Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES

v2.4.0.6
INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2012
INVESTMENT SECURITIES  
INVESTMENT SECURITIES

NOTE 7: INVESTMENT SECURITIES

 

The amortized cost and estimated fair values of available-for-sale securities by balance sheet classification are as follows:

 

As of December 31, 2012

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

608

 

$

30

 

$

—

 

$

638

 

U.S. government securities funds

 

995

 

—

 

(9

)

986

 

Equity securities

 

227

 

228

 

(8

)

447

 

Total short-term investment securities

 

$

1,830

 

$

258

 

$

(17

)

$

2,071

 

 

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 fair value of $638 at December 31, 2012, all mature in less than three years.

 

During 2012, 2011 and 2010, the proceeds from the sales of available-for-sale securities were $3,789, $7,697 and $125, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the years ended December 31, 2012, 2011 and 2010, respectively.

 

The Company’s trading securities portfolio totaled $1,276 and $1,429 at December 31, 2012 and 2011, respectively, and generated gains of $116, $16 and $158, for the years ended December 31, 2012, 2011 and 2010, respectively.

 

As of December 31, 2012 and 2011, the Company had unrealized losses of $8 and $5, respectively, in its municipal obligations, short-term deposits and equity securities investments. These losses are due to the interest rate sensitivity of the municipal obligations and the performance of the overall stock market for the equity securities.