ServiceMagic 2009 Annual Report Download - page 89

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Table of Contents
IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 6—MARKETABLE SECURITIES (Continued)
The following table summarizes those investments with unrealized losses at December 31, 2009 that have been in a continuous unrealized
loss position for less than twelve months and those in a continuous unrealized loss position for twelve months or longer (in thousands):
Substantially all of the Company's fixed income securities are rated investment grade or better. The gross unrealized losses related to fixed
income securities were due primarily to changes in credit quality of the security or interest rates. Because the Company does not intend to sell
any marketable securities and it is not more likely than not that the Company will be required to sell any marketable securities before recovery of
their amortized cost bases, which may be maturity, the Company does not consider any of its marketable securities to be other-than-temporarily
impaired at December 31, 2009.
During the year ended December 31, 2009, $0.7 million of net unrealized gains, net of tax, included within other comprehensive income at
December 31, 2008, were recognized into earnings.
At December 31, 2008, available-for-sale marketable securities were as follows (in thousands):
The proceeds from sales and maturities of available-for-sale marketable securities were $356.3 million, which resulted in gross realized
gains of $1.3 million and gross realized losses of $0.1 million for the year ended December 31, 2008.
81
Less than 12 months
12 months or longer
Total
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities
74,839
(176
)
$
519
(82
)
75,358
$
(258
)
States of the U.S. and
state political
subdivisions
4,501
(15
)
—
—
4,501
(15
)
U.S. treasuries
49,965
(2
)
—
—
49,965
(2
)
Other fixed term
obligations
—
—
688
(17
)
688
(17
)
Total
129,305
(193
)
$
1,207
(99
)
130,512
$
(292
)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Corporate debt securities
$
12,561
138
(368
)
12,331
State of the U.S. and state political subdivisions
103,476
1,413
(2
)
104,887
U.S. treasuries and government agency bonds
7,100
46
—
7,146
Other fixed term obligations
1,285
—
(
57
)
1,228
Total debt securities
124,422
1,597
(427
)
125,592
Total marketable securities
$
124,422
1,597
(427
)
125,592