|UNION CARBIDE CORP /NEW/ filed this Form 10-Q on 04/27/2017|
Union Carbide Corporation and Subsidiaries
Notes to the Consolidated Financial Statements
NOTE 3 - INVENTORIES
The following table provides a breakdown of inventories:
NOTE 4 - INTANGIBLE ASSETS
The following table provides information regarding the Corporation’s intangible assets:
Total estimated amortization expense for 2017 and the five succeeding fiscal years is as follows:
NOTE 5 - FINANCIAL INSTRUMENTS
The Corporation's investments in marketable securities are classified as available-for-sale. Proceeds from sales of available-for-sale securities were $2 million for the three-month period ended March 31, 2017 ($2 million for the three-month period ended March 31, 2016).
For securities frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks.