Intel 2003 Annual Report Download - page 53

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Table of Contents
Index to Financial Statements
The table below presents the fair value and hypothetical loss for our marketable portfolio given the specified percentage decreases in
equity prices. The estimated decreases reflect the impact of hedges and offsetting positions, and are not necessarily indicative of future
performance. Actual results may differ materially.
Hypothetical Loss
(In Millions)
Fair Value
30% Decrease
60% Decrease
December 27, 2003
$
591
$
(161
)
$
(318
)
December 28, 2002
†
$
335
$
(30
)
$
—
Non-Marketable Equity Securities. Our strategic investments in non-marketable equity securities would also be affected by an adverse
movement of equity market prices, although the impact cannot be directly quantified. Such a movement and the related underlying economic
conditions would negatively affect the prospects of the companies we invest in, their ability to raise additional capital and the likelihood of our
being able to realize our investments through liquidity events such as initial public offerings, mergers and private sales. These types of
investments involve a great deal of risk, and there can be no assurance that any specific company will grow or will become successful;
consequently, we could lose all or part of our investment. At December 27, 2003, our strategic investments in non-marketable equity securities
had a carrying amount of $665 million, excluding equity derivatives that were subject to mark-to-market requirements.
50
†
A 60% loss was not calculated as of December 28, 2002, as we did not have a similarly concentrated investment.