Quarterly report pursuant to Section 13 or 15(d)

Investments

v2.4.0.8
Investments
 3 Months Ended
Mar. 31, 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 March 31, 2014

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

402

 

$

8

 

$

—

 

$

410

 

U.S. government securities funds

 

999

 

—

 

(14

)

985

 

Equity securities

 

227

 

397

 

(7

)

617

 

Total short-term investment securities

 

$

1,628

 

$

405

 

$

(21

)

$

2,012

 

 

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 $410 at March 31, 2014, all mature in less than two years.

 

During the three-month periods ended March 31, 2014 and 2013, the proceeds from the sales of available-for-sale securities were $33 and $0, 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, 2014 and 2013, respectively.

 

The Company’s trading securities portfolio totaled $1,004 at March 31, 2014, and $971 at December 31, 2013, and generated gains of $15 and $45 for the three months ended March 31, 2014 and 2013.

 

As of March 31, 2014 and December 31, 2013, the Company had unrealized losses of $14 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.