UPS 2008 Annual Report Download - page 70

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
assets. This new standard requires new disclosures only, and will have no impact on our consolidated financial
position, results of operations, or cash flows. These new disclosures will be required for us beginning in our
Form 10-K for the year ending December 31, 2009.
Changes in Presentation
Certain prior year amounts have been reclassified to conform to the current year presentation.
NOTE 2. MARKETABLE SECURITIES
The following is a summary of marketable securities classified as available-for-sale at December 31, 2008
and 2007 (in millions):
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
2008
Current marketable securities:
U.S. government and agency debt securities .................... $ 93 $ 2 $— $ 95
Mortgage and asset-backed debt securities ...................... 278 3 11 270
Corporate debt securities .................................... 158 5 3 160
Other debt securities ....................................... 2 — — 2
Preferred equity securities ................................... 26 — 13 13
Common equity securities ................................... 2 — — 2
Current marketable securities .................................... 559 10 27 542
Non-current marketable securities:
Asset-backed debt securities ................................. 150 — 34 116
U.S. state and local municipal debt securities .................... 116 — 29 87
Preferred equity securities ................................... 21 — 8 13
Common equity securities ................................... 25 3 — 28
Non-current marketable securities ................................ 312 3 71 244
Total marketable securities ...................................... $871 $ 13 $ 98 $786
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
2007
U.S. government and agency debt securities ........................ $ 59 $ 2 $— $ 61
Mortgage and asset-backed debt securities .......................... 251 2 2 251
Corporate debt securities ........................................ 152 2 — 154
U.S. state and local municipal debt securities ........................ 4 — — 4
Other debt securities ........................................... 2 — — 2
Preferred equity securities ....................................... 103 — — 103
Common equity securities ....................................... 2 — — 2
Current marketable securities .................................... 573 6 2 577
Non-current common equity securities ............................. 25 8 — 33
Total marketable securities ...................................... $598 $ 14 $ 2 $610
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