Adaptec 2002 Annual Report Download - page 68

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NOTE 4. Debt Investments
The following tables summarize the Company's investments in debt securities:
December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
(in thousands) 2002 2001
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Held to maturity:
US Government Treasury and Agency notes $ 92,039 $ 50,163
Corporate bonds and notes 303,169 307,352
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
395,208 357,515
Available−for−sale:
US Government Treasury and Agency notes 94,512 86,352
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
$ 489,720 $ 443,867
==============================
Reported as:
Cash equivalents $ − $ 14,233
Short−term investments 340,826 258,609
Investments in bonds and notes 148,894 171,025
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
$ 489,720 $ 443,867
==============================
The total fair value of held−to−maturity investments at December 31, 2002 was $397.8 million (2001 − $358.1
million), with remaining maturities ranging from 1 month to 28 months.
The total fair value of available−for−sale investments at December 31, 2002 was $94.5 million (2001 − $86.3
million) with remaining maturities ranging from 22 to 25 months.
In 2002 the Company sold investments in bonds and notes with a total amortized cost of $10.1 million that
were classified as held−to−maturity. The securities were downgraded in credit quality and as a result no
longer met the Company's internal investment policy. The realized gain or loss on these sales was
immaterial.
NOTE 5. Other Investments and Assets
The components of other investments and assets are as follows:
66