eTrade 2002 Annual Report Download - page 131
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Table of Contents
Index to Financial Statements
The contractual maturities of available-for-sale debt securities at December 31, 2002 are shown below (in thousands):
Amortized Cost Estimated Fair
Values
Due within one year $ 37,411 $ 36,548
Due within one to five years 255,763 250,555
Due within five to ten years 154,542 153,768
Due after ten years 713,663 683,140
Total $ 1,161,379 $ 1,124,011
Recognized gains and losses from the sales and other-than-temporary impairment of available-for-sale investment securities were as follows (in
thousands):
YearEnded December31, ThreeMonths
Ended December
31, 2000
YearEnded
September30, 2000
2002 2001
Bank investments:
Realized gains $ 6,586 $ 15,706 $ 540 $ 587
Realized losses (1,827 ) (1,128 ) (836 )
(68 )
Impairment charges — (13,490 )(1) — —
Net recognized gains (losses) included in
gain on sales of loans held-for-sale and
securities, net
$ 4,759 $ 1,088 $ (296 )
$ 519
Corporate investments:
Realized gains $ 144 $ 1,834 $ 3,582 $ 133,425
Realized losses (1,874 ) (6,338 ) — —
Impairment charges — (10,597 )(1) — —
Net recognized gains (losses) on
available-for-sale investments included
in gain (loss) on investments
$ (1,730 ) $ (15,101 ) $ 3,582 $ 133,425
(1) In fiscal 2001, the Company determined there had been an other-than-temporary decline in the value of certain available-for-sale
corporate investments given market conditions combined with a sustained decline in the value of some of its publicly traded equities in
technology companies during the six months ended June 30, 2001. As a result, the Company wrote down the related investments to their
fair market value, recognizing pre-tax losses of approximately $9.3 million fiscal 2001. Also included in impairment charges is an
other-than-temporary decline in the value of a Bank-held debt security.
94
2003. EDGAR Online, Inc.