Adaptec 2009 Annual Report Download - page 43

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Annual Report
The composition of our cash, cash equivalents and short-term investments and long-term investment
securities, as classified in our consolidated balance sheet at December 27, 2009 is as follows:
December 27, 2009
(in thousands)
Amortized
Cost
Gross
Unrealized
Gains*
Gross
Unrealized
Losses* Fair Value
Cash and cash equivalents:
Cash ............................................. $ 29,757 $ — $ — $ 29,757
Money market funds ................................ 163,068 16 — 163,084
Total cash and cash equivalents ....................... 192,825 16 — 192,841
Short-term investments:
Money market funds ................................ 23,242 — — 23,242
US Treasury and Government Agency notes ............. 20,376 804 (1) 21,179
Corporate bonds and notes ........................... 14,760 1,426 (4) 16,182
US States and Municipal securities ..................... 7,300 25 — 7,325
Total short-term investments .......................... 65,678 2,255 (5) 67,928
Long-term investment securities:
US Treasury and Government Agency notes ............. 52,594 389 (53) 52,930
Corporate bonds and notes ........................... 108,102 669 (306) 108,465
US States and Municipal securities ..................... 1,019 2 — 1,021
Foreign Government and Agency notes ................. 30,179 123 (82) 30,220
Total long-term investment securities ................... 191,894 1,183 (441) 192,636
Total ................................................. $450,397 $3,454 $(446) $453,405
* Gross unrealized gains include accrued interest on investments of $2,129K. The remainder of the gross
unrealized gains and losses is included in the consolidated balance sheet as other comprehensive income.
December 28, 2008
(in thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses Fair Value
Cash and cash equivalents:
Cash ............................................. $ 28,626 $— $— $ 28,626
Money market funds ................................ 69,213 — — 69,213
Total cash and cash equivalents ....................... 97,839 — — 97,839
Short-term investments:
Money market funds ................................ 209,685 — — 209,685
Total short-term investments .......................... 209,685 — — 209,685
Total ................................................. $307,524 $— $— $307,524
The short-term investments of $23.2 million held at December 27, 2009 relate to shares of the Reserve
International Liquidity Fund, Ltd. (the “International Fund”) and the Reserve Primary Fund (the “Primary Fund”,
together the “Reserve Funds”). The Reserve Funds were AAA-rated money market funds which announced
redemption delays and suspended trading in September 2008, during the severe disruption in financial markets.
The Reserve Funds are in the process of liquidating their portfolio of investments, which included securities of
Lehman Brothers Holdings, Inc. (“Lehman Brothers”) which was downgraded and has filed for Chapter 11
bankruptcy protection. The Primary Fund has received an U.S. Securities and Exchange Commission order
providing that the SEC will supervise the distribution of assets from the fund. The redemptions from the
International Fund are subject to pending litigation which could cause further delay in any redemption of our
investments.
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