Amazon.com 2000 Annual Report Download - page 54

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Marketable Securities
December 31, 2000
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(in thousands)
Corporate notes and bonds .................. $ 16,063 $ 1,384 $ — $ 17,447
Asset-backed and agency securities ............ 80,748 1,982 (159) 82,571
Treasury notes and bonds ................... 134,646 7,647 (208) 142,085
Equity securities .......................... 37,434 — (1,450) 35,984
$268,891 $11,013 $ (1,817) $278,087
December 31, 1999
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(in thousands)
Commercial paper and short-term obligations .... $ 57,856 $ 8 $ (654) $ 57,210
Corporate notes and bonds .................. 105,282 — (1,438) 103,844
Asset-backed and agency securities ............ 252,874 136 (5,343) 247,667
Treasury notes and bonds ................... 169,021 32 (4,895) 164,158
$585,033 $ 176 $(12,330) $572,879
The following table summarizes contractual maturities of the Company’s marketable fixed-income
securities as of December 31, 2000:
Amortized
Cost
Estimated
Fair Value
(in thousands)
Due within one year .......................................... $ 40,504 $ 43,306
Due after one year through five years ............................. 110,205 116,226
Asset-backed and agency securities with various maturities ............. 80,748 82,571
$231,457 $242,103
Gross gains of $7 million and $7 million and gross losses of $11 million and $15 million were realized on
sales of available-for-sale marketable securities for the years ended December 31, 2000 and 1999, respectively.
During the year ended December 31, 2000, the Company recorded non-cash impairment losses, which
totaled $189 million, relating to other-than-temporary declines in its equity investments in Audible, Inc.,
Nextcard, Inc., Ashford.com, Inc., Webvan Group, Inc., Greg Manning Auctions, Inc., and Sotheby’s Holdings,
Inc. These impairment losses were recorded to reflect each investment at its fair value. No such impairment-
related losses were reported in 1999 and 1998.
AMAZON.COM, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
46