Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 37.83

-4.2%

Dec 12 3:59 PM EST

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To: AK2004 who wrote (151055)	12/4/2001 8:32:42 PM
From: wanna_bmw	Read Replies (4) of 186894

albert re: and intel finds new and better sources of profit - just recently adopted new accounting rules should add at least a billion or so to intel's bottom line. <ggggg> If you change accounting rules often enough you don't have to sell anything to make profit You are so full of shit, albert. Here are the "new accounting rules" that Intel has adopted. edgar-online.com Change in Accounting Principle Effective the beginning of the first quarter of 2001, the company adopted SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities," as amended, which required the company to recognize all derivative instruments as either assets or liabilities on the balance sheet at fair value. The accounting for gains or losses from changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship as well as on the type of hedging relationship. See "Derivative Financial Instruments." The cumulative effect of the adoption of SFAS 133 was an increase in income before taxes of $45 million and this amount is included in interest and other, net in the first quarter of 2001. The adoption did not have a material effect on other comprehensive income. Upon initial adoption of SFAS 133, approximately $1.4 billion of available-for-sale investments in marketable debt securities that had related derivative instruments were reclassified to trading assets. So besides $45 million in the first quarter, and a reclassification of assets, Intel's new accounting rules didn't do much of anything to their bottom line. And that proves what a misleading snake you are. -BMW

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