets used in the cash flow models include prepayments, defaults and loss severity assumptions.
A non-credit related amount of $210,000 for other-than-
temporary impairment losses recognized in earnings prior to April 1,
2009 was reclassified as a cumulative effect adjustment that increased retained earnings and decreased accumulated other
comprehensive income at April 1, 2009.
The carrying amount of available-for-
sale debt marketable securities as of December 31, 2009 and 2010 was $5,225,000 and
$14,973,000, respectively, of which $355,000 and $1,521,000 is scheduled to mature within one year and the remaining
$4,870,000 and $13,452,000 is scheduled to mature after one year and up to five years, respectively.
Depreciation expenses totaled $970,000, $625,000 and $627,000 for the years ended December 31, 2008, 2009 and 2010,
respectively.
NOTE 3:
-
MARKETABLE SECURITIES (Cont.)
NOTE 4:
-
OTHER RECEIVABLES AND PREPAID EXPENSES
December 31,
2009
2010
U.S. dollars in thousands
Government authorities
$
4
,
387
$
3,773
Prepaid expenses
223
228
Current severance fund
-
243
Other
209
241
$
4,819
$
4,485
NOTE 5:
-
PROPERTY AND EQUIPMENT, NET
December 31,
2009
2010
U.S. dollars in thousands
Cost:
Computers and peripheral equipment
$
3,045
$
3,570
Office furniture and equipment
366
400
Leasehold improvements
453
533
Motor vehicles
38
-
3,902
4,503
Accumulated depreciation
2,536
3,122
Depreciated cost
$
1,366
$
1,381
F
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