Quarterly report pursuant to Section 13 or 15(d)

Investments

v2.4.0.8
Investments
 6 Months Ended
Jun. 30, 2014
Investments  
Investments

(4)Investments

 

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

 

As of June 30, 2014

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$
401

 

$
5

 

$

—

 

$
406

 

U.S. government securities funds

 
998

 

—

 
(11

)
987

 

Equity securities

 
227

 
412

 
(8

)
631

 

Total short-term investment securities

 

$
1,626

 

$
417

 

$
(19

)

$
2,024

 

 

As of December 31, 2013

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$
403

 

$
12

 

$

—

 

$
415

 

U.S. government securities funds

 
997

 

—

 
(14

)
983

 

Equity securities

 
227

 
386

 
(5

)
608

 

Total short-term investment securities

 

$
1,627

 

$
398

 

$
(19

)

$
2,006

 

 

The municipal obligations held at a fair value of $406 at June 30, 2014, all mature in less than two years.

 

During the six-month periods ended June 30, 2014 and 2013, the proceeds from the sales of available-for-sale securities were $51 and $0, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the six-month periods ended June 30, 2014 and 2013, respectively.

 

The Company’s trading securities portfolio totaled $1,022 at June 30, 2014, and $971 at December 31, 2013, and generated gains of $44 and $33 for the six months ended June 30, 2014 and 2013.

 

As of June 30, 2014 and December 31, 2013, the Company had unrealized losses of $11 and $14, respectively, in its U.S. government securities funds. 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.