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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
The following table provides the breakdown of the investments with unrealized losses at January 28, 2007:
Less than 12 months 12 months or greater Total
Fair
Value
Gross
Unrealized
Losses Fair
Value
Gross
Unrealized
Losses Fair
Value
Gross
Unrealized
Losses
(In thousands)
Asset−backed securities $ 56,663 $ (144) $ 64,872 $ (307) $ 121,535 $ (451)
Commercial paper 37,528 (2) −− −− 37,528 (2)
Obligations of the United States
government & its agencies 28,058 (217) 31,044 (410) 59,102 (627)
United States corporate notes, bonds
and obligations 103,118 (318) 110,700 (780) 213,818 (1,098)
Total $ 225,367 $ (681) $ 206,616 $ (1,497) $ 431,983 $ (2,178)
As of January 28, 2007, we had 87 investments that were in an unrealized loss position with an average unrealized loss duration
of less than one year. The gross unrealized losses related to fixed income securities were due to changes in interest rates. We have
determined that the gross unrealized losses on investment securities at January 28, 2007 are temporary in nature. We review our
investments to identify and evaluate investments that have indications of possible impairment. Factors considered in determining
whether a loss is temporary include the length of time and extent to which fair value has been less than the cost basis, the financial
condition and near−term prospects of the investee, and our intent and ability to hold the investment for a period of time sufficient to
allow for any anticipated recovery in market value. Our investment policy requires the purchase of top−tier investment grade
securities, the diversification of asset type and certain limits on our portfolio duration.
The amortized cost and estimated fair value of cash equivalents and marketable securities classified as available−for−sale at
January 28, 2007 and January 29, 2006 by contractual maturity are shown below.
All of our marketable securities are debt instruments with the exception of $5.8 million of publicly traded equity securities at
January 28, 2007.
January 28, 2007 January 29, 2006
Amortized
Cost Estimated
Fair Value Amortized
Cost Estimated
Fair Value
(In thousands)
Less than one year $ 810,754 $ 810,081 $ 491,259 $ 491,246
Due in 1 − 5 years 257,623 256,274 364,065 361,047
Due in 6−7 years 3,238 3,201 16,692 16,459
Total $ 1,071,615 $ 1,069,556 $ 872,016 $ 868,752
80
Source: NVIDIA CORP, 10−K, March 16, 2007