Activision 2012 Annual Report Download - page 65

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47
5. Investments
The following table summarizes our short-term and long-term investments at December 31, 2012 and 2011 (amounts in millions):
At December 31, 2012
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
Value
Short-term investments:
Available-for-sale investments:
U.S. treasuries and government agency securities ..............
$387
$—
$—
$387
Corporate bonds ...................................................................
11
—
—
11
Restricted cash ..........................................................................
18
Total short-term investments .........................................................
$416
Long-term investments:
Available-for-sale investments:
Auction rate securities held through Morgan Stanley
Smith Barney LLC ..........................................................
$8
$—
$—
$8
At December 31, 2011
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
Value
Short-term investments:
Available-for-sale investments:
U.S. treasuries and government agency securities ..............
$344
$—
$—
$344
Restricted cash ..........................................................................
16
Total short-term investments .........................................................
$360
Long-term investments:
Available-for-sale investments:
Auction rate securities held through Morgan Stanley
Smith Barney LLC ..........................................................
$17
$—
$(1)
$16
The following table illustrates the gross unrealized losses on available-for-sale securities, the fair value of those securities, aggregated
by investment categories, and the length of time that they have been in a continuous unrealized loss position at December 31, 2011 (amounts in
millions):
Less than 12 months
12 months or more
Total
At December 31, 2011
Unrealized
losses
Fair
Value
Unrealized
losses
Fair
Value
Unrealized
losses
Fair
Value
Taxable auction rate securities .......................
$—
$—
$(1)
$16
$(1)
$16
The following table summarizes the contractually stated maturities of our short-term and long-term investments classified as available-
for-sale at December 31, 2012 (amounts in millions):
At December 31, 2012
Amortized
cost
Fair
Value
U.S. government agency securities and corporate bonds due in 1 year or less ................................
$398
$398
Auction rate securities due after ten years ................................................................................................
8
8
$406
$406