eTrade 2002 Annual Report Download - page 129
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Table of Contents
Index to Financial Statements
$(11.0) million related to its banking activities and $11.0 million related to its brokerage activities in fiscal 2001, $(0.1) million related to its
banking activities in the three months ended December 31, 2000 and $0.2 million related to its banking activities in fiscal 2000. Both unrealized
and realized gains (losses) on the trading securities are recorded in gain on sales of loans held-for-sale and securities, net for banking activities
and in principal transactions for brokerage activities.
Available-for-sale investment securities
The cost basis and estimated fair values of available-for-sale investment securities at December 31, 2002 and 2001 are shown below (in
thousands):
Amortized Cost Gross Unrealized
Gains Gross Unrealized Losses Estimated Fair
Values
December 31, 2002:
Corporate bonds $ 377,731 $ 1,124 $ (26,265 )
$ 352,590
Municipal bonds 32,005 556 — 32,561
Asset-backed securities 750,221 3,901 (16,540 )
737,582
Other debt securities 1,422 21 (165 )
1,278
Total debt securities 1,161,379 5,602 (42,970 )
1,124,011
Publicly-traded equity securities 137,383 — (722 )
136,661
Total $ 1,298,762 $ 5,602 $ (43,692 )
$ 1,260,672
December 31, 2001:
Corporate bonds $ 884,246 $ 4,033 $ (16,769 )
$ 871,510
U.S. Government agency obligations 13,297 — (1,423 )
11,874
Municipal bonds 67,136 143 (289 )
66,990
Other debt securities 24,231 203 (267 )
24,167
Total debt securities 988,910 4,379 (18,748 )
974,541
Publicly-traded equity securities 22,205 2,557 (1,152 )
23,610
Money market funds 336 — — 336
Total $ 1,011,451 $ 6,936 $ (19,900 )
$ 998,487
Publicly-traded equity securities includes preferred stock of $130.0 million in Federal National Mortgage Association and $5.0 million of the
Federal Home Loan Mortgage Corporation. Publicly-traded equity securities also include investments of $0.1 million at December 31, 2002
and $7.7 million at December 31, 2001 in mutual funds in which the Company is the sponsor.
As of December 31, 2002, the Company held, as part of its investment portfolio, $5.8 million of asset-backed securities issued by Metris Master
2003. EDGAR Online, Inc.