Virtualization, which provides the capability to run multiple workloads on a single server, is a key enabler of efficiency. We focus on delivering higher value to clients and on increasing productivity, to improve profitability. The new requirements were effective for interim and annual periods ending after June 15, 2009 on a prospective basis. Demand for Lotus software was impacted by customer consolidations and downsizing throughout 2009. Purchase price consideration was paid in cash. Scheduled maturities of minimum lease payments outstanding at December 31, 2009, expressed as a percentage of the total, are approximately: 2010, 49 percent; 2011, 27 percent; 2012, 15 percent; 2013, 6 percent; and 2014 and beyond, 2 percent.
These solutions address critical client requirements for information retention and archiving, data deduplication, availability and virtualization, and security and compliance. Management is responsible for establishing and maintaining adequate internal control over financial reporting of the company. Pursuant to the transition provisions, the company adopted this new guidance on January 1, 2009 via retrospective application of the presentation and disclosure requirements. The company adopted this guidance as of January 1, 2008 but has not applied the fair value option to any eligible assets or liabilities. Nintendo and Sony released new versions of their game consoles in late 2006. No impairment of intangible assets was recorded in any of the periods presented. These short-term receivables are primarily unsecured and are also subjected to additional credit analysis in order to evaluate the associated risk.
Checks are sorted by hand on tabletops. Although 2009 revenue declined, second half revenue improved significantly over first half performance with performance essentially flat compared to the prior year. For all of these estimates, it should be noted that future events rarely develop exactly as forecasted, and estimates require regular review and adjustment. Lease and loan financing to external and internal clients for terms generally between two and seven years. These systems—System z, converged System p and System x—are typically the core technology in data centers that provide required infrastructure for business and institutions. The massive amount of data these systems are generating can now be captured and analyzed. The Global Services backlog provides a solid revenue base entering each year.
Par exemple, lorsque vous recherchez un film, nous utilisons vos données de recherche et votre localisation pour afficher les cinémas les plus proches. The company capitalizes certain costs that are incurred to purchase or to create and implement internal-use computer software, which includes software coding, installation, testing and certain data conversions. At the same time, we transformed our vast services delivery capability, applying automation, standardization and advanced engineering and management principles of the sort that prior generations had applied to manufacturing. The company performs periodic reviews to ensure that unamortized program costs remain recoverable from future revenue. We also provide training and certification to developers and information technology professionals about our Server and Tools, Microsoft Business Division, and Client platform products.
Growth Markets The company has benefited from its investments over the past several years in growth markets. And every day, more and more forward-thinking leaders are creating tangible outcomes and benefits, making their parts of our planet smarter. System z revenue decreased 28. This combination allows Global Financing to effectively manage two of the major risks credit and residual value that are normally associated with financing. The decrease in financing receivables provisions in 2009 was primarily due to lower specific reserve requirements. Generally, the company manages currency risk in these entities by linking prices and contracts to U.
Many companies and entire industries were pulling in their horns, hoping simply to ride out the storm. The accompanying notes on pages 70 through 126 are an integral part of the financial statements. Within the Global Services business, profit margins improved and the company continues to yield significant results from the targeted actions and investments it has made in the last few years. The growth markets contributed 19 percent of the geographic revenue in 2009, 1 point higher versus 2008. The review primarily consists of an analysis based upon current information available about the client, such as financial statements, news reports, published credit ratings, current market-implied credit analysis, as well as the current economic environment, collateral net of repossession cost and prior collection history.
Specifically, complex arrangements with nonstandard terms and conditions may require significant contract interpretation to determine the appropriate accounting, including whether the deliverables specified in a multiple element arrangement should be treated as separate units of accounting. Smarter mobile phone promotions Industry: Telecommunications Philippines To hold onto existing mobile phone customers and win new ones, Philippine telcos must micro-target promotions for new services, in real time. The services global delivery capabilities have proven to be dynamic and flexible enough to deal with very tough market conditions. Systems and Technology rev- enue, excluding the printing business, was flat declined 3 percent adjusted for currency in 2007 versus 2006. Consider more than 50 countries— including Czech Republic, Poland, Malaysia, Singapore, South Africa, Venezuela and Mexico—in each of which we grew more than 10 percent in local currency in 2007.
Revenue performance was led by double-digit growth in application management services offerings and growth in all consulting service lines. The company, in accordance with Section 404 of the Sarbanes-Oxley Act of 2002, conducted an evaluation of its internal control over financial reporting and concluded that the internal control over financial reporting was effective as of December 31, 2007. In 2007, the company developed a road map forNet income margin 14. We offer a broad range of consulting services and provide product support services that assist customers in developing, deploying, and managing Microsoft server and desktop solutions. So the questions we are hearing are no longer about whether a smarter planet is a real possibility.
We achieved this by strong profits and cash, giving us the financial driving productivity and continuing to shift our flexibility to invest for future growth. The financial position amounts appearing on page 65 are the consolidated amounts including Global Financing. This is not expected to have a material impact to future operating results. In situations in which an outsourcing contract is terminated, the terms of the contract may require the client to reimburse the company for the recovery of unbilled accounts receivable, unamortized deferred costs incurred to purchase specific assets utilized in the delivery of services and to pay any additional costs incurred by the company to transition the services. Once again, we we are pursuing them aggressively in 2010. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Residual Value Residual value represents the estimated fair value of equipment under lease as of the end of the lease. The segment pre-tax profit margin of 26. On December 11, 2009, the Philadelphia Fed sorts its last check as operations move to the Cleveland Fed. The Software business is differentiated in the industry by both the strength of its individual products and the breadth of the software offerings. In discussions with enterprisesystems are generating can now be captured and analyzed. Windows 7, the latest version of Windows, was released to manufacturing in July 2009 and is expected to be generally available on October 22, 2009. The acquisition of Transitive Corporation Transitive was completed in the fourth quarter.