MasterCard 2011 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2011 MasterCard annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Maturity
(in millions) (in millions)
Financial Instrument Summary Terms
Fair Market
Value at
December 31,
2010 2011 2012 2013 2014 2015
2016 and
there-after
Municipal securities . . . Fixed Interest $315 $ 8 $ 33 $ 93 $ 69 $ 55 $ 57
Short-term bond
funds ............. Fixed /Variable Interest15161————— —
Auction rate
securities ......... Variable Interest 106 ————— 106
Total ............... $937 $ 8 $ 33 $ 93 $ 69 $ 55 $163
1Short-term bond funds of $516 million have no contractual maturity.
At December 31, 2011, we have a credit facility which provides liquidity for general corporate purposes,
including providing liquidity in the event of one or more settlement failures by the Company’s customers. This
credit facility has variable rates, which are applied to the borrowing based on terms and conditions set forth in the
agreement. We had no borrowings under this facility at December 31, 2011 or 2010. See Note 13 (Debt) to the
consolidated financial statements in Part II, Item 8 of this Report for additional information.
Equity Price Risk
The Company did not have significant equity price risk as of December 31, 2011 and 2010.
73