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Table of Contents VMware, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
their effect would have been anti-dilutive. For the years ended December 31, 2012 and 2010 , 2.3 million and 0.1 million shares of restricted
stock were excluded from the diluted earnings per share calculations because their effect would have been anti-dilutive. For the year ended
December 31, 2011 , no shares of restricted stock were excluded from the diluted earnings per share calculation.
D. Investments
Investments as of December 31, 2012 and December 31, 2011 consisted of the following (tables in thousands):
Both the realized gains and realized losses on investments were not material for 2012 and 2010 . During the year ended December 31, 2011
,
a realized gain of $56.0 million was recorded in other income (expense), net for the sale of VMware’s investment in Terremark Worldwide, Inc.
All other realized gains and losses on investments were not material for the year ended December 31, 2011 . In addition, VMware evaluated its
investments as of December 31, 2012 and 2011 and determined that there were no unrealized losses that indicated an other-than-temporary
impairment. Net unrealized gains on VMware's investments compose the majority of the accumulated other comprehensive income balance on
the consolidated balance sheets as of December 31, 2012 and 2011 .
81
December 31, 2012
Cost or
Amortized Cost
Unrealized Gains
Unrealized
Losses
Aggregate
Fair Value
U.S. Government and agency obligations
$
373,863
$
1,093
$
(11
)
$
374,945
U.S. and foreign corporate debt securities
1,545,397
6,122
(537
)
1,550,982
Foreign governments and multi-national agency obligations
40,594
31
(6
)
40,619
Municipal obligations
972,867
2,653
(504
)
975,016
Asset-backed securities
1,000
—
—
1,000
Mortgage-backed securities
78,674
358
(82
)
78,950
Total investments
$
3,012,395
$
10,257
$
(1,140
)
$
3,021,512
December 31, 2011
Cost or
Amortized Cost
Unrealized Gains
Unrealized
Losses
Aggregate
Fair Value
U.S. Government and agency obligations
$
516,795
$
1,842
$
(23
)
$
518,614
U.S. and foreign corporate debt securities
1,134,009
1,404
(2,036
)
1,133,377
Foreign governments and multi-national agency obligations
58,455
30
(87
)
58,398
Municipal obligations
768,282
1,396
(437
)
769,241
Asset-backed securities
27,107
2
(23
)
27,086
Mortgage-backed securities
49,778
128
(172
)
49,734
Total investments
$
2,554,426
$
4,802
$
(2,778
)
$
2,556,450