FORM 20-F - Check Point

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CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share amounts) NOTE 5:- FAIR VALUE MEASUREMENTS (Cont.) December 31, 2008 Fair value measurements using input type Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 398,534 $ - $ - $ 398,534 Commercial papers - 12,502 - 12,502 Treasury notes - 13,998 - 13,998 Short-term deposits - 26,302 - 26,302 Marketable securities: Government and corporate debentures – fixed interest rate 621,444 - 621,444 Government-sponsored enterprises - 194,254 - 194,254 Structured notes - 29,506 - 29,506 Government and corporate debentures – floating interest rate 15,203 - 15,203 Asset-backed securities 2,023 - 2,023 Auction rate securities - - 11,910 11,910 Foreign currency derivative contracts - 860 - 860 Total Financials Assets $ 398,534 $ 916,092 $ 11,910 $ 1,326,536 The following table presents the changes in Level 3 instruments measured on a recurring basis for the year ended December 31, 2009. The Company’s Level 3 instruments consist of Auction Rate Securities classified as available-for-sale with the unrealized gains and losses, net of tax, reported in “accumulated other comprehensive income (loss)” in shareholders’ equity. Fair value measurements using significant unobservable inputs (Level 3): Auction rate securities Balance at January 1, 2008 - Transfer to Level 3 $18,920 Unrealized losses included in earning (other than temporary impairment) (6,290) Balance at December 31, 2008 11,910 Unrealized losses included in earning (other than temporary impairment) (3,134) Balance at December 31, 2009 $8,776 F-32
CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. dollars in thousands (except share and per share amounts) NOTE 6:- PROPERTY AND EQUIPMENT, NET December 31, 2008 2009 Cost: Computers and peripheral equipment $ 46,578 $ 52,830 Office furniture and equipment 5,063 5,311 Building 32,025 32,201 Leasehold improvement 5,484 4,423 89,150 94,765 Accumulated depreciation and amortization 48,902 55,829 Property and equipment, net $ 40,248 $ 38,936 In March 2006, the Company purchased a tract of land and a building in Tel-Aviv, Israel, for a total amount of $ 35,250. Additional payments for taxes related to the purchase and for the building renovations totaled $ 7,043, $ 2,614 and $ 176 in 2007, 2008 and 2009, respectively. The Company moved into the new building in May 2007, and commenced depreciation of the building at that time. During 2008 and 2009, the Company recorded a reduction of $ 6,521 and $ 1,947, respectively, to the cost and accumulated depreciation of fully depreciated equipment no longer in use. NOTE 7:- GOODWILL AND OTHER INTANGIBLE ASSETS, NET a. Goodwill: Changes in goodwill for the years ended December 31, 2008 and 2009 are as follows: F-33 Year ended December 31, 2008 2009 Goodwill, beginning of year $ 664,910 $ 664,602 Acquisition of Nokia Appliance Business - 43,856 Adjustment (308) - Goodwill, end of year $ 664,602 $ 708,458
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SECURITIES AND EXCHANGE COMMISSION
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UTABLE OF CONTENTS PART I Item 1. I
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ITEM 1. IDENTITY OF DIRECTORS, SENI
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2005 2006 December 31, 2007 (in tho
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Our future operating results will d
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equires significant time and resour
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that we pay SofaWare NIS 13 million
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Compliance with new and changing co
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Our business and operations are sub
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Also, the volatility in the foreign
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Finally, another key trend affectin
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Our endpoint security offerings pro
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� Security and Network Traffic En
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Collaborative Enterprise Support (
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Check Point Software Technologies (
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Property, Plants and Equipment Our
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We derive our sales primarily throu
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Management makes estimates of fair
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Equity-based compensation expense W
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Results of operations The following
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Total revenues in 2008 grew by 11%
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General and Administrative General
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Quarterly Results of Operations The
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As a percentage of total revenues:
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Liquidity and Capital Resources Dur
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Off-Balance Sheet Arrangements We a
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Tal Payne has served as our Chief F
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Each non-employee director who is f
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Nominating committee. The nominatin
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Equity Incentive Plans The followin
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Trustee. A trustee designated by ou
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ITEM 7. MAJOR SHAREHOLDERS AND RELA
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eceived on December 27, 2007) and N
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Articles of Association and Israeli
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Election of directors. Our ordinary
Page 71 and 72: Approval of certain transactions; o
Page 73 and 74: o In a criminal action in which the
Page 75 and 76: (as shown in the table below). The
Page 77 and 78: converted into freely repatriable U
Page 79 and 80: income. A shareholder who does not
Page 81 and 82: The table below provides informatio
Page 83 and 84: PART II ITEM 13. DEFAULTS, DIVIDEND
Page 85 and 86: Our controller reviews all manageme
Page 87 and 88: ITEM 16F. CHANGE IN REGISTRANT’S
Page 89 and 90: ITEM 19. EXHIBITS 1 Articles of Ass
Page 91 and 92: CHECK POINT SOFTWARE TECHNOLOGIES L
Page 93 and 94: F- 3 Kost Forer Gabbay & Kasierer 3
Page 95 and 96: F- 5 Kost Forer Gabbay & Kasierer 3
Page 97 and 98: CONSOLIDATED BALANCE SHEETS U.S. do
Page 99 and 100: STATEMENTS OF CHANGES IN SHAREHOLDE
Page 121: CHECK POINT SOFTWARE TECHNOLOGIES L
Page 141 and 142: [This Page Intentionally Left Blank
Page 143 and 144: Exhibit 12.1 I, Gil Shwed, certify
Page 145 and 146: Exhibit 13 CERTIFICATION PURSUANT T
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FORM 20-F - Check Point

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