NVIDIA 2013 Annual Report Download - page 229

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
85
January 27, 2013
Amortized
Cost Unrealized
Gain Unrealized
Loss Estimated
Fair Value
(In thousands)
Debt securities of United States government agencies ..... $ 867,087 $ 1,199 $ (139) $ 868,147
Corporate debt securities................................................... 1,255,297 3,175 (542) 1,257,930
Mortgage backed securities issued by United States
government-sponsored enterprises.................................... 183,034 6,194 (57) 189,171
Money market funds ......................................................... 195,790 — — 195,790
Debt securities issued by United States Treasury ............. 785,228 1,102 (105) 786,225
Total................................................................................... $ 3,286,436 $ 11,670 $ (843) $ 3,297,263
Classified as:
Cash equivalents ............................................................... $ 302,166
Marketable securities ........................................................ 2,995,097
Total................................................................................... $ 3,297,263
The following table provides the breakdown of the investments with unrealized losses at January 26, 2014:
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)
Corporate debt securities............ $ 789,095 $ (87) $ 1,039,485 $ (978) $ 1,828,580 $ (1,065)
Mortgage backed securities
issued by United States
government-sponsored
enterprises .................................. 999 — 187,707 (725) 188,706 (725)
Debt securities of United States
Treasury ..................................... 88,984 (9) 407,469 (48) 496,453 (57)
Debt securities issued by United
States government agencies....... 576,920 (100) 436,407 (161) 1,013,327 (261)
Asset-backed securities.............. 119,889 (119) 137,828 (196) 257,717 (315)
Total ............................... $ 1,575,887 $ (315) $ 2,208,896 $ (2,108) $ 3,784,783 $ (2,423)
We performed an impairment review of our investment portfolio as of January 26, 2014. Factors considered included
general market conditions, the duration and extent to which fair value is below cost, and our intent and ability to hold an
investment for a sufficient period of time to allow for recovery in value. We also consider specific adverse conditions related
to the financial health of and business outlook for an investee, including industry and sector performance, changes in
technology, operational and financing cash flow factors, and changes in an investee’s credit rating. Investments that we
identify as having an indicator of impairment are subject to further analysis to determine if the investment was other than
temporarily impaired. Based on our quarterly impairment review and having considered the guidance in the relevant
accounting literature, we did not record any other-than-temporary impairment charges during fiscal year 2014. We concluded
that our investments were appropriately valued and that no other than temporary impairment charges were necessary on
our portfolio of available for sale investments as of January 26, 2014.