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Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
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- (In millions)
- June 30, 2011
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis During fiscal years 2011 and 2010, impairment charges of $2 million and $5 million, respectively, were recognized for certain investments measured at fair value on a nonrecurring basis, as the decline in their respective fair values below their cost was determined to be other than temporary in all instances. At June 30, 2011 and 2010, we held no common and preferred stocks that were required to be measured at fair value on a nonrecurring basis. NOTE 7 — INVENTORIES The components of inventories were as follows:
NOTE 8 — PROPERTY AND EQUIPMENT The components of property and equipment were as follows:
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