Earthlink 2004 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 of the 2004 Earthlink annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

EARTHLINK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes unrealized gains and losses on the Company’s investments in marketable securities based primarily on
quoted market prices as of December 31, 2003 and 2004:
The Company believes its gross unrealized losses are temporary because management has the intent and ability to hold these investments
until maturity, at which time the Company would expect to receive the amortized cost basis of the investment based on the underlying
contractual arrangement.
The following table summarizes contractual maturities of the Company’s investments in marketable securities as of December 31, 2004:
*
The maturity of asset-backed, auction rate securities for purposes of this calculation is the date of the next auction.
78
As of December 31, 2003
As of December 31, 2004
Gross
Gross
Estimated
Gross
Gross
Estimated
Amortized
Unrealized
Unrealized
Fair
Amortized
Unrealized
Unrealized
Fair
Cost
Losses
Gains
Value
Cost
Losses
Gains
Value
(in thousands)
Short
-
term
U.S. corporate notes
$
67,319
$
(42
)
$
—
$
67,277
$
34,548
$
(96
)
$
—
$
34,452
Government agency
notes
3,100
—
—
3,100
104,493
(522
)
—
103,971
Asset-backed (including
auction rate) securities
159,786
(75
)
—
159,711
115,179
(30
)
—
115,149
$
230,205
$
(117
)
$
—
$
230,088
$
254,220
$
(648
)
$
—
$
253,572
Long
-
term
U.S. corporate notes
$
23,334
$
—
$
11
$
23,345
$
10,509
$
—
$
3
$
10,512
Government agency
notes
20,250
—
6
20,256
45,901
(182
)
—
45,719
Asset-backed (including
auction rate) securities
5,453
(17
)
—
5,436
2,270
(13
)
—
2,257
$
49,037
$
(17
)
$
17
$
49,037
$
58,680
$
(195
)
$
3
$
58,488
Total
U.S. corporate notes
$
90,653
$
(42
)
$
11
$
90,622
$
45,057
$
(96
)
$
3
$
44,964
Government agency
notes
23,350
—
6
23,356
150,394
(704
)
—
149,690
Asset-backed (including
auction rate) securities
165,239
(92
)
—
165,147
117,449
(43
)
—
117,406
$
279,242
$
(134
)
$
17
$
279,125
$
312,900
$
(843
)
$
3
$
312,060
Amortized
Estimated
Cost
Fair Value
(in thousands)
Due within one year*
$
254,220
$
253,572
Due after one year through three years
58,680
58,488
$
312,900
$
312,060