SanDisk 2010 Annual Report Download - page 200

Notes To Consolidated Financial Statements
As of January 2, 2011, the Company did not elect the fair value option for any financial assets and liabilities
for which such an election would have been permitted.
Available-for-Sale Investments. Available-for-sale investments as of January 2, 2011 were as follows (in
thousands):
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss Fair Value
Fixed income securities:
U.S. Treasury and government agency
securities ............................... $ 36,015 $ 53 $ (33) $ 36,035
U.S. government-sponsored agency securities .... 24,336 85 — 24,421
Corporate notes and bonds ................... 401,182 2,689 (196) 403,675
Asset-backed securities ..................... 10,069 45 (5) 10,109
Mortgage-backed securities .................. 6,500 35 — 6,535
Municipal notes and bonds ................... 3,972,268 9,435 (13,641) 3,968,062
4,450,370 12,342 (13,875) 4,448,837
Equity investments ............................. 68,525 21,900 — 90,425
Total available-for-sale investments ........... $4,518,895 $ 34,242 $ (13,875) $ 4,539,262
Available-for-sale investments as of January 3, 2010 were as follows (in thousands):
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss Fair Value
Fixed income securities:
U.S. Treasury and government agency
securities ............................... $ 66,984 $ 90 $ (6) $ 67,068
U.S. government-sponsored agency securities .... 37,211 20 (298) 36,933
Corporate notes and bonds ................... 251,510 1,103 (664) 251,949
Asset-backed securities ..................... 27,719 175 — 27,894
Mortgage-backed securities .................. 4,986 20 — 5,006
Municipal notes and bonds ................... 1,422,126 20,581 (197) 1,442,510
1,810,536 21,989 (1,165) 1,831,360
Equity investments ............................. 70,011 15,531 — 85,542
Total available-for-sale investments ...........
$ 1,880,547 $ 37,520 $ (1,165)
$
1,916,902
The fair value and gross unrealized losses on the available-for-sale securities that have been in an unrealized
loss position, aggregated by type of investment instrument, and the length of time that individual securities have
been in a continuous unrealized loss position as of January 2, 2011, are summarized in the following table (in
thousands). Available-for-sale securities that were in an unrealized gain position have been excluded from the table.
Less than 12 months Greater than 12 months
Fair Value
Gross
Unrealized Loss Fair Value
Gross
Unrealized Loss
U.S. Treasury and government agency securities ..... $ 3,587 $ (33) $ — $ —
Corporate notes and bonds ....................... 76,499 (190) 4,346 (6)
Asset-backed securities ......................... 6,003 (5) — —
Municipal notes and bonds ....................... 1,776,140 (13,641) — —
Total .................................... $1,862,229 $ (13,869) $ 4,346 $ (6)
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