Qualcomm 2004 Annual Report Download - page 69

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NOTE 2. MARKETABLE SECURITIES
Marketable securities were comprised as follows (in millions):
Current Noncurrent
September 30, September 30,
2004 2003 2004 2003
Held-to-maturity:
Certificates of deposit $ — $ 5 $ — $ —
U.S. Treasury and federal agency securities — 1 70 130
Corporate bonds and notes 10 161 60 70
10 167 130 200
Available-for-sale:
U.S. Treasury and federal agency securities 520 696 — —
Foreign government bonds 8 — — —
Corporate bonds and notes 2,062 1,118 3 22
Mortgage and asset-backed securities 2,056 486 — —
Non-investment grade debt securities — 39 571 459
Equity mutual funds — — 296 —
Equity securities 112 10 653 130
4,758 2,349 1,523 611
$4,768 $2,516 $1,653 $811
As of September 30, 2004, the contractual maturities of debt securities were as follows (in millions):
Years to Maturity No Single
Less than One to Five to Greater than Maturity
One Year Five Years Ten Years Ten Years Date Total
Held-to-maturity $ 10 $ 130 $ — $— $ — $ 140
Available-for-sale 826 1,820 495 25 2,054 5,220
$836 $1,950 $495 $25 $2,054 $5,360
Securities with no single maturity date include mortgage- and asset-backed securities.
Available-for-sale securities were comprised as follows at September 30 (in millions):
Unrealized Unrealized
Cost Gains Losses Fair Value
2004
Equity securities $1,003 $ 77 $(19) $1,061
Debt securities 5,208 27 (15) $5,220
Total $6,211 $104 $(34) $6,281
2003
Equity securities $ 104 $ 37 $ (1) $ 140
Debt securities 2,758 69 (7) 2,820
Total $2,862 $106 $ (8) $2,960
The fair values of held-to-maturity debt securities at September 30, 2004 and 2003 approximate cost.
For the years ended September 30, 2004, 2003 and 2002, the Company recorded realized gains and losses on sales of available-for-sale
marketable securities as follows (in millions):
Gross Realized Gross Realized Net Realized
Gains Losses Gains
2004 $105 $(17) $88
2003 82 (13) 69
2002 23 (11) 12
QUALCOMM 65