MoneyGram 2010 Annual Report Download - page 108
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Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The Company has financial liabilities related to its forward contracts recorded at a fair value of $0.5 million and less than $0.1 million at
December 31, 2010 and 2009. Due to the immateriality of these amounts, the Company has presented the assets and liabilities associated
with its forward contracts as a net asset position in the table below. Following are the Company's financial assets recorded at fair value by
hierarchy level as of December 31:
2010
(Amounts in thousands) Level 1 Level 2 Level 3 Total
Available-for-sale investments (substantially restricted):
United States government agencies $ — $ 8,641 $ — $ 8,641
Residential mortgage-backed securities — agencies — 128,585 — 128,585
Other asset-backed securities — — 23,710 23,710
Forward contracts — 582 — 582
Total financial assets $ — $ 137,808 $ 23,710 $ 161,518
2009
(Amounts in thousands) Level 1 Level 2 Level 3 Total
Trading investments and related put options (substantially restricted) $ — $ — $ 26,951 $ 26,951
Available-for-sale investments (substantially restricted):
United States government agencies — 7,715 — 7,715
Residential mortgage-backed securities — agencies — 268,830 — 268,830
Other asset-backed securities — — 22,088 22,088
Forward contracts — 5,332 — 5,332
Total financial assets $ — $ 281,877 $ 49,039 $ 330,916
The table below provides a roll-forward of the financial assets classified in Level 3 which are measured at fair value on a recurring basis
for the years ended December 31:
2010 2009
Trading Total Trading Total
Investments Other Level 3 Investments Other Level 3
and Related Asset-Backed Financial and Related Asset-Backed Financial
(Amounts in thousands) Put Options Securities Assets Put Options Securities Assets
Beginning balance $ 26,951 $ 22,088 $ 49,039 $ 47,990 $ 29,528 $ 77,518
Realized gains 2,449 — 2,449 7,557 — 7,557
Realized losses — — — — (2) (2)
Principal paydowns (29,400) (3,711) (33,111) (32,900) (6,417) (39,317)
Other-than-temporary impairments — (334) (334) — (4,069) (4,069)
Unrealized gains — instruments still held at the reporting date — 7,632 7,632 4,304 4,557 8,861
Unrealized losses — instruments still held at the reporting date — (1,965) (1,965) — (1,509) (1,509)
Ending balance $ — $ 23,710 $ 23,710 $ 26,951 $ 22,088 $ 49,039
F-23