Visa 2014 Annual Report Download - page 106

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VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2014
Available-for-sale Investment Securities
The amortized cost, unrealized gains and losses and fair value of available-for-sale investment
securities are as follows:
September 30, 2014 September 30, 2013
Amortized
Cost
Gross Unrealized Fair
Value
Amortized
Cost
Gross Unrealized Fair
ValueGains Losses Gains Losses
(in millions)
U.S. government-sponsored
debt securities .......... $ 2,160 $ 2 $ — $ 2,162 $ 2,701 $ 3 $ — $ 2,704
U.S. Treasury
securities ............... 2,174 2 — 2,176 1,671 2 — 1,673
Equity securities ......... 15 43 — 58 14 88 (1) 101
Corporate debt
securities ............... 521 1 — 522 269 — — 269
Auction rate securities .... 7 — — 7 7 — — 7
Total .................. $ 4,877 $ 48 $ — $ 4,925 $ 4,662 $ 93 $ (1) $ 4,754
Less: current portion of
available-for-sale
investment securities ..... (1,910) (1,994)
Long-term available-for-
sale investment
securities ............... $ 3,015 $ 2,760
The available-for-sale investment securities primarily include U.S. government-sponsored debt
securities, U.S. Treasury securities and corporate debt securities. Available-for-sale debt securities are
presented below in accordance with their stated maturities. The majority of these investments, $3.0
billion, are classified as non-current, as they have stated maturities of more than one year from the
balance sheet date. However, these investments are generally available to meet short-term liquidity
needs.
Amortized Cost Fair Value
(in millions)
September 30, 2014:
Due within one year ........................................ $ 1,903 $ 1,905
Due after 1 year through 5 years ............................. 2,952 2,955
Due after 5 years through 10 years ........................... — —
Due after 10 years ......................................... 7 7
Total .................................................... $ 4,862 $ 4,867
92