Symantec 2010 Annual Report Download - page 152
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authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on
either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical
level. The following are the hierarchical levels of inputs to measure fair value:
•Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active
markets.
•Level 2: Inputs reflect: quoted prices for identical assets or liabilities in markets that are not active; quoted
prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for
the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data
by correlation or other means.
•Level 3: Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to
determine fair value. These assumptions are required to be consistent with market participant assumptions
that are reasonably available.
Assets Measured and Recorded at Fair Value on a Recurring Basis
The following table summarizes our assets that are measured at fair value on a recurring basis, by level, within
the fair value hierarchy:
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
As of April 2, 2010 As of April 3, 2009
(In millions)
Cash equivalents:
Money market funds . . . . . . $2,046 $ — $— $2,046 $389 $ — $— $ 389
Bank securities and
deposits .............. — 216 — 216 — 474 — 474
Government securities . . . . . — 116 — 116 — 479 — 479
Total cash equivalents ....... 2,046 332 — 2,378 389 953 — 1,342
Short-term investments:
Asset-backed securities . . . . — 6 — 6 — 13 — 13
Corporate securities ....... — 4 — 4 — 8 — 8
Government securities . . . . . — — — — — 175 — 175
Marketable equity
securities ............. 5 — — 5 3 — — 3
Total short-term investments . . 5 10 — 15 3 196 — 199
Total.................... $2,051 $342 $— $2,393 $392 $1,149 $— $1,541
Level 2 fixed income available-for-sale securities are priced using quoted market prices for similar instru-
ments, nonbinding market prices that are corroborated by observable market data, or discounted cash flow
techniques.
76
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)