Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

“参考”所谓公允价值计量模式，就是资产和负债按照在公平交易中，熟悉情况的交易双方自愿进行资产交换或者债务清偿的金额计量。

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Everything must be done in the same way as it would be done in a truly arms-length transaction.

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It is to avoid such oversight that companies usually leave room for the price to rise in their own Kabuki-dance negotiations to show it was an arms-length transaction.

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In short, our team values are meant to reflect what a buyer would be willing to pay in an arms-length transaction and our operating income measures are meant to indicate how much cash is generated.

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