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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
96
recognized when realized in our Consolidated Statements of Income. When we have determined that an other-than-temporary
decline in fair value has occurred, the amount of the decline that is related to a credit loss is recognized in earnings. Gains and
losses are determined using the specific identification method.
Cash, cash equivalents and short-term investments consisted of the following as of December 3, 2010 (in thousands):
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
Current assets:
Cash ...................................................................................
$
98,691
$
—
$
—
$
98,691
Cash equivalents:
Money market mutual funds ..........................................
477,259
—
—
477,259
Time deposits .................................................................
64,006
—
—
64,006
U.S. Treasury securities .................................................
68,195
1
—
68,196
Municipal securities .......................................................
350
—
—
350
Corporate bonds .............................................................
41,389
—
—
41,389
Total cash equivalents ................................................
651,199
1
—
651,200
Total cash and cash equivalents .....................................
749,890
1
—
749,891
Short-term fixed income securities:
U.S. Treasury securities .................................................
336,441
2,828
(209
)
339,060
U.S. agency securities ....................................................
229,772
778
(179
)
230,371
Municipal securities .......................................................
119,608
29
(32
)
119,605
Corporate bonds .............................................................
977,889
8,079
(1,450
)
984,518
Foreign government securities .......................................
33,079
309
(2
)
33,386
Subtotal ......................................................................
1,696,789
12,023
(1,872
)
1,706,940
Marketable equity securities ...............................................
11,196
—
(12
)
11,184
Total short-term investments ........................................
1,707,985
12,023
(1,884
)
1,718,124
Total cash, cash equivalents and short-term investments ......
$
2,457,875
$
12,024
$
(1,884
)
$
2,468,015
Cash, cash equivalents and short-term investments consisted of the following as of November 27, 2009 (in thousands):
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
Current assets:
Cash ...................................................................................
$
75,110
$
—
$
—
$
75,110
Cash equivalents:
Money market mutual funds ..........................................
884,240
—
—
884,240
Time deposits .................................................................
40,137
—
—
40,137
Total cash equivalents ................................................
924,377
—
—
924,377
Total cash and cash equivalents .....................................
999,487
—
—
999,487
Short-term fixed income securities:
U.S. Treasury securities .................................................
373,180
3,199
(1
)
376,378
U.S. agency securities ....................................................
59,447
273
—
59,720
Corporate bonds .............................................................
407,465
8,111
(1
)
415,575
Foreign government securities .......................................
47,620
666
—
48,286
Subtotal ......................................................................
887,712
12,249
(2
)
899,959
Marketable equity securities ...............................................
2,527
2,500
—
5,027
Total short-term investments ........................................
890,239
14,749
(2
)
904,986
Total cash, cash equivalents and short-term investments ......
$
1,889,726
$
14,749
$
(2
)
$
1,904,473
See Note 4 for further information regarding the fair value of our financial instruments.