eTrade 2007 Annual Report Download - page 108
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Contractual Maturities
The contractual maturities of available-for-sale debt securities, including mortgage-backed and debt
securities, at December 31, 2007 are shown below (dollars in thousands):
Amortized
Cost
Estimated
Fair Value
Due within one year $ 12,086 $ 14,212
Due within one to five years 488 482
Due within five to ten years 78,159 76,613
Due after ten years 11,154,217 10,788,995
Total available-for-sale debt securities $11,244,950 $10,880,302
The Company pledged $10.1 billion and $11.1 billion at December 31, 2007 and 2006, respectively, of
available-for-sale securities as collateral for federal reserves, repurchase agreements and short-term borrowings.
Other-Than-Temporary Impairment of Investments
The following tables show the fair values and unrealized losses on investments, aggregated by investment
category, and the length of time that individual securities have been in a continuous unrealized loss position
(dollars in thousands):
Less than 12 Months 12 Months or More Total
Fair
Values
Unrealized
Losses
Fair
Values
Unrealized
Losses
Fair
Values
Unrealized
Losses
December 31, 2007:
Mortgage-backed securities:
Backed by U.S. Government sponsored and
Federal agencies $1,394,002 $ (6,802) $7,849,331 $(301,831) $ 9,243,333 $(308,633)
Collateralized mortgage obligations and other 537,522 (25,415) 585,629 (21,692) 1,123,151 (47,107)
Debt securities:
Municipal bonds 272,698 (4,898) 29,052 (1,333) 301,750 (6,231)
Corporate bonds — — 21,935 (3,412) 21,935 (3,412)
Other debt securities — — 76,433 (1,546) 76,433 (1,546)
Publicly traded equity securities:
Preferred stock 355,942 (134,094) — — 355,942 (134,094)
Corporate investments — — 173 (189) 173 (189)
Total temporarily impaired securities $2,560,164 $(171,209) $8,562,553 $(330,003) $11,122,717 $(501,212)
December 31, 2006:
Mortgage-backed securities:
Backed by U.S. Government sponsored and
Federal agencies $1,482,684 $ (38,671) $7,551,572 $(228,154) $ 9,034,256 $(266,825)
Collateralized mortgage obligations and other 399,779 (2,258) 640,811 (17,303) 1,040,590 (19,561)
Debt securities:
Asset-backed securities 358,628 (2,520) 629,889 (9,219) 988,517 (11,739)
Municipal bonds 58,548 (467) 28,326 (363) 86,874 (830)
Corporate bonds 765 (23) 72,661 (1,632) 73,426 (1,655)
Other debt securities — — 72,750 (5,743) 72,750 (5,743)
Publicly traded equity securities:
Preferred stock 37,663 (420) 25,971 (1,612) 63,634 (2,032)
Corporate investments 8,486 (1,386) 156 (206) 8,642 (1,592)
Total temporarily impaired securities $2,346,553 $ (45,745) $9,022,136 $(264,232) $11,368,689 $(309,977)
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