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compensating balance |
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Compensating balance An excess balance that is left in a bank to provide indirect compensation for loans extended or services provided.
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| In order to compete for the liquid assets of businesses, banks set up complicated procedures to pay implicit interest on compensating balance accounts. Selected Balance Sheet Information (In thousands) September 30, December 31, 2001 2000 (unaudited) (audited) Cash, cash equivalents and short-term investments (including compensating balance of $5 million) $9,707 $8,151 Working capital 3,050 1,201 Total assets 15,358 14,969 Long-term obligations 228 548 Preferred stock, subject to redemption 5,081 5,081 Stockholders' equity 1,327 927 Questcor Pharmaceuticals, Inc. Selected Balance Sheet Information (In Thousands) (unaudited) June 30 December 31, 2001 2000 ----------------- ------------------ Cash, cash equivalents and short-term investments (including compensating balance of $5 million) $ 6,754 $ 8,151 Working capital 318 1,201 Total assets 12,738 14,969 Long-term obligations 355 548 Preferred stock 5,081 5,081 Stockholders' equity (deficit) (971) 927 Questcor Pharmaceuticals, Inc. |
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