MasterCard 2011 Annual Report Download - page 104
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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
All the securities due after ten years are ARS. Taxable short-term bond funds have been included in the
table above in the no contractual maturity category, as these investments do not have a stated maturity date;
however, the short-term bond funds have daily liquidity.
The table below summarizes the maturity ranges of the ARS portfolio, based on relative par value, as of
December 31, 2011.
Par
Amount
%of
Total
(in millions)
Due within 10 years ................................................... $ 4 5%
Due year 11 through year 20 ............................................ 7 9%
Due year 21 through year 30 ............................................ 67 86%
Total ............................................................... $78 100%
Investment Income:
Components of net investment income were as follows:
2011 2010 2009
(in millions)
Interest income .............................................. $ 44 $ 48 $ 56
Investment securities available-for-sale:
Gross realized gains ...................................... 10 9 2
Gross realized losses ...................................... (2) — —
Total investment income, net ................................... $ 52 $ 57 $ 58
Interest income primarily consists of interest income generated from cash, cash equivalents, investment
securities available-for-sale and investment securities held-to-maturity.
Note 7. Prepaid Expenses and Other Assets
Prepaid expenses and other current assets consisted of the following at December 31:
2011 2010
(in millions)
Customer and merchant incentives ......................................... $190 $215
Prepaid income taxes .................................................... 35 50
Income taxes receivable ................................................. 35 —
Other ................................................................ 144 135
Total prepaid expenses and other current assets ............................... $404 $400
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