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value | date stringlengths 8 8 | form stringclasses 4
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0000320193 | 20041203 | 10-K | 1,511 | No sales of EarthLink were made in any of the subsequent quarters of fiscal 2002. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,512 | However, during the fourth quarter of 2002, the Company determined that the then current decline in the fair value of its investment in EarthLink was other-than-temporary. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,513 | As a result, the Company recognized a $44 million charge to earnings to write-down the basis of its investment in EarthLink to $35 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,514 | This charge was included in gains (losses) on non-current investments, net. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,515 | As of September 28, 2002, the Company held 6.5 million shares of EarthLink stock valued at $35 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,516 | Akamai
In June 1999, the Company invested $12.5 million in Akamai, a global Internet content delivery service. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,517 | The investment was in the form of convertible preferred stock that converted into 4.1 million shares of Akamai common stock (adjusted for subsequent stock splits) at the time of Akamai's initial public offering in October 1999. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,518 | Beginning in the first quarter of 2000, the Company categorized its shares in Akamai as available-for-sale. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,519 | During 2004, the Company sold its remaining 986,000 shares of Akamai stock. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,520 | The transaction generated proceeds of approximately $5 million and a gain before taxes of approximately $4 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,521 | During the fourth quarter of 2003, the Company sold 1,875,000 shares of Akamai stock for net proceeds of $9 million and a gain before taxes of $8 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,522 | As of September 27, 2003, the Company's remaining investment in Akamai consisted of 986,000 shares of Akamai stock valued at $5 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,523 | During the first quarter of 2002, the Company sold 250,000 shares of Akamai stock for net proceeds of $2 million and a gain before taxes of $710,000. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,524 | No sales of Akamai were made in any of the subsequent quarters of fiscal 2002. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,525 | However, during the fourth quarter of 2002, the Company determined the decline in the fair value of its investment in Akamai was other-than-temporary. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,526 | As a result, the Company recognized a $6 million charge to earnings to write-down the basis of its investment in Akamai to $3 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,527 | This charge was included in gains (losses) on non-current investments, net. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,528 | ARM
ARM is a publicly held company in the U.K. involved in the design and licensing of high performance microprocessors and related technology. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,529 | During the third quarter of 2003, the Company sold all of its remaining holdings in ARM stock, consisting of 278,000 shares for net proceeds of approximately $295,000, and a gain before taxes of $270,000. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,530 | During the first quarter of 2002, the Company sold 4.7 million shares of ARM stock for both net proceeds and a gain before taxes of $21 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,531 | No sales of ARM were made in any of the subsequent quarters of fiscal 2002. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,532 | Other Strategic Investments
The Company has made additional minority debt and equity investments in several privately held technology companies, which were reflected in the consolidated balance sheets in other assets. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,533 | These investments were inherently risky because the products and/or markets of these companies were typically not fully developed. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,534 | During 2002, the Company determined the decline in fair value of certain of these investments was other-than-temporary and, accordingly, recognized a charge to earnings of $15 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,535 | These charges were included in gains (losses) on non-current investments, net. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,536 | As of September 25, 2004, the Company had $1.4 million of equity investments reflected in its consolidated balance sheet. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,537 | As of September 27, 2003, the Company had no private debt or equity investments reflected in its consolidated balance sheet. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,538 | Note 3-Consolidated Financial Statement Details (in millions)
Inventories
Other Current Assets
Property, Plant, and Equipment
Other Assets
Accrued Expenses
Interest and Other Income, Net
Note 4-Acquisitions
Goodwill and Other Intangible Assets
The Company is currently amortizing its acquired intangible assets with defi... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,539 | The Company ceased amortization of goodwill at the beginning of fiscal 2002 when it adopted SFAS No. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,540 | 142. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,541 | The following table summarizes the components of gross and net intangible asset balances (in millions):
(a)Accumulated amortization related to goodwill of $55 million arising prior to the adoption of SFAS No. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,542 | 142 has been reflected in the gross carrying amount of goodwill as of September 25, 2004 and September 27, 2003. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,543 | During the third quarter of 2004, the Company recorded an adjustment of approximately $5 million to goodwill related to the acquisition of PowerSchool, Inc (PowerSchool) in fiscal 2001. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,544 | This reduction of goodwill included the cancellation of 79,167 shares of Apple common stock, valued at approximately $2 million, that were previously held in escrow and were refunded upon resolution of certain matters arising out of the acquisition of PowerSchool. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,545 | This adjustment also included approximately $3 million to adjust the original estimates of the pre-acquisition PowerSchool restructuring liability to actual costs incurred. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,546 | Expected annual amortization expense related to acquired technology is as follows (in millions):
Amortization expense related to acquired intangible assets is as follows (in millions):
Acquisition of Emagic GmbH
During the fourth quarter of 2002, the Company acquired Emagic GmbH (Emagic), a provider of professional sof... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,547 | During fiscal 2003, contingent consideration totaling $1.3 million was paid. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,548 | The acquisition has been accounted for as a purchase. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,549 | The portion of the purchase price allocated to purchased in-process research and development (IPR&D) was expensed immediately, and the portion of the purchase price allocated to acquired technology and to tradename will be amortized over their estimated useful lives of 3 years. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,550 | Goodwill associated with the acquisition of Emagic is not subject to amortization pursuant to the provisions of SFAS No. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,551 | 142. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,552 | Total consideration was allocated as follows (in millions):
The amount of the purchase price allocated to IPR&D was expensed upon acquisition, because the technological feasibility of products under development had not been established and no alternative future uses existed. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,553 | The IPR&D relates primarily to Emagic's Logic series technology and extensions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,554 | At the date of the acquisition, the products under development were between 43%-83% complete, and it was expected that the remaining work would be completed during the Company's fiscal 2003 at a cost of approximately $415,000. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,555 | The remaining efforts, which were completed in 2003, included finalizing user interface design and development, and testing. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,556 | The fair value of the IPR&D was determined using an income approach, which reflects the projected free cash flows that will be generated by the IPR&D projects and that are attributable to the acquired technology, and discounting the projected net cash flows back to their present value using a discount rate of 25%. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,557 | Acquisition of certain assets of Zayante, Inc., Prismo Graphics, and Silicon Grail
During fiscal 2002 the Company acquired certain technology and patent rights of Zayante, Inc., Prismo Graphics, and Silicon Grail Corporation for a total of $20 million in cash. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,558 | These transactions have been accounted for as asset acquisitions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,559 | The purchase price for these asset acquisitions, except for $1 million identified as contingent consideration which would be allocated to compensation expense over the following 3 years, has been allocated to acquired technology and would be amortized on a straight-line basis over 3 years, except for certain assets acq... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,560 | Acquisition of Nothing Real, LLC
During the second quarter of 2002, the Company acquired certain assets of Nothing Real, LLC (Nothing Real), a privately-held company that develops and markets high performance tools designed for the digital image creation market. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,561 | Of the $15 million purchase price, the Company has allocated $7 million to acquired technology, which will be amortized over its estimated life of 5 years. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,562 | The remaining $8 million, which has been identified as contingent consideration, rather than recorded as an additional component of
the cost of the acquired assets, would be allocated to future compensation expense in the appropriate periods over the following 3 years. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,563 | Note 5-Restructuring Charges
Fiscal 2004 Restructuring Actions
The Company recorded total restructuring charges of approximately $23 million during the year ended September 25, 2004, including approximately $14 million in severance costs, $5.5 million in asset impairments, and a $3.5 million charge for lease cancellati... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,564 | Of the $23 million charge, $14.3 million had been spent by the end of 2004, with the remaining $8.7 million consisting of $5.2 million for employee severance benefits and $3.5 million for lease cancellations. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,565 | During the fourth quarter of 2004, the Company recognized restructuring expense of $5.5 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,566 | In conjunction with the European workforce reduction during the second quarter of 2004, the Company vacated a leased sales facility during the fourth quarter of 2004 resulting in a charge of $3.7 million for contract termination and asset impairment costs. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,567 | The Company also recognized employee termination costs of $1.8 million related to the elimination of non-essential positions, principally in Europe. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,568 | In addition, the Company reversed $400,000 of excess restructuring expense from prior periods related primarily to lower than expected disposal costs on Sacramento manufacturing-related fixed assets. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,569 | The net cost of the restructuring plans for the fourth quarter of 2004 was $5.1 million, of which $300,000 had been paid prior to the end of 2004. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,570 | These actions will result in the termination of 54 positions, 4 of which had been terminated prior to the end of 2004. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,571 | During the third quarter of 2004, the Company finalized restructuring plans related to closing Company-owned manufacturing activities in Sacramento. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,572 | In addition, the Company's management approved restructuring plans related to certain headcount reductions primarily for various sales and marketing activities principally in the U.S. Total cost of the restructuring plan for the third quarter of 2004 was $7.9 million, of which $7.2 million had been paid prior to the en... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,573 | These actions will result in the termination of 83 positions, 77 of which had been terminated prior to the end of 2004. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,574 | The closing of manufacturing operations in Sacramento resulted in the elimination of 67 positions for a severance cost of $1.9 million and write-off of $5.3 million in manufacturing-related fixed assets whose use ceased during the third quarter of 2004. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,575 | Termination of sales and marketing activities, principally in the U.S., resulted in severance of $0.7 million for the elimination of 16 positions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,576 | During the second quarter of 2004, the Company's management approved restructuring plans related to the termination of Company-owned manufacturing activities in Sacramento and headcount reductions related primarily to various sales and marketing activities in the U.S. and Europe. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,577 | Total cost of the actions was $9.6 million for the termination of 348 positions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,578 | As of the end of the fourth quarter of 2004, $6.8 million had been spent and 310 positions had been eliminated related to these actions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,579 | The following table summarizes activity associated with restructuring actions initiated during fiscal 2004 (in millions):
Fiscal 2003 Restructuring Actions
The Company recorded total restructuring charges of approximately $26.8 million during the year ended September 27, 2003, including approximately $7.4 million in se... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,580 | Of the $26.8 million charge, all had been spent by the end of 2004, except for approximately $3.0 million related to operating lease costs on abandoned facilities. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,581 | During the third quarter of 2003, approximately $500,000 of the amount originally accrued for lease cancellations was determined to be in excess due to the sublease of a property sooner than originally estimated and a shortfall of approximately $500,000 was identified in the severance accrual due to higher than expecte... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,582 | These adjustments had no net effect on reported operating expense. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,583 | During the second quarter of 2003, the Company's management approved and initiated restructuring actions that resulted in recognition of a total restructuring charge of $2.8 million, including $2.4 million in severance costs and $400,000 for asset write-offs and lease payments on an abandoned facility. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,584 | Actions taken in the second quarter were for the most part supplemental to actions initiated in the prior two quarters and focused on further headcount reductions in various sales and marketing functions in the Company's Americas and Europe operating segments and further reductions associated with PowerSchool-related a... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,585 | The second quarter actions resulted in the termination of 93 employees. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,586 | During the first quarter of 2003, the Company's management approved and initiated restructuring actions with a total cost of $24 million that resulted in the termination of manufacturing operations at the Company-owned facility in Singapore, further reductions in headcount resulting from the shift in PowerSchool produc... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,587 | These restructuring actions resulted in the elimination of 260 positions worldwide. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,588 | Closure of the Company's Singapore manufacturing operations resulted in severance costs of $1.8 million and costs of $6.7 million to write-off manufacturing related fixed assets, whose use ceased during the first quarter. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,589 | PowerSchool related costs included severance of approximately $550,000 and recognition of $5 million of previously deferred stock compensation that arose when PowerSchool was acquired by the Company in 2001 related to certain PowerSchool employee stockholders who were terminated in the first quarter of 2003. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,590 | Termination of sales and marketing activities and employees, principally in the U.S. and Europe, resulted in severance costs of $2.8 million and accrual of costs associated with operating leases on
closed facilities of $6.7 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,591 | The total net restructuring charge of $23 million recognized during the first quarter of 2003 also reflects the reversal of $600,000 of unused restructuring accrual originally made during the first quarter of 2002. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,592 | The following table summarizes activity associated with restructuring actions initiated during fiscal 2003 (in millions):
Fiscal 2002 Restructuring Actions
During fiscal 2002, the Company recorded total restructuring charges of approximately $30 million related to actions intended to eliminate certain activities and be... | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,593 | During the fourth quarter of 2002, the Company's management approved and initiated restructuring actions with a total cost of approximately $6 million designed to reduce headcount costs in corporate operations and sales and to adjust its PowerSchool product strategy. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,594 | These restructuring actions resulted in the elimination of approximately 180 positions worldwide at a cost of $1.8 million, all of which were eliminated by September 27, 2003. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,595 | Eliminated positions were primarily in corporate operations, sales, and PowerSchool related research and development in the Americas operating segment. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,596 | The shift in product strategy at PowerSchool included discontinuing development and marketing of PowerSchool's PSE product. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,597 | This shift resulted in the impairment of previously capitalized development costs associated with the PSE product in the amount of $4.5 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,598 | During the first quarter of 2002, the Company's management approved and initiated restructuring actions with a total cost of approximately $24 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,599 | These restructuring actions resulted in the elimination of approximately 425 positions worldwide at a cost of $8 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,600 | Positions were eliminated primarily in the Company's operations, information systems, and administrative functions. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,601 | In addition, these restructuring actions also included significant changes in the Company's information systems strategy resulting in termination of equipment leases and cancellation of existing projects and activities. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,602 | The Company ceased using the assets associated with first quarter 2002 restructuring actions during that same quarter. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,603 | Related lease and contract cancellation charges totaled $12 million, and charges for asset impairments totaled $4 million. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,604 | The first quarter 2002 restructuring actions were primarily related to corporate activity not allocated to operating segments. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,605 | During the first quarter of 2003, the Company reversed the remaining unused accrual of $600,000. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,606 | All amounts associated with the fiscal 2002 restructuring actions had been spent by the end of fiscal 2003. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,607 | Note 6-Income Taxes
The provision for income taxes consisted of the following (in millions):
The foreign provision for income taxes is based on foreign pretax earnings of approximately $384 million, $250 million and $284 million in 2004, 2003, and 2002, respectively. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,608 | As of September 25, 2004, approximately $3.2 billion of the Company's cash, cash equivalents, and short-term investments are held by foreign subsidiaries and are generally based in U.S. dollar-denominated holdings. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,609 | Amounts held by foreign subsidiaries are generally subject to U.S. income taxation on repatriation to the U.S. | 0001047469-04-035975/full-submission.txt |
0000320193 | 20041203 | 10-K | 1,610 | The Company's consolidated financial statements fully provide for any related tax liability on amounts that may be repatriated, aside from undistributed earnings of certain of the Company's foreign subsidiaries that are intended to be indefinitely reinvested in operations outside the U.S. U.S. income taxes have not bee... | 0001047469-04-035975/full-submission.txt |
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