Texas Instruments 2012 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2012 Texas Instruments annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 58

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58

ANNUAL
REPORT
TEXAS INSTRUMENTS 2012 ANNUAL REPORT • 21
Details of our investments and related unrealized gains and losses included in AOCI are as follows:
December 31, 2012 December 31, 2011
Cash and
Cash
Equivalents Short-term
Investments Long-term
Investments
Cash and
Cash
Equivalents Short-term
Investments Long-term
Investments
Measured at fair value:
Available-for-sale securities
Money market funds . . . . . . . . . . . . . . . . . $ 211 $ — $ — $ 55 $ — $ —
Corporate obligations . . . . . . . . . . . . . . . . . 188 325 — 135 159 —
U.S. Government agency and Treasury securities . . . 795 2,224 — 430 1,691 —
Auction-rate securities . . . . . . . . . . . . . . . . — — — — — 41
Trading securities
Auction-rate securities . . . . . . . . . . . . . . . . — — — — 93 —
Mutual funds . . . . . . . . . . . . . . . . . . . . — — 159 — — 169
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,194 2,549 159 620 1,943 210
Other measurement basis:
Equity-method investments . . . . . . . . . . . . . — — 34 — — 32
Cost-method investments . . . . . . . . . . . . . . — — 22 — — 23
Cash on hand . . . . . . . . . . . . . . . . . . . . 222 — — 372 — —
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,416 $2,549 $215 $ 992 $ 1,943 $ 265
Amounts included in AOCI from
available-for-sale securities:
Unrealized gains (pre-tax) . . . . . . . . . . . . . . . . $ — $ — $ — $ — $ — $ —
Unrealized losses (pre-tax) . . . . . . . . . . . . . . . . $ — $ — $ — $ — $ — $ 5
At December 31, 2012, we had no significant unrealized losses associated with our available-for-sale investments. We have determined
that our remaining available-for-sale investments with unrealized losses are not other-than-temporarily impaired as we expect to
recover the entire cost basis of these securities. We do not intend to sell these investments, nor do we expect to be required to sell
these investments, before a recovery of the cost basis. We did not recognize any credit losses related to available-for-sale investments
for the years ended December 31, 2012 and 2011. During the third quarter of 2012, we sold all of our remaining investments in
auction-rate securities.
For the years ended December 31, 2012, 2011 and 2010, the proceeds from sales, redemptions and maturities of short-term
available-for-sale investments were $2.20 billion, $3.55 billion and $2.56 billion, respectively. Gross realized gains and losses from
these sales were not significant.
The following table presents the aggregate maturities of investments in debt securities classified as available for sale at
December 31, 2012:
Due Fair Value
One year or less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,343
One to three years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400
Gross realized gains and losses from sales of long-term investments were not significant for 2012, 2011 or 2010. Other-than-temporary
declines and impairments in the values of these investments recognized in OI&E were $7 million, $2 million and $1 million in 2012,
2011 and 2010, respectively.