Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Interpreting Footnotes on Security Investments Snapchat reports the following information in its 2018 10-K report. The table below presents the changes in accumulated other comprehensive
Interpreting Footnotes on Security Investments Snapchat reports the following information in its 2018 10-K report. The table below presents the changes in accumulated other comprehensive income (loss) ("AOCI") by component and the reclassifications out of AOCI: Changes in Accumulated Other Comprehensive Income (Loss) by Component $ thousands Balance at December 31, 2017 OCI before reclassifications Amounts reclassified from AOCI Net current period OCI Balance at December 31, 2018 Foreign Marketable Currency Securities Translation Total $(1,186) $16,759 $15,573 781 - 781 $(405) (12,892) (12,111) (12,892) (12,111) $3,867 $3,462 Footnotes report the following information on Snapchat's marketable debt securities. $ thousands Cash $- Cost or Gross Total Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value $307,945 $- $307,945 Gross Level 1 securities U.S. government securities 809,587 13 (193) 809,407 U.S.government agency securities 199,135 4 (40) 199,099 Level 2 securities Corporate debt securities Commercial paper 39,401 36,512 1 (20) 39,382 - 36,512 Certificates of deposit 14,622 14,622 Total $1,407,202 $18 $(253) $1,406,967 Snapchat reported net loss for the year of $1,255,911 thousand. Determine comprehensive income for the year. Use a negative sign to indicate comprehensive loss, if applicable. $ 12,892 * thousand During 2018, did the currencies in the countries where Snapchat's subsidiaries were headquartered weaken or strengthen? Weaken Consider the Level 1 securities, which relate to investments in U.S. government debt securities. On average, has the market rate of interest for these securities increased or decreased since Snapchat bought these securities? Increased
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started