THQ 2011 Annual Report Download - page 61
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As of March 31, 2011 we had no securities classified as investments in our consolidated balance sheets. The following table
summarizes our investment securities and their related inception-to-date gross unrealized gains and (losses), as of March 31, 2011
and 2010 (amounts in thousands):
Short-term investments:
Municipal securities(1)
Corporate securities
Negotiable certificates of deposit(2)
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Long-term investments:
Municipal securities(3)
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Put option
Trading securities(4)
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$ 17,222
64,220
1,347
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$ 17,241
64,354
1,346
1,851
1,738
21,036
______________________
(1) Municipal securities classified as short-term includes bonds issued or deemed to be guaranteed by non-U.S. governments, U.S. agency securities, U.S.
Treasury securities, and local governments.
(2) Negotiable certificates of deposit consist of certificates issued by institutions outside the U.S.
(3) Municipal securities classified as long-term, consist of municipal ARS substantially all of which are backed by monoline bond insurance companies.
(4) Trading securities classified as short-term, pledged, consist of student loan ARS substantially all of which are guaranteed by the U.S. government under the
Federal Family Educational Loan Program and backed by monoline bond insurance companies.
Available-for-sale investments
At March 31, 2011 we had no investment securities classified as available-for-sale. At March 31, 2010 our portfolio of available-
for-sale investments included two investments that have been in a continuous unrealized loss position for more than 12 months;
both investments were long-term municipal ARS. The inception-to-date gross unrealized losses and fair value of these investments
at March 31, 2010 were $0.1 million and $1.9 million, respectively. These losses were temporary and attributed to the limited
liquidity of these investments.
In fiscal 2011 and 2010 we had pre-tax net unrealized gains of $2.8 million and $1.0 million on available-for-sale securities that
were included in "Accumulated other comprehensive income" in our consolidated balance sheets. In addition, in fiscal 2011 and
2010, we had a pre-tax unrealized holding loss of $0.9 million and a pre-tax unrealized holding gain of $1.7 million, respectively,
on our investment in Yuke's Co., Ltd. ("Yuke's") that is classified as available-for-sale and are included in "Other long-term assets,
net" in our consolidated balance sheets (see "Note 9 — Other Long-Term Assets").
Realized gains and losses on sales of available-for-sale securities are recognized in net income (loss) on the specific identification
basis and are included in "Interest and other income (expense), net" in our consolidated statements of operations. Pre-tax realized
gains and losses in fiscal 2011 and 2010 are shown in the table below (amounts in thousands):
Pre-tax realized gains
Pre-tax realized losses
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$ 3,366
$ 561
$ 600
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