AMD 2011 Annual Report Download - page 96
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The Company realized a gain of approximately $4 million on sales of available-for-sale securities of
approximately $29 million during 2011. The gain includes approximately $2 million in other income (expense),
net from redemption of auction rate securities (ARS) called at par for $21 million with a net carrying amount of
$19 million during 2011. The carrying value of the Company’s remaining ARS holdings as of December 31,
2011 was $38 million (par value $45 million). The Company has the intent and believes it has the ability to sell
these securities within the next 12 months. During 2011, the Company invested $149 million in long-term
marketable securities, which the Company intends to hold greater than one year, and does not intend to use in
current operations.
The Company realized net gains of $16 million on sales of available-for-sale securities during 2010 and
realized a $1 million gain from ARS tender activities during 2010.
All contractual maturities of the Company’s available-for-sale marketable debt securities at December 31,
2011 were within one year except those for ARS and certain long-term marketable securities. The Company’s
ARS have stated maturities ranging from January 2030 to December 2050. The Company’s long-term marketable
securities include corporate bonds and money market funds. The corporate bonds have maximum stated
maturities of 2 years, and the Company intends to invest the money market funds into corporate bonds with
maturities of greater than a year. Actual maturities may differ from contractual maturities because issuers may
have the right to call or prepay obligations without call or prepayment penalties.
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