Quarterly report pursuant to Section 13 or 15(d)

Investments

v2.4.0.8
Investments
 6 Months Ended
Jun. 30, 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 June 30, 2013

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

505

 

$

19

 

$

—

 

$

524

 

U.S. government securities funds

 

995

 

—

 

(14

)

981

 

Equity securities

 

227

 

288

 

(2

)

513

 

Total short-term investment securities

 

$

1,727

 

$

307

 

$

(16

)

$

2,018

 

 

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 $524 at June 30, 2013 all mature in less than two years.

 

During the six month periods ended June 30, 2013 and 2012, the proceeds from the maturities and sales of available-for-sale securities were $0 and $3,574, 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, 2013 and 2012, respectively.

 

The Company’s trading securities portfolio totaled $1,151 at June 30, 2013 and $1,276 at December 31, 2012, and generated losses of $12 and $26 for the three months ended June 30, 2013 and 2012, respectively, and generated gains of $33 and $60 for the six months ended June 30, 2013 and 2012, respectively.

 

As of June 30, 2013 and December 31, 2012, the Company had unrealized losses of $14 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.