|
(4) Investments
The amortized cost and estimated fair values of available-for-sale securities by balance sheet classification are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2012
|
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
|
|
Municipal obligations
|
|
$
|
904
|
|
$
|
45
|
|
$
|
—
|
|
$
|
949
|
|
|
U.S. government securities funds
|
|
990
|
|
—
|
|
(8
|
)
|
982
|
|
|
Equity securities
|
|
227
|
|
238
|
|
(4
|
)
|
461
|
|
|
Total short-term investment securities
|
|
$
|
2,121
|
|
$
|
283
|
|
$
|
(12
|
)
|
$
|
2,392
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 $949 at March 31, 2012 all mature in less than five years.
During the three-month period ended March 31, 2012 and 2011, the proceeds from the sales of available-for-sale securities were $3,499 and $686, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the three-month period ended March 31, 2012 and 2011, respectively.
The Company’s trading securities portfolio totaled $1,444 at March 31, 2012 and $1,429 at December 31, 2011, and generated gains of $86 and $81 for the three months ended March 31, 2012 and 2011.
As of March 31, 2012 and December 31, 2011, the Company had unrealized losses of $8 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.
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