eTrade 2006 Annual Report Download - page 102
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Contractual Maturities
The contractual maturities of available-for-sale debt securities, including mortgage-backed and debt
securities, at December 31, 2006 are shown below (dollars in thousands):
Amortized
Cost
Estimated Fair
Value
Due within one year $ 20,689 $ 21,111
Due within one to five years 22,582 22,720
Due within five to ten years 118,211 112,323
Due after ten years 13,311,726 13,035,411
Total available-for-sale debt securities $13,473,208 $13,191,565
The Company pledged $11.1 billion and $11.8 billion at December 31, 2006 and 2005, respectively, of
available-for-sale securities as collateral for federal reserves, repurchase agreements and short-term borrowings.
Other-Than-Temporary Impairment of Investments
The following tables show the fair values and unrealized losses on investments, aggregated by investment
category, and the length of time that individual securities have been in a continuous unrealized loss position
(dollars in thousands):
Less than 12 Months 12 Months or More Total
Fair
Values
Unrealized
Losses
Fair
Values
Unrealized
Losses
Fair
Values
Unrealized
Losses
December 31, 2006:
Mortgage-backed securities:
Backed by U.S. Government sponsored
and Federal agencies $1,482,684 $ (38,671)$7,551,572 $(228,154)$ 9,034,256 $(266,825)
Collateralized mortgage obligations and
other 399,779 (2,258) 640,811 (17,303) 1,040,590 (19,561)
Debt securities:
Asset-backed securities 358,628 (2,520) 629,889 (9,219) 988,517 (11,739)
Municipal bonds 58,548 (467) 28,326 (363) 86,874 (830)
Corporate bonds 765 (23) 72,661 (1,632) 73,426 (1,655)
Other debt securities — — 72,750 (5,743) 72,750 (5,743)
Publicly traded equity securities:
Preferred stock 37,663 (420) 25,971 (1,612) 63,634 (2,032)
Corporate investments 8,486 (1,386) 156 (206) 8,642 (1,592)
Total temporarily impaired securities $2,346,553 $ (45,745)$9,022,136 $(264,232)$11,368,689 $(309,977)
December 31, 2005:
Mortgage-backed securities:
Backed by U.S. Government sponsored
and Federal agencies $5,914,808 $(142,245)$3,512,713 $(117,900)$ 9,427,521 $(260,145)
Collateralized mortgage obligations and
other 351,565 (5,177) 546,291 (13,829) 897,856 (19,006)
Debt securities:
Asset-backed securities 412,142 (3,064) 411,595 (9,308) 823,737 (12,372)
Municipal bonds 21,006 (165) 22,775 (717) 43,781 (882)
Corporate bonds — — 72,760 (2,171) 72,760 (2,171)
Other debt securities — — 73,485 (5,504) 73,485 (5,504)
Publicly traded equity securities:
Preferred stock 86,292 (1,171) 11,759 (971) 98,051 (2,142)
Corporate investments 246 (164) — — 246 (164)
Total temporarily impaired securities $6,786,059 $(151,986)$4,651,378 $(150,400)$11,437,437 $(302,386)
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