eTrade 2005 Annual Report Download - page 140

Table of Contents
Publicly Traded Equity Securities
For the years ended December31, 2005, 2004 and 2003, the Company recognized gains on sales of its publicly traded equity securities
of $82.7 million, $130.6 million and $151.7 million, respectively. In 2005, these gains included sales of the Company’s holdings in
Softbank Investment Corporation (“SBI”), all of its holdings in Archipelago Holdings
Incorporated, Ameritrade Holding Corporation and holdings in International Stock Exchange of $59.7 million, $9.8 million, $8.4 million
and $4.8 million, respectively. In 2004 and 2003, these gains primarily included sales of the Company’s holdings in SBI.
Contractual Maturities
The contractual maturities of available-for-sale debt securities, including mortgage-backed securities, at December31, 2005 are shown
below (in thousands):
Amortized
Cost
EstimatedFair
Values
Due within one year
$
3
$
3
Due within one to five years
31,371
31,369
Due within five to ten years
99,019
93,298
Due after ten years
12,270,772
11,980,425
Total available-for-sale debt securities
$
12,401,165
$
12,105,095
The Company pledged $11.8 billion at December31, 2005 and $10.1 billion at December31, 2004 of mortgage-backed securities as
collateral for repurchase agreements, short-term borrowings, derivative instruments and FHLB advances.
Realized Gains (Losses)
Realized gains and losses from the sales and other-than-temporary impairment of available-for-sale investment securities, including
mortgage-backed securities, are as follows (in thousands):
YearEnded December31,
2005
2004
2003
Mortgage-backed securities:
Realized gains
$
130,840
$
105,876
$
138,781
Realized losses
(100,765
)
(47,785
)
(47,046
)
Impairment charges
(30,924
)
(12,400
)
—
Net realized gains (losses) on mortgage-backed securities included in
gain on sales of loans and securities, net
$
(849
)
$
45,691
$
91,735
Other investments:
Realized gains
$
126,104
$
152,480
$
194,511
Realized losses
(8,878
)
(6,596
)
(21,980
)
Impairment charges
(7,419
)
(1,558
)
(2,198
)
Net realized gains included in gain on sales of loans and securities, net
and gain on sale and impairment of investments
$
109,807
$
144,326
$
170,333
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2006. EDGAR Online, Inc.