Sallie Mae 2009 Annual Report Download - page 164
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5. Investments
A summary of investments and restricted investments as of December 31, 2009 and 2008 follows:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2009
Investments
Available-for-sale
U.S. Treasury securities and other U.S.
government agency obligations ......... $ 272 $ $ — $ 272
Other securities:
Asset-backed securities............... 110,336 306 (893) 109,749
Commercial paper and asset-backed
commercial paper . . ............... 1,149,981 — — 1,149,981
Municipal bonds ................... 9,935 1,942 — 11,877
Other ............................ 1,550 — (154) 1,396
Total investment securities available-for-sale . . $1,272,074 $2,248 $(1,047) $1,273,275
Restricted Investments
Available-for sale
U.S. Treasury securities and other U.S.
government agency obligations ....... $ 25,026 $ — $ — $ 25,026
Guaranteed investment contracts.......... 26,951 — — 26,951
Total restricted investments
available-for-sale ................... $ 51,977 $ — $ — $ 51,977
Held-to-maturity
Guaranteed investment contracts.......... $ 3,550 $ — $ — $ 3,550
Other.............................. 215 — — 215
Total restricted investments
held-to-maturity .................... $ 3,765 $ — $ — $ 3,765
F-37
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)