First Data 2009 Annual Report Download - page 243

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)
The following table presents unrealized losses and fair value for securities that were in an unrealized loss
position, including certain highly liquid securities classified as cash equivalents on the combined balance sheets,
at December 31, 2007 and 2006 (in thousands):
At December 31, 2007
Less than 12 Months 12 Months or Greater Total
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Debt securities:
U.S. Government obligations ....... $ — $— $1,008 $ (1) $1,008 $ (1)
Government agency obligations ..... — — 1,958 (43) 1,958 (43)
Corporate obligations ............. 1,130 (220) 56 (2) 1,186 (222)
Total .............................. $1,130 $(220) $3,022 $(46) $4,152 $(266)
At December 31, 2006
Less than 12 Months 12 Months or Greater Total
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Debt securities:
U.S. Government obligations ....... $ 501 $ (2) $ 3,480 $ (58) $ 3,981 $ (60)
Government agency obligations ..... 632 (1) 7,118 (118) 7,750 (119)
Corporate obligations ............. 4,113 (1) 2,984 (24) 7,097 (25)
Mutual Funds ....................... — — 36,990 (473) 36,990 (473)
Total .............................. $5,246 $ (4) $50,572 $(673) $55,818 $(677)
As the Company has both the intent and ability to hold securities with unrealized losses until a recovery of
fair value, which may be at maturity, the Company does not consider such securities to be other-than-temporarily
impaired at December 31, 2007. Realized gains and losses from sales of available-for-sale securities were $57
thousand and $1.2 million, respectively, during 2007. There were no significant realized gains and losses from
sales of available-for-sale securities during 2006 or 2005.
The cost and estimated fair value of the Company’s debt securities (including certain highly liquid securities
that are classified as cash equivalents in the combined balance sheets) are shown below by contractual maturity
(in thousands). Expected maturities may differ from contractual maturities based on the Company’s investment
policies.
2007 2006
Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less ................................... $29,291 $29,310 $71,370 $71,357
Due in one through five years .............................. 5,614 5,761 17,158 17,089
Due in five through ten years .............................. 1,258 1,245 1,478 1,468
Due after ten years ...................................... 4,007 3,800 6,527 6,481
Total ................................................. $40,170 $40,116 $96,533 $96,395
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