|
(4) Investments
The amortized cost and estimated fair values of available-for-sale securities by investment category are as follows:
|
As of September 30, 2012
|
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
|
Municipal obligations
|
|
$
|
709
|
|
$
|
36
|
|
$
|
—
|
|
$
|
745
|
|
|
U.S. government securities funds
|
|
990
|
|
—
|
|
(4
|
)
|
986
|
|
|
Equity securities
|
|
227
|
|
240
|
|
(6
|
)
|
461
|
|
|
Total short-term investment securities
|
|
$
|
1,926
|
|
$
|
276
|
|
$
|
(10
|
)
|
$
|
2,192
|
|
|
As of December 31, 2011
|
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
|
Municipal obligations
|
|
$
|
1,158
|
|
$
|
51
|
|
$
|
—
|
|
$
|
1,209
|
|
|
U.S. government securities funds
|
|
988
|
|
—
|
|
(5
|
)
|
983
|
|
|
Short-term deposits
|
|
3,104
|
|
—
|
|
—
|
|
3,104
|
|
|
Equity securities
|
|
227
|
|
159
|
|
(5
|
)
|
381
|
|
|
Total short-term investment securities
|
|
$
|
5,477
|
|
$
|
210
|
|
$
|
(10
|
)
|
$
|
5,677
|
|
The municipal obligations held at a fair value of $745 at September 30, 2012 all mature in less than three years.
During the nine month periods ended September 30, 2012 and 2011, the proceeds from the maturities and sales of available-for-sale securities were $3,689 and $5,650, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the nine month periods ended September 30, 2012 and 2011, respectively.
The Company’s trading securities portfolio totaled $1,317 at September 30, 2012 and $1,429 at December 31, 2011, and generated gains of $44 and losses of $121 for the three months ended September 30, 2012 and 2011, respectively and generated gains of $104 and losses of $46 for the nine months ended September 30, 2012 and 2011, respectively.
As of September 30, 2012 and December 31, 2011, the Company had unrealized losses of $4 and $5, respectively, in its U.S. government securities funds. These losses are due to the interest rate sensitivity of the U.S. government securities funds.
|