Pepsi 2014 Annual Report Download - page 126
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106
months or less are classified as cash equivalents. Our investments in available-for-sale securities are reported
at fair value. Unrealized gains and losses related to changes in the fair value of available-for-sale securities
are recognized in accumulated other comprehensive loss within common shareholders’ equity. Unrealized
gains and losses on our investments in marketable debt securities as of December 27, 2014 were not material.
The pre-tax unrealized gains on our investments in marketable equity securities were $111 million and $122
million as of December 27, 2014 and December 28, 2013, respectively.
Changes in the fair value of available-for-sale securities impact net income only when such securities are
sold or an other-than-temporary impairment is recognized. We regularly review our investment portfolio to
determine if any security is other-than-temporarily impaired. In making this judgment, we evaluate, among
other things, the duration and extent to which the fair value of a security is less than its cost; the financial
condition of the issuer and any changes thereto; and our intent to sell, or whether we will more likely than
not be required to sell, the security before recovery of its amortized cost basis. Our assessment on whether
a security is other-than-temporarily impaired could change in the future due to new developments or changes
in assumptions related to any particular security. We recorded no other-than-temporary impairment charges
for the years ended December 27, 2014 and December 28, 2013.
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