|
Notes to Consolidated Financial Statements
Note 4. Financial Instruments
The following is a summary of available-for-sale securities
| April 3, 2004 | March 29, 2003 | |||||||||||||||
| Amortized Cost |
Gross Unrealized Gains |
Gross Unrealized Losses |
Estimated Fair Value |
Amortized Cost |
Gross Unrealized Gains |
Gross Unrealized Losses |
Estimated Fair Value |
|||||||||
| (In thousands) | ||||||||||||||||
| Money market funds | $ 153,899 | $ — | $ — | $ 153,899 | $ 89,896 | $ — | $ — | $ 89,896 | ||||||||
| Commercial paper | 98,340 | — | — | 98,340 | 12,972 | — | — | 12,972 | ||||||||
| Corporate bonds | 209,770 | 202 | (98 | ) | 209,874 | 261,521 | 747 | (238 | ) | 262,030 | ||||||
| Auction rate securities | 277,998 | 30 | (712 | ) | 277,316 | 284,857 | — | (487 | ) | 284,370 | ||||||
| Municipal bonds | 426,203 | 2,241 | (393 | ) | 428,051 | 350,992 | 4,837 | (666 | ) | 355,163 | ||||||
| U.S. Treasury notes | 52,144 | 802 | — | 52,946 | — | — | — | — | ||||||||
| Government agency bonds | 257,554 | 3,445 | (125 | ) | 260,874 | 42,409 | 132 | (45 | ) | 42,496 | ||||||
| Investment in UMC | 239,042 | 84,984 | — | 324,026 | 208,917 | — | (29,749 | ) | 179,168 | |||||||
| Investment-other | 9 | — | — | 9 | 260 | — | — | 260 | ||||||||
| $1,714,959 | $91,704 | $(1,328 | ) | $1,805,335 | $1,251,824 | $ 5,716 | $(31,185 | ) | $1,226,355 | |||||||
| Included in: | ||||||||||||||||
| Cash and cash equivalents | $ 252,021 | $ 151,218 | ||||||||||||||
| Short-term investments | 461,617 | 461,600 | ||||||||||||||
| Long-term investments | 767,671 | 434,369 | ||||||||||||||
| Investment in UMC | 324,026 | 179,168 | ||||||||||||||
| $1,805,335 | $1,226,355 | |||||||||||||||
The amortized cost and estimated fair value of marketable debt securities (commercial paper, corporate bonds, municipal bonds, U.S. Treasury notes and government agency bonds) at April 3, 2004, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.
| Amortized Cost |
Estimated Fair Value |
||
| (In thousands) | |||
| Due in one year or less | $ 249,992 | $ 250,163 | |
| Due after one year through five years | 659,393 | 664,564 | |
| Due after five years through ten years | 80,193 | 80,699 | |
| Due after ten years | 54,433 | 54,659 | |
| $1,044,011 | $1,050,085 | ||
Certain information related to available-for-sale securities is as follows:
| 2004 | 2003 | 2002 | ||||
| (In thousands) | ||||||
| Gross realized gains on sale of available-for-sale securities | $ 7,360 | $ 5,836 | $ 9,882 | |||
| Gross realized losses on sale of available-for-sale securities | (710 | ) | (382 | ) | (310 | ) |
| Net realized gains (losses) on sale of available-for-sale securities | $ 6,650 | $ 5,454 | $ 9,572 | |||
| Amortization of (premiums)/discounts on available-for-sale securities | $(4,427 | ) | $(5,000 | ) | $ (5,195 | ) |
