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treatment with respect to commitments and contingencies. Actual results may differ from these estimates under different assumptions or 
conditions. We believe the following critical accounting policies involve the more significant judgments and estimates used in the preparation 
of the consolidated financial statements.  
  
Approximately 48% of our assets as of December 31, 2001 consist of intangible assets, most of which have been acquired in business 
combinations and were recorded based on the fair value of the common stock we issued to effect those business combinations. During the years 
ended December 31, 2001 and 2000, we determined that the values of certain intangible assets associated with certain of these business 
combinations were impaired. As such, we recorded impairment charges totaling $107.7 million and $9.0 million in 2001 and 2000, 
respectively. As discussed below in the  Recent Accounting Pronouncements  section, we adopted SFAS No. 142 on January 1, 2002 and 
expect to record a substantial charge to reduce the carrying value of our intangible assets to their estimated fair value as of January 1, 2002. 
Ongoing analyses of whether the fair value of recorded goodwill is impaired will involve a substantial amount of judgment, as will establishing 
and monitoring estimated lives of amortizable intangible assets. Future charges related to intangible assets could be material depending on 
future developments and changes in technology and our business.  
  
We have invested in public and private companies for business and strategic purposes. As of December 31, 2001, the carrying value of our 
publicly held and privately held investments was $8.7 million and $38.4 million, respectively. The determination as to whether a decline in the 
fair value of a publicly held security is other than temporary requires a considerable amount of judgment. However, determining whether 
other than temporary declines in the fair values of investments in the equity securities of private companies have occurred requires an even 
higher level of judgment due to the absence of an observable market price for the investment. As discussed above, we regularly review the 
status of our private company investees to determine whether such a decline has occurred. However, this determination involves various 
assumptions about the investee companies' business prospects in addition to an understanding of their capital structure and financing 
developments. To the extent the companies in which we have invested experience significant business difficulties in the future, we may record 
additional impairment charges beyond those incurred during 2001.  
  
We periodically evaluate whether the declines in fair value of our investments are other than temporary. This evaluation consists of a 
review by members of senior management in finance and treasury. For investments in companies with publicly quoted market prices, we 
compare the market price to the investment's carrying value and, if the quoted market price is less than the investment's accounting basis for an 
extended period of time, generally six months, we then consider additional factors to determine whether the decline in fair value is other than 
temporary. These include the financial condition, results of operations and operating trends for each of the companies, as well as publicly 
available information regarding the investee companies, including reports from investment analysts. We also consider our ability and intent to 
hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value, specific adverse conditions causing a 
decline in fair value of a particular investment, conditions in an industry or geographic area, seasonal factors, downgrading of a debt security 
by a rating agency, and, if applicable, whether dividends have been reduced or eliminated, or scheduled interest payments on debt securities 
have not been made. For investments in private companies with no quoted market price, we consider similar qualitative factors and also 
consider the implied value from any recent rounds of financing completed by the investee as well as market prices of comparable public 
companies. We obtain periodic financial statements from the private company investees to assist us in reviewing relevant financial data and to 
assist us in determining whether such data may indicate other than temporary declines in fair value below the investment's carrying value.  
  
A portion of our revenue is earned from advertising barter transactions and from arrangements with companies in which we have invested. 
In both cases, the determination of the fair value of consideration given and received requires judgment. For advertising barter transactions, we 
identify comparable cash transactions, as required by EITF Issue No. 99 17, to determine the amount of revenue and expense to be recorded for 
the advertising we receive and surrender in such transactions. For transactions with related parties where we invest in a company and also agree 
to provide advertising or other services, we determine the fair value of securities we  
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