First Data 2009 Annual Report Download - page 242

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Chase Paymentech
NOTES TO COMBINED FINANCIAL STATEMENTS
For the years ended December 31, 2007 and 2006 and
the year ended December 31, 2005 (unaudited) (Continued)
NOTE 9—MARKETABLE AND OTHER SECURITIES
The Company’s investments include marketable securities classified as available-for-sale and carried at fair
market value, as well as $2.8 million in non-marketable equity securities at December 31, 2007 and 2006,
accounted for under the cost method. The amortized cost and estimated fair value of available-for-sale securities,
including certain highly liquid securities that are classified as cash equivalents on the combined balance sheets,
were as follows for the dates indicated (in thousands):
At December 31, 2007
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Debt securities:
U.S. Government obligations .......................... $ 5,035 $ 85 $ (1) $ 5,119
Government agency obligations ........................ 9,825 104 (43) 9,886
Corporate obligations ................................ 25,310 23 (222) 25,111
Mutual funds .......................................... 47,693 525 — 48,218
Total ................................................. $87,863 $737 $(266) $88,334
At December 31, 2006
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Debt securities:
U.S. Government obligations ......................... $ 6,052 $ 13 $ (60) $ 6,005
Government agency obligations ....................... 12,827 32 (119) 12,740
Corporate obligations ............................... 77,654 21 (25) 77,650
Mutual funds .......................................... 37,463 — (473) 36,990
Total ................................................. $133,996 $ 66 $(677) $133,385
The Company assesses the potential for other-than-temporary impairments of available-for-sale securities
each reporting period and of cost method investments whose fair values are not readily determinable when
impairment indicators are present. For the years ended December 31, 2007 and 2006, there were no declines in
the value of investments deemed to be other-than-temporary. For the year ended December 31, 2005, the
Company recognized an impairment of $126 thousand on a cost method investment for a decline in fair value
deemed to be other-than-temporary.
242