FAIR VALUES OF FINANCIAL INSTRUMENTS Sample Clauses

FAIR VALUES OF FINANCIAL INSTRUMENTS. Since the majority of the Group’s financial instruments are short-term in nature or carrying interest at rates close to market interest rates, their fair value is not expected to be materially different from the amounts presented in statement of financial position. A fair value is the amount for which an asset can be exchanged or a liability settled between knowledgeable, willing parties in an arm’s length transaction. The fair value is determined by reference to the market price of the financial instruments or by using an appropriate valuation technique, depending on the nature of the instrument.
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FAIR VALUES OF FINANCIAL INSTRUMENTS. The fair values of financial instruments are based on the following: Cash and due from banks, federal funds sold and certain other assets: The carrying amounts of these assets are assumed to approximate their fair values based upon the variable rates charged and short-term nature of these items. Investment securities: Fair values for investment securities are primarily based on quoted market prices. Federal Home Loan Bank (FHLB) stock: It is not practical to estimate the fair value of FHLB stock, as it is not marketable. The investment in FHLB stock is carried at cost in the accompanying consolidated balance sheet and is assumed to approximate fair value. Cash Value of Bank Owned Life Insurance: The carrying value of Cash Value of Bank Owned Life Insurance approximates fair value. Loans and commitments to extend credit and standby letters of credit: For variable rate instruments that re-price frequently with no significant change in credit risk, fair values are based on carrying amounts. The fair values for other instruments (including fixed rate real estate loans, commercial and state and municipal loans) are estimated using discounted cash flow analysis, based on interest rates currently being offered for instruments with similar terms to borrowers of similar credit quality. Fair value estimates include judgments regarding future expected loss experience and risk characteristics. Deposits: The carrying amount of demand deposits (including interest bearing checking accounts, savings accounts and money market accounts) approximate fair value. The fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated contractual maturities on such time deposits.
Sample 1
FAIR VALUES OF FINANCIAL INSTRUMENTS. Disclosure of fair value information about certain financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value is required by Financial Accounting Standards Board Statement (SFAS) No. 107, Disclosures About Fair Value of Financial Instruments. The following methods and assumptions were used in estimating fair values.
Sample 1
FAIR VALUES OF FINANCIAL INSTRUMENTS. The Company's financial instruments consist of cash, temporary investments and debt. The following summarizes the methods used to estimate the fair market value of these financial instruments. The carrying values of cash and temporary investments approximate their fair values due to their short-term maturities. The carrying value of the $20,000,000 notes payable at August 30, 1998 approximates fair value based on their future cash flows discounted at a current rate for debt with similar terms and maturities. At August 30, 1998 and August 31, 1997, letters of credit amounting to approximately $627,000 and $260,000, respectively, relating to purchase commitments issued to foreign suppliers were outstanding.
Sample 1
FAIR VALUES OF FINANCIAL INSTRUMENTS. The carrying values of cash and cash equivalents reported in the accompanying consolidated balance sheets approximate fair value due to the short-term maturities of these assets. The aggregate fair NOTES TO CONSOLIDATED FINANCIAL STATEMENTS CONTINUED value of the Revolving Credit Facility approximates its carrying amount, because of its recent and frequent repricing based upon market conditions. Investments in publicly traded securities accounted for under Statement of Financial Accounting Standards No. 115, "Accounting for Certain Investments in Debt and Equity Securities" (SFAS 115) are carried at amounts approximating fair value. The Company maintains an investment in Chapters Inc. (Chapters), a Canadian book retailer. The carrying value and fair value (based on quoted market prices and conversion rates) of this investment was $18,827 and $33,201, respectively, at January 30, 1999. Due to the partial sale of its investment in Chapters, as more fully discussed in Note 5, the Company currently accounts for this investment as an available-for-sale security. Interest rate swap agreements are valued based on market quotes obtained from dealers. The carrying value and estimated fair value of the interest rate swaps asset (liability) was $0 and $447, respectively, at January 29, 2000, and $0 and ($2,189), respectively, at January 30, 1999.
Sample 1
FAIR VALUES OF FINANCIAL INSTRUMENTS. The carrying amounts of the Company's notes receivable from purchasers of operating units, notes receivable from affiliated entities and borrowings under its long term note payable approximate their fair value. Kwik Wash Laundries, Inc. and KWL, Inc. Combined Schedules of Income and Retained Earnings (In thousands) YEAR ENDED DECEMBER 31 1995 1994 1993 (UNAUDITED) ------------------------------------------- Revenues: Laundry route receipts $42,400 $40,569 $38,275 Laundry store receipts 21,020 20,574 19,744 Miscellaneous 437 613 534 ------------------------------------------- Total revenues 63,857 61,756 58,553 Operating costs expenses: Route commission expenses 17,255 16,603 15,653 Laundry operating expenses 21,160 21,161 21,747 Depreciation and amortization 8,841 8,822 8,934 Sales, general and administrative expenses 4,995 5,276 4,484 ------------------------------------------- Total operating costs and expenses 52,251 51,862 50,818 ------------------------------------------- Income from operations 11,606 9,894 7,735 Other income (expense): Interest and finance charge income 161 253 287 Gain (loss) on sales of operating units and investment (229) (26) 599 Equity in losses of equity investee (458) - - Interest expense (465) (510) (64) ------------------------------------------- Total other income (expense) (991) (283) 822 ------------------------------------------- Income before income taxes 10,615 9,611 8,557 Income taxes 354 436 1,998 ------------------------------------------- Net income 10,261 9,175 6,559 Retained earnings at beginning of period 19,055 29,844 23,777 Less cancelation of treasury shares - 14,066 492 Less distributions to stockholders 9,338 5,898 - ------------------------------------------- Retained earnings at end of period $19,978 $19,055 $29,844 =========================================== Kwik Wash Laundries, Inc. and KWL, Inc. Combined Statements of Income and Retained Earnings (In Thousands) YEAR ENDED DECEMBER 31 1995 1994 1993 (UNAUDITED) ------------------------------------------- Purchases of fixed assets $ (5,483) $(4,737) $ (4,579) Prepaid location fees (2,978) (2,907) (2,616) Notes receivable (1,659) 2,647 (2,010) Investment in equity investee (1,500) - - Purchases of assets from acquisitions (568) - (1,372) Payment to stockholder for covenant not to compete - (1,250) - Proceeds from sales of assets 256 324 533 ------------------------------------------- Net cash used in investing activities $(11,932) $(5,923) $(10,044) =====...
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Related to FAIR VALUES OF FINANCIAL INSTRUMENTS

  • Financial Instruments Not applicable

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  • Instruments and Tangible Chattel Paper If any Pledgor shall at any time hold or acquire any Instruments (other than checks received and processed in the ordinary course of business) or Tangible Chattel Paper evidencing an amount in excess of $5.0 million, such Pledgor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Administrative Agent may from time to time reasonably request.

  • Financial Accounts Exhibit E, as may be updated by the Borrower in a written notice provided to Agent after the Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Financial Statements; Liabilities (a) Section 3.5 of the Seller Disclosure Schedule sets forth the following financial statements: (i) the audited combined balance sheets of the Alkali Chemicals Division of Seller, as of December 31, 2013 and 2012; (ii) the audited combined statements of operations of the Alkali Chemicals Division of Seller for each of the fiscal years ended December 31, 2013 and 2012; (iii) the audited combined statements of cash flows of the Alkali Chemicals Division of Seller for each of the fiscal years ended December 31, 2013 and 2012; (iv) the unaudited condensed combined balance sheet of the Alkali Chemicals Division of Seller as of September 30, 2014; (v) the unaudited condensed combined statements of operations of the Alkali Chemicals Division of Seller for the nine (9)-month periods ended September 30, 2014 and 2013; and (vi) the unaudited condensed combined statements of cash flows of the Alkali Chemicals Division of Seller for the nine (9)-month periods ended September 30, 2014 and 2013 (the items referred to in clauses (i) through (vi), with any notes thereto, being herein collectively referred to as the “Financial Statements” and the items referred to in clauses (iv) through (vi), with any notes thereto, being herein collectively referred to as the “Interim Financial Statements”). The Financial Statements have been prepared in accordance with GAAP (except as may be noted therein) from the books and records of the Business, and present fairly, in all material respects, the combined financial position and the combined results of operations of the Business as of the respective dates thereof or the periods then ended, except that the Interim Financial Statements may be subject to year-end adjustments and may not contain all footnotes and other presentation items required under GAAP. Notwithstanding Seller’s representations and warranties made in this Section 3.5(a) or Section 3.5(c), Purchaser acknowledges that throughout the periods covered by the Financial Statements, the Business has not operated as a separate stand-alone entity of Seller, instead the Business has been reported within Seller’s consolidated financial statements; stand-alone financial statements have not historically been prepared for the Business; and the Financial Statements have been prepared from Seller’s historical accounting records and are presented on a stand-alone basis; and, as a result, the Financial Statements are not necessarily indicative of what the results of operations, financial position and cash flows of the Business will be in the future.

  • Financial Condition; Financial Statements (a) On and as of the Effective Date, on a pro forma basis after giving effect to the Transaction and to all Indebtedness (including the Loans) incurred, and to be incurred, and Liens created, and to be created, by each Credit Party in connection therewith, with respect to the Borrower (on a stand-alone basis) and the Borrower and its Subsidiaries (on a consolidated basis) (x) the sum of the assets, at a fair valuation, of the Borrower (on a stand-alone basis) and the Borrower and its Subsidiaries (on a consolidated basis) will exceed its or their debts, (y) it has or they have not incurred nor intended to, nor believes or believe that it or they will, incur debts beyond its or their ability to pay such debts as such debts mature and (z) it or they will have sufficient capital with which to conduct its or their business. For purposes of this Section 8.09(a), “debt” means any liability on a claim, and “claim” means (i) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (ii) right to an equitable remedy for breach of performance if such breach gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured or unsecured. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

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