eBay 2001 Annual Report Download - page 38

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adoption of SFAS No. 141 did not change the method of accounting used in previous business
combinations accounted for under the pooling-of-interest method.
In July 2001, the FASB issued SFAS No. 142, ""Goodwill and Other Intangible Assets,'' that requires
the use of a non-amortization approach to account for purchased goodwill and certain intangible assets.
Under a non-amortization approach, goodwill and certain intangible assets will not be amortized as a cost
of operations, but instead would be reviewed for impairment and written down and charged to operations
only in the periods in which the recorded value of goodwill and certain intangible assets exceed their fair
values. This Statement is eÅective for Ñscal years beginning after December 15, 2001. We adopted SFAS
No. 142 eÅective January 1, 2002. Transitional impairments, if any, are not expected to be material,
however, impairment reviews may result in future periodic write-downs.
In October 2001, the FASB issued SFAS No. 144, ""Accounting for the Impairment or Disposal of
Long-Lived Assets,'' that develops one accounting model for long-lived assets that are to be disposed of by
sale and expands the scope of discontinued operations. This Statement is eÅective for Ñscal years
beginning after December 15, 2001. We adopted SFAS No. 144 eÅective January 1, 2002. Transitional
impairments, if any, are not expected to be material, however, impairment reviews may result in future
periodic write-downs.
34