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Convertible bonds are actively traded or have quoted prices. For forward exchange and currency swap contracts, fair values are estimated using industry standard valuation models. These models use market- based observable inputs including interest rate curves, foreign exchange rates, and forward and spot prices for currencies to project fair value. 

Available-for-sale financial assets include open-end mutual funds, domestic listed stocks, foreign listed stocks, and real estate investment trust fund that are actively traded or have quoted prices. 

Corporate bonds are valued using market-based observable inputs including duration, yield rate and credit rating. 

## Assets measured at fair value on a nonrecurring basis 

The tables below set out the balances for those assets required to be measured at fair value on a nonrecurring basis and the associated losses recognized during the years ended December 31, 2009 and 2010: 

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