Quarterly report pursuant to Section 13 or 15(d)

Investments

v2.4.0.6
Investments
 3 Months Ended
Mar. 31, 2013
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 March 31, 2013

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

606

 

$

26

 

$

—

 

$

632

 

U.S. government securities funds

 

995

 

—

 

(8

)

987

 

Equity securities

 

227

 

267

 

(3

)

491

 

Total short-term investment securities

 

$

1,828

 

$

293

 

$

(11

)

$

2,110

 

 

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

 

 

The municipal obligations held at a fair value of $632 at March 31, 2013 all mature in less than two years.

 

During the three-month period ended March 31, 2013 and 2012, the proceeds from the sales of available-for-sale securities were $0 and $3,499, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the three-month periods ended March 31, 2013 and 2012, respectively.

 

The Company’s trading securities portfolio totaled $1,235 at March 31, 2013 and $1,276 at December 31, 2012, and generated gains of $45 and $86 for the three months ended March 31, 2013 and 2012.

 

As of March 31, 2013 and December 31, 2012, the Company had unrealized losses of $8 and $9, 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.