ADP 2011 Annual Report Download - page 50

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Approximately 86% of the available
-
for
-
sale securities held an AAA or AA rating at June 30, 2011, as rated by Moody
’
s, Standard &
Poor
’
s and, for Canadian securities, Dominion Bond Rating Service. All available
-
for
-
sale securities were rated as investment grade
at June 30, 2011.
The amount of collected but not yet remitted funds for the Company
’
s payroll and payroll tax filing and other services varies
significantly during the fiscal year, and averaged approximately $16,865.4 million, $15,194.5 million, and $15,162.4 million in fiscal 2011,
2010, and 2009, respectively.
The unrealized losses and fair values of available
-
for
-
sale securities that have been in an unrealized loss position for a period of less
than and greater than 12 months as of June 30, 2011 are as follows:
The unrealized losses and fair values of available
-
for
-
sale securities that have been in an unrealized loss position for a period of less
than and greater than 12 months as of June 30, 2010 are as follows:
50
Unrealized
Unrealized
losses
Fair market
losses
Fair market
Total gross
less than
value less than
greater than
value greater
unrealized
Total fair
12 months
12 months
12 months
than 12 months
losses
market value
U.S. Treasury and direct obligations of
U.S. government agencies
$
(12.1
)
$
1,049.0
$
-
$
-
$
(12.1
)
$
1,049.0
Corporate bonds
(16.9
)
945.2
-
-
(16.9
)
945.2
Asset backed securities
-
0.5
-
-
-
0.5
Commercial mortgage
-
backed securities
-
17.3
-
-
-
17.3
Municipal bonds
(0.6
)
35.0
-
-
(0.6
)
35.0
Canadian government obligations and
Canadian government agency obligations
(1.3
)
227.7
-
-
(1.3
)
227.7
Other securities
(3.7
)
242.3
-
-
(3.7
)
242.3
$
(34.6
)
$
2,517.0
$
-
$
-
$
(34.6
)
$
2,517.0
Unrealized
Unrealized
losses
Fair market
losses
Fair market
Total gross
less than
value less than
greater than
value greater
unrealized
Total fair
12 months
12 months
12 months
than 12 months
losses
market value
U.S. Treasury and direct obligations of
U.S. government agencies
$
-
$
28.0
$
(0.2
)
$
6.5
$
(0.2
)
$
34.5
Corporate bonds
(9.0
)
210.5
-
-
(9.0
)
210.5
Asset backed securities
-
2.4
-
-
-
2.4
Commercial mortgage
-
backed securities
-
2.1
-
-
-
2.1
Municipal bonds
-
10.0
-
-
-
10.0
Other securities
(1.0
)
10.6
-
-
(1.0
)
10.6
$
(10.0
)
$
263.6
$
(0.2
)
$
6.5
$
(10.2
)
$
270.1