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As required by GAAP [FASB ASC 320, previously SFAS No. 115], Microsoft Corporation reports its investments available-for-sale at the fair value of the investment securities. The net unrealized holding gain is not reported in the income statement. Instead, it's reported as part of Other comprehensive income and added to Accumulated other comprehensive income in shareholders' equity.Comprehensive income is a broader view of the change in shareholders' equity than traditional net income, encompassing all changes in equity from non owner transactions. Microsoft chose to report its Other comprehensive income as a separate statement in a disclosure note in its 2009 annual report.
Required:
1. The note indicates Unrealized holding losses during 2009 in the amount of $(263) million. Is this the amount Microsoft would include as a separate component of shareholders' equity? Explain.
2. What does Microsoft mean by the term, "Reclassification adjustment for gains (losses) included in net income"?
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