THQ 2004 Annual Report Download - page 64

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Short-term investments and long-term marketable securities at March 31, 2004 and 2003 and December 31, 2002 were as follows:
Gross Gross
Unrealized Unrealized
Amortized Holding Holding Fair
(In thousands) Cost Gains Losses Value
Available-for-sale:
MARCH 31, 2004
Corporate notes and bonds $ — $ — $ — $ —
U.S. government and agencies — — — —
Total available-for-sale investments $ — $ — $ — $ —
MARCH 31, 2003
Corporate notes and bonds $ 6,346 $ — $ — $ 6,346
U.S. government and agencies 5,797 — — 5,797
Total available-for-sale investments $ 12,143 $ — $ — $ 12,143
DECEMBER 31, 2002
Corporate notes and bonds $ 22,953 $ — $ (259) $ 22,694
U.S. government and agencies 22,499 — (253) 22,246
Total available-for-sale investments $ 45,452 $ — $ (512 ) $ 44,940
Held-to-maturity (current):
MARCH 31, 2004
Corporate debt securities $ 4,800 $ — $ — $ 4,800
Municipal securities 1,002 — — 1,002
Total current held-to-maturity investments $ 5,802 $ — $ — $ 5,802
MARCH 31, 2003
Municipal securities $ 4,008 $ — $ — $ 4,008
Total held-to-maturity investments $ 4,008 $ — $ — $ 4,008
DECEMBER 31, 2002
Corporate debt securities $ 5,000 $ — $ — $ 5,000
Municipal securities 4,011 — — 4,011
Total held-to-maturity investments $ 9,011 $ — $ — $ 9,011
Held-to-maturity (long-term):
MARCH 31, 2004
Municipal securities $ 24,320 $ — $ — $ 24,320
Total long-term held-to-maturity investments $ 24,320 $ — $ — $ 24,320
During the current year we acquired municipal bonds with maturities of greater than one year for $24.3 million. These bonds are classified as held to
maturity. Investments with a maturity greater than one year, at the time of purchase are considered to be long-term assets. Our long-term marketable
securities have a maturity due date of 1-2 years as of March 31, 2004.
Fair Values of Financial Instruments. The carrying value of certain financial instruments, including cash and cash equivalents, short-term investments held
to maturity, accounts receivable, accounts payable, accrued expenses and accrued royalties approximate fair market value based on their short–term nature.
Short-term investments classified as available for sale are stated at fair value. The value of short-term investments and long-term marketable securities are
determined using quoted market prices.