Yahoo 2001 Annual Report Download - page 28

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Note 2. Balance Sheet Components
December 31, (in thousands) 2001 2000
Property and equipment:
Computers and equipment $ 177,867 $128,869
Furniture and fixtures 31,875 25,089
Leasehold improvements 40,287 27,517
250,029 181,475
Less: accumulated depreciation (118,381) (71,694)
$ 131,648 $109,781
Other assets, net:
Goodwill $ 192,987 $ 74,750
Intangible assets 21,932 3,227
Investment in Yahoo! Japan 79,431 77,703
Investments in privately-held companies 48,855 69,500
Other 13,880 17,765
$ 357,085 $242,945
Accrued expenses and other current liabilities:
Accrued compensation and related expenses $ 38,045 $ 25,652
Accrued content, connect, and other costs 48,277 42,532
Accrued sales and marketing related expenses 36,972 31,020
Accrued professional service expenses 17,763 12,626
Accrued restructuring costs 29,500 —
Accrued acquisition costs 28,828 15,452
Accrued income taxes payable 12,943 17,820
Other 23,569 22,927
$ 235,897 $168,029
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Note 3. Investments
The following tables summarize the Company’s investments in available-for-sale securities (in thousands):
December 31, 2001
Gross Gross Gross
Amortized Unrealized Unrealized Estimated
Costs Gains Losses Fair Value
U.S. Government and agencies $ 232,241 $ 1,064 $ (349) $ 232,956
Municipal bonds 53,355 — — 53,355
Corporate debt securities 800,063 14,771 (1,784) 813,050
Corporate equity securities 16,504 18,528 (180) 34,852
$1,102,163 $34,363 $(2,313) $1,134,213
December 31, 2000
Gross Gross Gross
Amortized Unrealized Unrealized Estimated
Costs Gains Losses Fair Value
U.S. Government and agencies $ 269,502 $ 1,319 $ — $ 270,821
Municipal bonds 58,852 289 — 59,141
Corporate debt securities 867,469 4,358 — 871,827
Corporate equity securities 43,758 44,661 (874) 87,545
$1,239,581 $50,627 $(874) $1,289,334
The contractual maturities of available-for-sale debt securities are as follows (in thousands):
December 31, 2001 2000
Due within one year $ 553,795 $ 663,353
Due after one year through five years 545,566 538,436
$1,099,361 $1,201,789
During 2001 and 2000, the Company recorded impairment charges of $38.0 million and $163.2 million,
respectively, related to declines in values of equity securities judged to be other than temporary.
Note 4. Related Party Transactions
At December 31, 2001, SOFTBANK, including its consolidated affiliates (“SOFTBANK”), was a significant
stockholder, holding approximately 20% of the then outstanding Common Stock. In addition, we have joint
ventures with SOFTBANK in France, Germany, Japan, Korea and the United Kingdom. A Managing Partner
of a SOFTBANK affiliate is also a member of our Board of Directors. As a result, SOFTBANK is able to sig-
nificantly influence all matters requiring Yahoo! stockholder approval. See Note 6 – “Joint Ventures” for
further information related to transactions involving SOFTBANK.