SanDisk 2014 Annual Report Download - page 156

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SANDISK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
During the fiscal year ended December 28, 2014, the Company had no transfers of financial assets or
liabilities between Level 1 and Level 2. As of December 28, 2014 and December 29, 2013, 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 28, 2014 December 29, 2013
Gross Gross Gross Gross
Amortized Unrealized Unrealized Amortized Unrealized Unrealized
Cost Gain Loss Fair Value Cost Gain Loss Fair Value
U.S. Treasury
securities ...... $ 25,194 $ — $ (32) $ 25,162 $ 160,598 $ 21 $ (424) $ 160,195
U.S. government-
sponsored agency
securities ...... 7,511 — (18) 7,493 8,112 10 (1) 8,121
International
government
securities ...... 82,033 — (314) 81,719 38,492 1 (224) 38,269
Corporate notes and
bonds ......... 774,869 325 (2,052) 773,142 864,331 1,504 (1,565) 864,270
Asset-backed
securities ...... 171,221 42 (353) 170,910 226,620 114 (170) 226,564
Mortgage-backed
securities ...... 48,378 6 (173) 48,211 86,542 18 (554) 86,006
Municipal notes and
bonds ......... 3,124,189 9,733 (1,798) 3,132,124 3,744,138 18,931 (1,241) 3,761,828
Total available-
for-sale
investments . $ 4,233,395 $ 10,106 $ (4,740) $ 4,238,761 $ 5,128,833 $ 20,599 $ (4,179) $ 5,145,253
The fair value and gross unrealized losses on the available-for-sale securities that have been in a
continuous unrealized loss position, aggregated by type of investment instrument, and the length of time
that individual securities have been in a continuous unrealized loss position as of December 28, 2014, are
summarized in the following table (in thousands). Available-for-sale securities that were in an unrealized
gain position have been excluded from the table.
Less than 12 months Greater than 12 months
Gross Gross
Unrealized Unrealized
Fair Value Loss Fair Value Loss
U.S. Treasury securities .......................... $ 25,162 $ (32) $ — $ —
U.S. government-sponsored agency securities ........... 7,394 (18) — —
International government securities ................. 81,719 (314) — —
Corporate notes and bonds ....................... 586,903 (2,046) 2,494 (6)
Asset-backed securities .......................... 137,007 (353) — —
Mortgage-backed securities ....................... 31,954 (132) 9,518 (41)
Municipal notes and bonds ....................... 709,505 (1,796) 4,453 (2)
Total ................................... $1,579,644 $ (4,691) $ 16,465 $ (49)
F-16