Visa 2008 Annual Report Download - page 133

Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2008
(in millions, except as noted)
Note 6—Investments
Available-for-Sale Investments
Available-for-sale investment securities, which are recorded at fair value, consist of debt securities issued by governments and government-sponsored
entities, tax-exempt municipal bonds, corporate debt securities, asset backed and mortgage backed securities, auction rate securities issued by corporations
and mutual fund investments in equity securities and other marketable equity securities. The amortized cost, unrealized gains and losses, and fair value of
available-for-sale securities are as follows:
Available-For-Sale
(in millions)
Amortized
Cost
Gross Unrealized Fair
Value Gains Losses
September 30, 2008:
Debt securities:
U.S. government-sponsored entities $ 387 $ 4 $ — $ 391
Canadian government debt securities 7 — — 7
Tax-exempt municipal bonds 5 — — 5
Corporate debt securities 45 — — 45
Other asset backed securities 23 — — 23
Mortgage backed securities 23 — (1) 22
Auction rate securities 13 — — 13
Equity securities 93 — — 93
Total $ 596 $ 4 $ (1) $ 599
Less: current portion of available-for-sale securities (355)
Long-term available-for-sale securities $ 244
Available-For-Sale
(in millions)
Amortized
Cost
Gross Unrealized Fair
Value Gains Losses
September 30, 2007:
Debt securities:
U.S. government-sponsored entities $ 1,272 $ 2 $ — $ 1,274
Tax-exempt municipal bonds 9 — — 9
Auction rate securities 152 — — 152
Equity securities 45 4 — 49
Total $ 1,478 $ 6 $ — $ 1,484
Less: current portion of available-for-sale securities (747)
Long-term available-for-sale securities $ 737
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