text: Held-to-maturity securities are re c o rded at amortized cost, adjusted for the amortization or accretion of premium and discounts. 
  Av a i l a b l e - f o r-sale securities are re c o rded at fair value. Unrealized holding gains and losses, net of the related tax effect, on available-for- 
  sale securities are excluded from operating results and re p o rted as a separate component of other comprehensive income/loss until 
  realized. Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. 
  
  A decline in the market value of any held-to-maturity or available-for-sale security below cost that is deemed other than temporary 
  results in a reduction in the carrying amount to fair value. The impairment is charged to operating results and a new cost basis for the 
  security is established. Premiums and discounts are amortized or accreted over the life or term of the related held-to-maturity security or 
  a v a i l a b l e - f o r-sale security as an adjustment to yield using the effective interest method. 
  
  Dividend and interest income are recognized when earned. 
  
  (e) Forw a rd foreign exchange contracts 
  
  F o rw a rd foreign exchange contracts are re c o rded at fair values in the consolidated balance sheet in other current assets or other curre n t 
  liabilities with the related gain or loss recognized in the consolidated statement of operations, unless the contracts meet certain hedging 
  criteria. A foreign exchange contract is considered a hedge of an identifiable foreign currency commitment if (i) the contract is designated 
  as, and is effective as, a hedge of foreign currency commitment and (ii) the foreign currency commitment is firm. 