EFTA01366863.pdf

Amendment #4 Page 434 of 868 able C amount, however, are minimum email in the range will be accrued. rite coreinualry evaluate urcertantes associated with loss contingencies and record a charge equal to at least the mrnmum estimated liability for a ices anorgency wren torn of the followng con:boons are met (I) nforrnaton available price to issuance of the financial statements indicates teat it is probable trot an asset had been imparted or a liability had been incurred at the date of the financial statements, and p0 the loss cc range of loss can be reasonably estimated Legal costs are expensed when incurred Gan contingences are not recorded until realized or realizable Fair value TOISIAMMIlia Fair value acooLreing guidance establishes a neratchy for inputs used in measuring fair S. that maximizes the use of observable spas and minimizes the use of unobservable inputs by requnrg that the most observabe inputs be used when available Observable rails are mputs that market participants wood use in pricing the asset or had*. and are based on market data Waned from sources ndependent of LS Uncbservabe inputs reflect assumptons market participants would use in pricing Moe asset or liability based on the test information available o the circumstances The hierarchy its broken down into three levels based on the reliable', of inputs as follows • Level 1—Valuations based on quoted prices in actwe markets for donbcal assets or le totes net we have the Malty to access. Valuation aquernents and block decants are not applied to Level 1 instruments Because valuators are based on quoted antes that are reads, and regUarly available n anactwe market, vakebon of these instrumerts does rot entail a sonticart degee of judgment Level 2—Vakeitervl based on quoted Prices in markets that are not adore or for wrath all sgrtfcant inputs are observable. otter drectly or ndiroctly Valuations for Level tare prepared on an indivolual instrument basis using data obtained from recent transactors For identical securites in 'c arve markets a prang data from senior instruments n actwe and inactive markets Level 3—Vraeitions based on nputs that are unobservatee and warrant to the overall fair value measuernent • We maintain various financial .ntruaents recorded at cost in the March 31, 2015 and 2014 combined balance sheets that are not required to be recorded at far value. For cash and cash equivalents. restnded Cash accounts receivable, accounts payable, and accrued Is tot hes, the carrying amount approximates fair value because of the shat.term maturity a the instrumerts For due to related parbes aid debt the carrying amount approximates fair value based on comparable market rarest rates for similar instruments Nate enteurtang standards h May 2014. the FASB issued ASU NO 2014-09. Revenue from Contracts with Customers. wrath requires an entty to recognize the armcfl ci revenue to which it OX pacts to be entitled fa the transfer of promised /pods a services to custaners MU 2014-09 we replace most existing revenue recognition guidance in U S GAAP when it becomes effective. MU 2014-09 es effectste for us al January 1, 2017 Early appecaton is not permitted. T re standard permits the use d other a retrospective or °mutative effect transton method We rave not determned which ha region method we we adept and we are amend, evaluating lie impact that MU 2014.09 we have on our financial statements and related disclosures upon adoption In August 2014, ate FASB issued ASV No 2014-15, Presentation of FirarMel Slaternents—Going Concern (Sietopic 205.40) DISCloriure of Uncertainties about an Entity's Ablity to Continue as a Going Concern wricn recpres management to evaluate, at each annual and interim reporting peeled whether there are 'Donations or events that raise sucelantial doubt about the entity's ability to continue as a going contem within ore year after the date tie financel statements are issued and to provide related d.scbsures MU 2014-15 s effective F-114 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058391 CONFIDENTIAL SDNY GM_00204575 EFTA01366863