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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
The following is a summary of cash equivalents and marketable securities at January 30, 2011 and January 31, 2010:
January 30, 2011
Amortized
Cost Unrealized
Gain Unrealized
Loss Estimated
Fair Value
(In thousands)
Debt securities of United States government agencies $ 531,789 $ 1,034 $ (226) $ 532,597
Corporate debt securities 925,226 3,354 (208) 928,372
Mortgage backed securities issued by United States government-sponsored enterprises 140,844 4,599 (21) 145,422
Money market funds 132,586 - - 132,586
Debt securities issued by United States Treasury 435,091 1,939 (18) 437,012
Total $2,165,536 $ 10,926 $ (473) $2,175,989
Classified as:
Cash equivalents $ 350,787
Marketable securities 1,825,202
Total $2,175,989
January 31, 2010
Amortized
Cost Unrealized
Gain Unrealized
Loss Estimated
Fair Value
(In thousands)
Debt securities of United States government agencies $ 492,628 $ 3,606 $ (29) $ 496,205
Corporate debt securities 514,200 4,064 (44) 518,220
Mortgage backed securities issued by United States government-sponsored enterprises 162,693 3,674 (13) 166,353
Money market funds 94,340 - - 94,340
Debt securities issued by United States Treasury 316,520 1,318 - 317,838
Asset-backed securities 17 - - 17
Total $1,580,397 $ 12,662 $ (86) $1,592,973
Classified as:
Cash equivalents $ 311,967
Marketable securities 1,281,006
Total $1,592,973
The following table provides the breakdown of the investments with unrealized losses at January 30, 2011:
Less than 12 months 12 months or greater Total
Fair Value
Gross
Unrealized
Losses Fair Value
Gross
Unrealized
Losses Fair Value
Gross
Unrealized
Losses
(In thousands)
Corporate debt securities $ 467,672 $ (11) $ 460,700 $ (197) $ 928,372 $ (208)
Mortgage backed securities issued by United States government-sponsored
enterprises 8,371 - 137,051 (21) 145,422 (21)
Debt securities of United States Treasury 232,007 - 205,005 (18) 437,012 (18)
Debt securities issued by United States government agencies 338,096 (77) 194,501 (149) 532,597 (226)
Total $ 1,046,146 $ (88) $ 997,257 $ (385) $2,043,403 $ (473)
We performed an impairment review of our investment portfolio as of January 30, 2011. Factors considered included general market conditions, the
duration and extent to which fair value is below cost, and our intent and ability to hold an investment for a sufficient period of time to allow for recovery in
value. We also consider specific adverse conditions related to the financial health of and business outlook for an investee, including industry and sector
performance, changes in technology, operational and financing cash flow factors, and changes in an investee’s credit rating. Investments that we identify as
having an indicator of impairment are subject to further analysis to determine if the investment was other than temporarily impaired. Based on our quarterly
impairment review and having considered the guidance in the relevant accounting literature, we did not record any other-than-temporary impairment charges
during fiscal year 2011. We concluded that our investments were appropriately valued and that no other than temporary impairment charges were necessary
on our portfolio of available for sale investments as of January 30, 2011.
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