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Investments in Other Companies
12 Months Ended
Dec. 31, 2012
Investments, All Other Investments [Abstract]  
Investments in Other Companies
Investments in Other Companies
In previous years, the Company had made a number of investments in small, privately held technology companies in which the Company has held less than 20% of the capital stock or held notes receivable. The Company accounts for all of these investments at cost unless their value has been determined to be other than temporarily impaired, in which case the Company writes the investment down to its estimated fair value. The Company reviews these investments periodically for impairment and makes appropriate reductions in carrying value when an other-than-temporary decline is evident; however, for non-marketable equity securities, the impairment analysis requires significant judgment. The Company evaluates the financial condition of the issuer, market conditions, and other factors providing an indication of the fair value of the investments. Adverse changes in market conditions or operating results of the issuer that differ from expectation could result in additional other-than-temporary losses in future periods.
As a result of the sale of the Company's former optoelectronics operations, the Company received $4,500 of preferred stock as partial consideration in addition to an unsecured promissory note from CyOptics Inc. ("CyOptics") for $5,633. In years prior to 2011, the carrying amount of the CyOptics investment was fully impaired and written down to $0. During 2012, the remaining amount due on the promissory note was settled in full and the preferred stock was sold in exchange for a total liquidation payment of $6,957. The transaction was recorded as a gain/recovery of investment in the statement of operations and an adjustment in the operating activities section of the statement of cash flows. The proceeds from the liquidation were received in cash during 2012 and are included in the investing activities section of the statement of cash flows. During 2011 and 2010, the Company recovered $1,363 and $1,340 from previously impaired investments, respectively.