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Technology Stocks : Intel Corporation (INTC)

INTC 35.81

+0.2%

3:59 PM EST

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To: Raymond Thomas who started this subject	11/7/2001 9:22:37 AM
From: Elmer	Read Replies (2) of 186894

WASHINGTON (Dow Jones)Intel Corp. (INTC) expects its net income to increase by about $1.5 billion for 2002 as a result of the adoption of Financial Accounting Standard 142. According to the company's Form 10Q filed with the Securities and Exchange Commission Friday, Intel is still assessing the impact of FAS 142 and hasn't yet determined the full effects these statements will have on its consolidated financial position or results of operations. For 2002, the company will begin to test goodwill for impairment under the new rules, applying a fairvaluebased approach. FAS 142 primarily addresses accounting for goodwill and intangible assets and takes effect for the company on Jan. 1, 2002. The most significant changes made by FAS 142 require that goodwill and indefinitelived intangible assets no longer be amortized and be tested for impairment at least on an annual basis. (MORE) DOW JONES NEWS 110701 08:59 AM

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