SanDisk 2013 Annual Report Download - page 181

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
During the fiscal year ended December 29, 2013, the Company had no transfers of financial assets or
liabilities between Level 1 and Level 2. As of December 29, 2013 and December 30, 2012, the Company
had no financial assets or liabilities categorized as Level 3 and had not elected the fair value option for any
financial assets and liabilities for which such an election would have been permitted.
Available-for-Sale Investments. Available-for-sale investments were as follows (in thousands):
December 29, 2013 December 30, 2012
Gross Gross Gross Gross
Amortized Unrealized Unrealized Fair Amortized Unrealized Unrealized Fair
Cost Gain Loss Value Cost Gain Loss Value
U.S. Treasury
securities ...... $ 160,598 $ 21 $ (424) $ 160,195 $ 27,377 $ 9 $ — $ 27,386
U.S. government-
sponsored agency
securities ...... 8,112 10 (1) 8,121 28,339 41 (1) 28,379
International
government
securities ...... 38,492 1 (224) 38,269 153,936 13 (3) 153,946
Corporate notes and
bonds ......... 864,331 1,504 (1,565) 864,270 864,170 3,890 (938) 867,122
Asset-backed
securities ...... 226,620 114 (170) 226,564 179,356 453 — 179,809
Mortgage-backed
securities ...... 86,542 18 (554) 86,006 1,872 8 (14) 1,866
Municipal notes and
bonds ......... 3,744,138 18,931 (1,241) 3,761,828 3,665,032 22,697 (912) 3,686,817
Total available-
for-sale
investments . $ 5,128,833 $ 20,599 $ (4,179) $ 5,145,253 $ 4,920,082 $ 27,111 $ (1,868) $ 4,945,325
The fair value and gross unrealized loss on the available-for-sale securities that have been in a
continuous unrealized loss position, aggregated by type of investment instrument for 12 months or less, are
summarized in the following table (in thousands). As of December 29, 2013, the Company had an
immaterial amount of securities that have been in a continuous unrealized loss position for more than
twelve months. The unrealized loss on these securities was immaterial. Available-for-sale securities that
were in an unrealized gain position have been excluded from the table.
Gross
Fair Unrealized
Value Loss
U.S. Treasury securities ............................................ $ 136,621 $ (424)
U.S. government-sponsored agency securities .............................. 2,858 (1)
International government securities .................................... 36,265 (224)
Corporate notes and bonds .......................................... 453,671 (1,565)
Asset-backed securities ............................................. 129,855 (170)
Mortgage-backed securities .......................................... 64,811 (554)
Municipal notes and bonds .......................................... 430,620 (1,241)
Total ..................................................... $1,254,701 $ (4,179)
F-15
Annual Report