Electronic Arts 2009 Annual Report Download - page 142
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Market Price Risk
The value of our marketable equity securities in publicly traded companies is subject to market price volatility
and foreign currency risk for investments denominated in foreign currencies. As of March 31, 2009 and 2008,
our marketable equity securities were classified as available-for-sale and, consequently, were recorded in our
Consolidated Balance Sheets at fair market value with unrealized gains or losses reported as a separate
component of accumulated other comprehensive income, net of any tax effects, in stockholders’ equity. The fair
value of our marketable equity securities was $365 million and $729 million as of March 31, 2009 and March 31,
2008, respectively. In fiscal years 2009 and 2008, we recognized other-than-temporary impairment losses on our
marketable equity securities of $57 million and $109 million, respectively.
Our marketable equity securities have been and may continue to be adversely impacted by volatility in the public
stock markets. At any time, a sharp change in market prices in our investments in marketable equity securities
could have a significant impact on the fair value of our investments. The following table presents hypothetical
changes in the fair value of our marketable equity securities as of March 31, 2009, arising from changes in
market prices plus or minus 25 percent, 50 percent and 75 percent.
Valuation of Securities
Given an X Percentage
Decrease in Each
Stock’s Market Price
Fair Value
as of
March 31,
2009
Valuation of Securities Given an
X Percentage Increase in Each
Stock’s Market Price
(In millions) (75%) (50%) (25%) 25% 50% 75%
Marketable equity securities ........ $ 91 $182 $274 $365 $456 $ 547 $ 638
The following table presents hypothetical changes in the fair value of our marketable equity securities as of
March 31, 2008, arising from changes in market prices plus or minus 25 percent, 50 percent and 75 percent.
Valuation of Securities
Given an X Percentage
Decrease in Each
Stock’s Market Price
Fair Value
as of
March 31,
2008
Valuation of Securities
Given an X Percentage
Increase in Each
Stock’s Market Price
(In millions) (75%) (50%) (25%) 25% 50% 75%
Marketable equity securities ........ $182 $365 $547 $729 $911 $1,094 $1,276
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