Stamps.com 2009 Annual Report Download - page 66

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TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
4. Cash, Cash Equivalents and Investments – (continued)
On at least a quarterly basis, we evaluate our available for sale securities, and record an “other-than-temporary
impairment” (“OTTI”) if we believe their fair value is less than historical cost, and it is probable that we will not collect all
contractual cash flows. During the fourth quarter of 2009 we recorded OTTI of approximately $83,000 after evaluating a number
of factors including, but not limited to:
The following table summarizes our cash, cash equivalents, restricted cash and investments as of December 31, 2009 and
2008 (in thousands):
• How much fair value has declined below amortized cost
• The financial condition of the issuers
• Significant rating agency changes on the issuer
•
Our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value
December 31, 2009
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Cash and cash equivalents:
Cash
$
9,132
$
—
$
—
$
9,132
Money market
35,879
—
—
35,879
Cash and cash equivalents
45,011
—
—
45,011
Restricted cash:
Corporate notes and bonds
554
—
—
554
Restricted cash
554
—
—
554
Short-term investments:
Corporate notes and bonds
2,221
17
(14
)
2,224
Short-term investments
2,221
17
(14
)
2,224
Long-term investments:
Corporate bonds and asset backed
securities
24,165
250
(459
)
23,956
Long-term investments
24,165
250
(459
)
23,956
Cash and equivalents, restricted cash and
investments
$
71,951
267
(473
) $
71,745
F-14