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Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The following table presents the change in Level 3 financial assets and liabilities measured on a recurring basis for the year ended December 31, 2011 (in
thousands):
_
____________________________________
The following table presents the change in Level 3 financial assets and liabilities measured on a recurring basis for the year ended December 31, 2010 (in
thousands):
_
_____________________________________
The following is the description of the fair value for financial instruments we hold that are not subject to fair value recognition.
Debt Instruments
To estimate the fair value of the Senior Secured Notes and Rollover Notes, the Second-Priority Secured Notes and the Exchangeable Notes, we used the average
indicative price from several market makers.
To estimate the fair value of the Vendor Financing Notes, we used an income approach based on the contractual terms of the notes and market-based parameters
such as interest rates. A level of subjectivity is applied to estimate the discount rate used to calculate the present value of the estimated cashflows.
F-64
January 1, 2011
Acquisitions,
Issuances and
Settlements
Net Realized/Unrealized
Gains (Losses)
Included in
Earnings
Net
Realized/Unrealized
Gains (Losses)
Included in
Accumulated
Other
Comprehensive
Income December 31, 2011
Net Unrealized
Gains (Losses)
Included in 2011
Earnings Relating to
Instruments Held at
December 31, 2011
Long-term investments:
Other debt securities $ 15,251 $ (13,904) $ 4,945 $ (6,292) $
—
$
—
Other assets:
Derivatives 292 (1,609) 1,526 (1)
—
209 (84)
Other current liabilities:
Derivatives (167,892)
15,870 143,782 (1)
—
(8,240) 159,652
(1) Included in Gain (loss) on derivative instruments in the consolidated statements of operations.
January 1, 2010
Acquisitions,
Issuances and
Settlements
Net Unrealized
Gains (Losses)
Included in
Earnings
Net Unrealized
Gains (Losses)
Included in
Accumulated
Other
Comprehensive
Income December 31, 2010
Net Unrealized
Gains (Losses)
Included in 2010
Earnings Relating to
Instruments Held at
December 31, 2010
Long-term investments:
Other debt securities $ 13,171 $
—
$
—
$ 2,080 $ 15,251 $
—
Other assets:
Derivatives
—
648 (356) (1)
—
292 (356)
Other current liabilities:
Derivatives
—
(231,503) 63,611 (1)
—
(167,892) 63,611
(1) Included in Gain (loss) on derivative instruments in the consolidated statements of operations.