Crucial 2015 Annual Report Download - page 56

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54
Cash and Investments
Cash and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:
As of September 3, 2015 August 28, 2014
Cash and
Equivalents Short-term
Investments
Long-term
Marketable
Investments(3) Total Fair
Value Cash and
Equivalents Short-term
Investments
Long-term
Marketable
Investments(3) Total Fair
Value
Cash $ 1,684 $ — $ — $ 1,684 $ 2,445 $ — $ — $ 2,445
Level 1(1)
Money market
funds 168 — — 168 1,281 — — 1,281
Marketable equity
securities — — — — — — 1 1
168 — — 168 1,281 — 1 1,282
Level 2(2)
Corporate bonds 2 616 1,261 1,879 — 154 407 561
Government
securities 58 391 254 703 — 136 284 420
Asset-backed
securities — 8 575 583 — 1 127 128
Certificates of
deposit 311 28 23 362 402 8 — 410
Commercial paper 64 191 — 255 22 85 — 107
435 1,234 2,113 3,782 424 384 818 1,626
$ 2,287 $ 1,234 $ 2,113 $ 5,634 $ 4,150 $ 384 $ 819 $ 5,353
(1) The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.
(2) The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted
market prices for similar instruments, non-binding market consensus prices that are corroborated by observable
market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform
supplemental analysis to validate information obtained from these pricing services. As of September 3, 2015, no
adjustments were made to such pricing information.
(3) The maturities of our long-term marketable securities generally range from one to four years.
Proceeds from sales of available-for-sale securities for 2015, 2014, and 2013 were $1.49 billion, $355 million, and $526
million, respectively. Gross realized gains and losses from sales of available-for-sale securities were not significant for any
period presented. As of September 3, 2015, none of our available-for-sale securities had been in a loss position for longer than
12 months.
Receivables
As of 2015 2014
Trade receivables $ 2,188 $ 2,524
Income and other taxes 116 104
Other 203 278
$ 2,507 $ 2,906
As of September 3, 2015 and August 28, 2014, other receivables included $120 million and $70 million, respectively, due
from Intel for amounts related to product design and process development activities under cost-sharing agreements for NAND
Flash memory and 3D XPoint memory. (See "Equity – Noncontrolling Interests in Subsidiaries – IMFT" note.)