INTL FCStone 2012 Annual Report Download - page 91
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PART II
ITEM 8 Financial Statements and Supplementary Data
e Company has recorded unrealized gains of $90 thousand,
net of income tax expense of $53 thousand related to U.S.
government obligations and corporate bonds classi ed as
available-for-sale securities in OCI as of September30, 2012.
e following tables summarize the amortized cost basis, the
aggregate fair value and gross unrealized holding gains and losses
of the Company’s investment securities classi ed as available-
for-sale as of September30, 2012 and September30, 2011:
September30, 2012
Amounts included in deposits with and receivables from exchange-clearing organizations:
(in millions)
Amortized Cost
UnrealizedHolding
(1) Estimated
Fair ValueGains (Losses)
U.S. government obligations $ 1,298.9 $ — $ — $ 1,298.9
Mortgage-backed securities 6.8 0.1 — 6.9
$ 1,305.7 $ 0.1 $ $ 1,305.8
(1) Unrealized gain/loss on U.S. government obligations as of September30, 2012, is less than 0.1 million.
September30, 2011
Amounts included in nancial instruments owned:
(in millions)
Amortized Cost
UnrealizedHolding
(1) Estimated
FairValueGains (Losses)
U.S. government obligations $ 0.5 $ — $ $ 0.5
Corporate bonds 5.0 — — 5.0
$ 5.5 $ $ $ 5.5
(1) Unrealized gain/loss on financial instruments owned as of September30, 2011, is less than $0.1 million.
Amounts included in deposits with and receivables from exchange-clearing organizations:
(in millions)
Amortized Cost
UnrealizedHolding Estimated
Fair ValueGains (Losses)
U.S. government obligations $ 440.6 $ 0.1 $ — $ 440.7
Mortgage-backed securities 8.3 0.2 — 8.5
$ 448.9 $ 0.3 $ $ 449.2
As of September30, 2012 and September30, 2011, investments in debt securities classi ed as available-for-sale (AFS) mature as follows:
September30, 2012
(in millions)
Due in Estimated
Fair ValueLessthan1year 1yearormore
U.S. government obligations $ 1,298.9 $ — $ 1,298.9
Mortgage-backed securities — 6.9 6.9
$ 1,298.9 $ 6.9 $ 1,305.8
September30, 2011
(in millions)
Due in Estimated
FairValueLessthan1year 1yearormore
U.S. government obligations $ 441.2 $ — $ 441.2
Corporate bonds 5.0 — 5.0
Mortgage-backed securities — 8.5 8.5
$ 446.2 $ 8.5 $ 454.7
ere were no sales of AFS Securities during years ended
September30, 2012 and September30, 2011, and as a result,
no realized gains or losses were recorded for the years ended
September30, 2012 and September30, 2011.
For the purposes of the maturity schedule, mortgage-backed
securities, which are not due at a single maturity date, have been
allocated over maturity groupings based on the expected maturity
of the underlying collateral. Mortgage-backed securities may
mature earlier than their stated contractual maturities because
of accelerated principal repayments of the underlying loans.