General Motors 2011 Annual Report Download - page 105

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Successor
December 31, 2010
Unrealized Fair
Value
Fair Value Measurements on a Recurring Basis
Cost Gains Losses Level 1 Level 2 Level 3
Available-for-sale securities
U.S. government and agencies .............. $2,023 $— $— $2,023 $— $2,023 $—
Sovereign debt . . . . . . . . . . . . . . . . . . . . . . . . . . 773 — — 773 — 773 —
Certificates of deposit . . . . . . . . . . . . . . . . . . . . 954 — — 954 — 954 —
Corporate debt .......................... 1,670 1 2 1,669 — 1,669 —
Total available-for-sale securities ............. 5,420 1 2 5,419 — 5,419 —
Trading securities
Equity ................................. 34 5 1 38 21 17 —
Sovereigndebt .......................... 28 4 — 32 — 32 —
Otherdebt.............................. 67 1 2 66 — 66 —
Total trading securities . . . . . . . . . . . . . . . . . . . . . . 129 10 3 136 21 115 —
Total marketable securities .................. $5,549 $11 $ 5 $5,555 $21 $5,534 $—
We maintained trading securities of $84 million and $89 million as compensating balances to support letters of credit of $70 million
and $74 million at December 31, 2011 and 2010. We have access to these securities in the normal course of business; however, the
letters of credit may be withdrawn if the minimum collateral balance is not maintained.
The following table summarizes sales proceeds from investments in marketable securities classified as available-for-sale and sold
prior to maturity (dollars in millions):
Successor Predecessor
Year Ended
December 31, 2011
Year Ended
December 31, 2010
July 10, 2009
Through
December 31, 2009
January 1, 2009
Through
July 9, 2009
Sales proceeds ...................................... $1,556 $11 $3 $185
The following table summarizes the fair value of investments classified as available-for-sale securities by contractual maturity at
December 31, 2011 (dollars in millions):
Successor
Amortized
Cost
Fair
Value
Due in one year or less ....................................................................... $ 8,413 $ 8,414
Due after one year through five years ............................................................ 1,688 1,688
Total contractual maturities of available-for-sale securities ........................................... $10,101 $10,102
General Motors Company 2011 Annual Report 103