Yahoo 2015 Annual Report Download - page 114
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billion, respectively. The estimated fair value of the Notes was determined on the basis of quoted
market prices observable in the market and is considered Level 2 in the fair value hierarchy. See
Note 11—“Convertible Notes” for additional information related to the Notes.
Goodwill and Indefinite-Lived Intangible Assets
The inputs used to measure the estimated fair value of goodwill and indefinite-lived intangible assets
are classified as a Level 3 fair value measurement due to the significance of unobservable inputs
using company-specific information. The valuation methodology used to estimate the fair value of
goodwill and indefinite-lived intangible assets is discussed in Note 5—“Goodwill” and
Note 6—“Intangible Assets, Net”.
Other Investments
As of December 31, 2014 and 2015, the Company held approximately $82 million and $83 million,
respectively, of investments in equity securities of privately-held companies that are accounted for
using the cost method. These investments are included within other long-term assets and
investments on the consolidated balance sheets. Such investments are reviewed periodically for
impairment.
Note 3 Consolidated Financial Statement Details
Prepaid Expenses and Other Current Assets
As of December 31, prepaid expenses and other current assets consisted of the following (in
thousands):
2014 2015
Prepaid expenses
$132,306 $ 87,843
Foreign currency forward and option contract assets
122,648 84,136
Other receivables non-trade
85,893 167,198
Restricted cash(*)
23,088 29,678
Income tax receivables
44,998 220,996
Other
11,274 12,941
Total prepaid expenses and other current assets
$420,207 $602,792
(*) The amount represents customer funds received by the Company in connection with its online
e-commerce services in the Asia Pacific region that are restricted in a separate bank account.
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