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1、Long-TermInvestments&8theTimeValueofMoneySPOTLIGHT:IntelHoldsSeveralDifferentTypes?ofInvestmentsAftercollegeyoumaystartinvestingthrougharetirementorsavingsplanatwork,andyoumaymakesomeinvestmentsonyourown.Thereasonspeopleinvestareforcurrentincome(interestanddivi
2、dends)andappreciationoftheinvestment’svalue(stocks,bonds,andrealestate,forexample).Someverywealthyindividualsinvestinawidevarietyoftraditionalandnon-traditionalinvestmentsinordertoobtainsignificantinfluenceover,oreventocontrol,corporateentitiesandtomaximizethei
3、rwealth.BusinessessuchasIntel,GeneralElectric,andCoca-Colainvestforthesamereasons.Inthischapteryou’lllearnhowtoaccountforinvestmentsofmanytypes.WeuseIntelCorporationasourexamplecom-panybecauseIntelhassomanyinterest-inginvestments.You’llalsolearnaboutthetimevalu
4、eofmoney,whichisanessentialfactorinvaluingsometypesoflong-terminvestments,aswellaslong-termliabilities(coveredinChapter9).●?RobertClare/Photographer’sChoice/GettyImages,Inc.463464Chapter8IntelCorporationConsolidatedBalanceSheet(Partial,Adapted)December25,2010(I
5、nmillions)20101Assets2Currentassets:3Cashandcashequivalents$5,4984Short-terminvestments11,2945Tradingassets5,0936Accountsreceivable,netofallowancefordoubtfulaccountsof$282,8677Inventories3,7578Othercurrentassets3,1029Totalcurrentassets31,61110Property,plantande
6、quipment,net17,89911Marketablestrategicequitysecurities1,00812Otherlong-terminvestments3,02613Goodwill4,53114Otherlong-termassets5,11115Totalassets$63,186WhatcomestomindwhenyouthinkofIntel?Computerprocessorsandmicrochips?Yes,Intelproducesprocessorsandcomputerch
7、ips.Butinterestingly,32.3%[($11,294+$5,093+$1,008+$3,026)/$63,186]ofIntel’sassetsaretiedupininvestmentsinothercompa-nies.TheassetssectionofIntel’s2010balancesheetreportstheseinvestmentsonlines4,5,11,and12.SomeofIntel’sotherassetcategoriesalsoincludeinvestments.
8、Throughoutthiscourse,you’vebecomeincreasinglyfamiliarwiththefinancialstatementsofcompaniessuchasIntel,FedEx,andStarbucks.You’veseenmostoftheitemsthatappearinasetoffinan-cial
