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Table of Contents
INTEL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Available
-for-Sale Investments
Available-for-sale investments at December 30, 2006 and December 31, 2005 were as follows:
The aggregate of individual unrealized investment losses that had been outstanding for 12 months or more were not significant
as of December 30, 2006 and December 31, 2005. Management does not believe that any of the unrealized losses represented
an other-than-temporary impairment based on its evaluation of available evidence as of December 30, 2006 and December 31,
2005.
The company sold available-for-sale securities for proceeds of approximately $2.0 billion in 2006. The gross realized gains on
these sales totaled $135 million, which included a gain of $103 million, with proceeds of $275 million, from the sale of a
portion of the company’s investment in Micron Technology, Inc. The company realized gains on third-party merger
transactions of $79 million during 2006. The recognized impairment losses on available-for-sale investments as well as gross
realized losses on sales were insignificant during 2006.
68
2006
2005
Gross
Gross
Gross
Gross
Adjusted
Unrealized
Unrealized
Estimated
Adjusted
Unrealized
Unrealized
Estimated
(In Millions)
Cost
Gains
Losses
Fair Value
Cost
Gains
Losses
Fair Value
Commercial paper
$
4,956
$
4
$
—
$
4,960
$
4,898
$
—
$
(
1
)
$
4,897
Floating rate notes
3,508
4
—
3,512
5,428
1
(1
)
5,428
Asset
-
backed securities
1,633
3
—
1,636
1,143
1
—
1,144
Bank time deposits
1
1,029
1
—
1,030
1,264
—
—
1,264
Corporate bonds
563
1
(1
)
563
464
1
—
465
Repurchase agreements
450
—
—
450
585
—
—
585
Marketable strategic equity
securities
233
165
—
398
376
161
—
537
Money market fund deposits
157
—
—
157
58
—
—
58
Non
-
U.S.
government securities
149
—
—
149
459
—
—
459
Domestic government securities
116
—
—
116
553
—
(
3
)
550
Total
available-for-sale investments
$
12,794
$
178
$
(1
)
$
12,971
$
15,228
$
164
$
(5
)
$
15,387
2006
2005
Carrying
Carrying
(In Millions)
Amount
Amount
Available
-
for
-
sale
investments
$
12,971
$
15,387
Investments in loan participation notes (cost basis)
103
373
Cash on hand
215
226
Total
$
13,289
$
15,986
Reported as (In Millions)
2006
2005
Cash and cash equivalents
$
6,598
$
7,324
Short
-
term investments
2,270
3,990
Marketable strategic equity investments
398
537
Other long
-
term investments
4,023
4,135
Total
$
13,289
$
15,986
1
Bank time deposits were primarily issued by institutions in the U.S. in 2005 and by institutions outside the U.S. in 2006.