Stamps.com 2011 Annual Report Download - page 65

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STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
The following table summarizes realized gains and losses for the period indicated (in thousands):
On at least a quarterly basis, we evaluate our available for sale securities and record an “other-than-temporary impairment” (“OTTI”)
if we
believe their fair value is less than historical cost and it is probable that we will not collect all contractual cash flows. We did not record any
OTTI during 2011 after evaluating a number of factors including, but not limited to:
The following table summarizes our cash, cash equivalents, restricted cash and investments as of December 31, 2011 and 2010 (in thousands):
Table of Contents
Year Ended December 31,
2011
2010
2009
Realized gain
$
11
$
62
$
37
Realized loss
—
(
97
)
(5
)
Net realized gain (loss)
$
11
$
(35
)
$
32
•
How much fair value has declined below amortized cost
•
The financial condition of the issuers
•
Significant rating agency changes on the issuers
•
Our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value
December 31, 2011
Cost or
Gross
Gross
Amortized
Unrealized
Unrealized
Estimated
Cost
Gains
Losses
Fair Value
Cash and cash equivalents:
Cash
$
8,768
—
—
$
8,768
Money market
45,319
—
—
45,319
Cash and cash equivalents
54,087
—
—
54,087
Restricted cash:
Money market
500
—
—
500
Restricted cash
500
—
—
500
Short
-
term investments:
Corporate notes and bonds
1,400
6
(9
)
1,397
Short-term investments
1,400
6
(9
)
1,397
Long
-
term investments:
Corporate bonds and asset backed securities
12,084
309
(38
)
12,355
U.S. government and agency securities
1,007
17
—
1,024
Long-term investments
13,091
326
(38
)
13,379
Cash and equivalents, restricted cash and investments
$
69,078
332
(47
)
$
69,363
F
-
15