Identifiable Assets. Except in connection with the customary operation of such cash management system as its stockholder may from time to time in the ordinary course of business implement for itself and its consolidated subsidiaries (which cash management system will be operated such that all transfers of funds are properly documented and the respective assets and liabilities of the Depositor and its stockholder are ascertainable at all times), the Depositor's funds and other assets will be identifiable and will not be commingled with those of its stockholder or any other entity. The Depositor will maintain separate banking records and books of account from those of its stockholder or any other affiliate of its stockholder.
Identifiable Assets. The Seller's assets will not be commingled with those of any LOL Company, and the Seller maintains and shall maintain separate bank accounts and books of account from those of the LOL Companies. The separate assets and liabilities of the Seller are readily distinguishable from those of the LOL Companies, and the separate assets and liabilities of the Seller and the LOL Companies can be quickly and inexpensively identified and ascertained.
Identifiable Assets. Year ended June 30, 1999 -- $224,541 ======== $405,606 ======== $52,944 ======= $22,231 ======= $ 9,316 ======= $(1,128) ======= $ (34,246) ========= $(102,380) ========= $252,555 ======== $324,329 ========
Identifiable Assets. $183,814 ======== $344,730 ======== $62,352 ======= $55,260 ======= $13,324 ======= $ 8,735 ======= $ (39,897) ========= $(101,637) ========= $219,593 ======== $307,088 ======== 72 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS ON SCHEDULE To Aspen Technology, Inc.: We have audited, in accordance with generally accepted auditing standards, the consolidated financial statements of Aspen Technology, Inc. and subsidiaries, included in this Form 10-K, and have issued our report thereon dated August 4, 1999. Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The schedule listed in Item 14(a)-2 is the responsibility of the Company's management, is presented for purposes of complying with the Securities and Exchange Commission's rules and is not part of the basic financial statements. This schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, fairly states, in all material respects, the financial data required to be set forth therein, in relation to the basic financial statements taken as a whole. XXXXXX XXXXXXXX LLP Boston, Massachusetts August 4, 1999 SCHEDULE II ASPEN TECHNOLOGY, INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS DESCRIPTION BALANCE, BEGINNING OF PERIOD CHARGED TO COSTS AND EXPENSES DEDUCTIONS OTHER BALANCE, END OF PERIOD ----------- ------------ ---------- ----------- -------- ---------- ALLOWANCE FOR DOUBTFUL ACCOUNTS: June 30, 1997(1)............... $ 730,685 $ 120,000 $ (222,850) $211,882 $ 839,717 June 30, 1998(1)............... 839,717 180,000 (136,000) 598,000 1,481,717 June 30, 1999(2)............... 1,481,717 689,000 (1,107,619) 225,000 1,288,098 RESERVES FOR RESTRUCTURING: June 30, 1997.................. $ -- $ -- $ -- $ -- $ -- June 30, 1998.................. -- -- -- -- -- June 30, 1999.................. -- 9,266,966 (2,467,816) -- 6,799,150 ---------------
Identifiable Assets. (in millions) 1997 1996 1995 -------------------------------------------------------------------------------- Industry segments: Business equipment $4,099 $3,776 $3,612 Business services 632 471 374 Commercial and industrial financing Large-ticket external 1,966 2,747 2,868 Small-ticket external 921 874 770 -------------------------------------------------------------------------------- 2,887 3,621 3,638 -------------------------------------------------------------------------------- Total $7,618 $7,868 $7,624 ================================================================================ Geographic areas: United States $6,957 $7,188 $6,928 Outside the United States 867 831 828 -------------------------------------------------------------------------------- Total $7,824 $8,019 $7,756 ================================================================================ A reconciliation of identifiable assets to consolidated assets is as follows:
Identifiable Assets. The SPV Purchaser's assets will not be commingled with those of any LOL Company, and the SPV Purchaser maintains and shall maintain separate bank accounts and books of account from those of the LOL Companies. The separate assets and liabilities of the SPV Purchaser are readily distinguishable from those of the LOL Companies, and the separate assets and liabilities of the SPV Purchaser and the LOL Companies can be quickly and inexpensively identified and ascertained.
Identifiable Assets. ======== $ (2,488) ======== $ 78,863 ======== ======= ======= $(2,182) $(1,372) ======= ======= $12,803 $ 1,713 ======= ======= ======= $ -- ======= $ -- ======= ======== $ (6,042) ======== $ 93,379 ======== Sales and transfers between geographic areas were generally priced to recover cost plus an appropriate xxxx-up for profit. These inter-area transfers were eliminated from consolidated sales. AMTECH CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED) U.S. export sales, summarized by geographic area, are as follows: 1997 1996 1995 ----------- ----------- ----------- The Americas (excluding the United States).............................. $ 6,509,000 $ 7,998,000 $ 6,593,000 Far East.............................. 3,630,000 5,434,000 3,938,000 Europe................................ 1,416,000 1,340,000 2,867,000 ----------- ----------- ----------- $11,555,000 $14,772,000 $13,398,000 =========== =========== =========== In 1997, FDOT, a state government transportation agency, accounted for 3% of sales and 11% of year-end accounts receivable. In 1996, MTA Bridges and Tunnels, a state government transportation agency, accounted for 11% of sales and 16% of year-end accounts receivable. In 1995, MTA Bridges and Tunnels accounted for 21% of sales and 22% of year-end accounts receivable.
Identifiable Assets. Year ended June 28, 1997 869 ------ $2,953 ====== $ 21 ====== $ 569 ====== 96 ------ $ 831 ====== $ 9 ====== $ 143 ====== 2,540 (3,505) ------ ------- $2,586 $(3,505) ====== ======= $ 113 $ (4) ====== ======= $ 276 $ (4) ====== ======= -- ------ $2,865 ====== $ 139 ====== $ 984 ====== Sales to unaffiliated customers.................. $2,980 $1,107 $ 91 $ -- $4,178
Identifiable Assets. Year ended June 27, 1998 1,340 ------ $4,320 ====== $ 158 ====== $ 733 ====== 167 ------ $1,274 ====== $ 15 ====== $ 186 ====== 3,646 (5,153) ------ ------- $3,737 $(5,153) ====== ======= $ 200 $ (8) ====== ======= $ 404 $ (16) ====== ======= -- ------ $4,178 ====== $ 365 ====== $1,307 ====== Sales to unaffiliated customers.................. $2,630 $ 886 $ 26 $ -- $3,542 Transfers between geographic areas............... 998 166 3,324 (4,488) -- ------ ------ ------ ------- ------ Revenues, net.................................... $3,628 $1,052 $3,350 $(4,488) $3,542 ====== ====== ====== ======= ====== Operating income (loss).......................... $ (271) $ 7 $ 66 $ (20) $ (218) ====== ====== ====== ======= ====== Identifiable assets.............................. $ 907 $ 116 $ 455 $ (35) $1,443 NOTE 8. SALE OF BUSINESSES ====== ====== ====== ======= ====== Sale of Multimedia Business In October 1995, the Company sold its multimedia business to Philips Semiconductors, Inc. ("Philips") for $51.9 million cash, resulting in a one-time, pre-tax gain of $17.3 million. Through this transaction, Philips acquired specific intellectual properties and assumed certain liabilities directly related to the multimedia business. Sale of High Speed Fiber-Optic Communication Links Business In March 1996, the Company sold its high speed fiber-optic communication links business to Vixel Corporation for $1.2 million cash as well as other non-cash consideration. This transaction was not material to the Company's financial position or results of operations. 44 45 WESTERN DIGITAL CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Sale of Input/Output Products Business During April 1996, the Company disposed of its input/output products business, which represented the final element of its microcomputer products group. The transaction included the sale of related assets and resulted in a restructuring of the Company's other support organizations. The restructuring resulted in a personnel reduction of 102 people, not including employees that were hired by the purchaser, Adaptec, Inc. The net result of the asset sale and related restructuring charges is included in selling, general and administrative expenses and was not material to the Company's 1996 results of operations. The consideration received and related costs associated with the sale of the input/output products business are as follows (in millions): Sales price..................................................
Identifiable Assets. $ 7,267,000 =========== $ 1,669,000 =========== $ 1,190,000 =========== $31,381,000 =========== -- ----------- $ 777,000 =========== $ 855,000 =========== $ 304,000 =========== $12,616,000 =========== 1,610,000 ----------- $(5,531,000) =========== $ 433,000 =========== 31,000 =========== $ 4,387,000 =========== 1,610,000 ----------- $ 2,513,000 =========== $ 2,957,000 =========== $ 1,525,000 =========== $48,384,000 =========== 13. ACQUISITIONS In July 2001, the Company entered into an exchange agreement with the former owners of X-Ray Inspection, Inc. which was acquired by the Company in April 1999. Pursuant to the agreement, the Company's obligation for contingent future consideration (up to $2.5 million depending on future earnings of X-Ray) was cancelled in exchange for the issuance of options to acquire 100,000 of the Company's common stock (at $3.50 per share) and the nomination of the principal former owner of X-Ray to the Company's Board of Directors. The value of the options issued in exchange for the cancellation of the contingent future consideration ($283,000) was recorded as additional goodwill with an offsetting credit to additional paid-in capital.
