Yahoo 2004 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2004 Yahoo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

Note 7 INVESTMENTS
The following tables summarize the Company’s investments in available-for-sale securities (in thousands):
December 31, 2003
Gross Gross Gross
Amortized Unrealized Unrealized Estimated
Costs Gains Losses Fair Value
U.S. Government and agency securities $ 720,933 $ 1,044 $ (2,526) $ 719,451
Municipal bonds 8,714 – (5) 8,709
Corporate bonds 955,418 10,229 (2,232) 963,415
Auction rate securities 458,745 3 – 458,748
Corporate equity securities 4,053 942 – 4,995
Total investments in available-for-sale securities $2,147,863 $ 12,218 $ (4,763) $2,155,318
December 31, 2004
Gross Gross Gross
Amortized Unrealized Unrealized Estimated
Costs Gains Losses Fair Value
U.S. Government and agency securities $ 991,952 $ 189 $ (6,179) $ 985,962
Municipal bonds 9,160 11 (20) 9,151
Corporate bonds 1,132,667 1,670 (5,948) 1,128,389
Auction rate securities 795,037 – – 795,037
Corporate equity securities 13,611 802,730 (219) 816,122
Total investments in available-for-sale securities $2,942,427 $804,600 $(12,366) $3,734,661
December 31,
2003 2004
Reported as:
Marketable debt securities $ 893,625 $1,875,964
Marketable equity securities – 812,288
Long-term marketable debt securities 1,256,698 1,042,575
Other assets 4,995 3,834
Total $2,155,318 $3,734,661
Auction rate securities are securities that are structured with short-term reset dates of generally less than 90 days but with
maturities in excess of 90 days. At the end of the reset period, investors can sell or continue to hold the securities at par.
These securities are classified in the table below based on their legal stated maturity dates.
The contractual maturities of available-for-sale debt securities are as follows (in thousands):
December 31,
2003 2004
Due within one year $ 434,877 $1,080,927
Due after one year through five years 1,256,698 1,042,575
Due after five years 458,748 795,037
Total available-for-sale debt securities $2,150,323 $2,918,539
72