Dish Network 2011 Annual Report Download - page 114

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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-20
Unrealized Gains (Losses) on Marketable Investment Securities
As of December 31, 2011 and 2010, we had accumulated net unrealized gains of $91 million and $93 million, both net of
related tax effect, respectively, as a part of “Accumulated other comprehensive income (loss)” within “Total stockholders’
equity (deficit).” A full valuation allowance has been established against any deferred taxes that are capital in nature. The
components of our available-for-sale investments are detailed in the table below.
Marketable Marketable
Investment Investment
Securities Gains Losses Net Securities Gains Losses Net
Debt securities:
VRDNs.......................................................... 160,555$ -$ -$ -$ 1,334,081$ -$ -$ -$
ARS and MBS............................................... 46,657 848 (14,486) (13,638) 56,430 902 (12,262) (11,360)
ARS fair value election................................. 62,670 - - - 62,691 - - -
Other (including restricted)........................... 994,021 5,525 (6,565) (1,040) 832,798 9,330 (1,676) 7,654
Equity securities:
Other............................................................. 343,012 89,044 (61,934) 27,110 195,022 82,565 (8,429) 74,136
Subtotal............................................................ 1,606,915 95,417 (82,985) 12,432 2,481,022 92,797 (22,367) 70,430
Investment in DBSD North America (1)....... 839,009 78,749 - 78,749 55,823 22,926 - 22,926
Total................................................................. 2,445,924$ 174,166$ (82,985)$ 91,181$ 2,536,845$ 115,723$ (22,367)$ 93,356$
As of December 31,
(In thousands)
Unrealized
2011
Unrealized
2010
(1) Of our total investment in DBSD North America of $1.298 billion as of December 31, 2011 and $103 million as of
December 31, 2010, $839 million and $56 million, respectively, are invested in the 7.5% Convertible Senior
Secured Notes due 2009, which are accounted for as available-for-sale investments.
As of December 31, 2011, restricted and non-restricted marketable investment securities include debt securities of
$1.061 billion with contractual maturities of one year or less and $203 million with contractual maturities greater than
one year, excluding our $839 million available-for-sale investment in DBSD North America. Actual maturities may
differ from contractual maturities as a result of our ability to sell these securities prior to maturity.