eBay 2015 Annual Report Download - page 97

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eBay Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Note 7 — Investments
At December 31, 2015 and 2014, the estimated fair value of our short-term and long-term investments
classified as available for sale, are as follows:
December 31, 2015
Gross
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(In millions)
Short-term investments:
Restricted cash $ 28 $ — $ — $ 28
Corporate debt securities 3,302 1 (16) 3,287
Government and agency securities 55 — — 55
Equity instruments 9 920 — 929
$3,394 $ 921 $ (16) $4,299
Long-term investments:
Corporate debt securities 3,327 7 (67) 3,267
$3,327 $ 7 $ (67) $3,267
December 31, 2014
Gross
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(In millions)
Short-term investments:
Restricted cash $ 19 $ — $ — $ 19
Corporate debt securities 2,519 1 (1) 2,519
Government and agency securities 3 — — 3
Time deposits and other 152 — — 152
Equity instruments 9 1,028 — 1,037
$2,702 $1,029 $ (1) $3,730
Long-term investments:
Corporate debt securities 5,319 18 (18) 5,319
Government and agency securities 232 1 — 233
$5,551 $ 19 $ (18) $5,552
At December 31, 2015 and 2014, we held no time deposits classified as held to maturity.
At December 31, 2015, investment securities in a continuous loss position for greater than 12 months had an
estimated fair value and unrealized loss of $769 million and $40 million respectively. We had no material long-
term or short-term investments that have been in a continuous unrealized loss position for more than 12 months
as of December 31, 2014. As of December 31, 2015, these securities had a weighted average remaining duration
of approximately 12 months. Refer to “Note 19 — Accumulated Other Comprehensive Income” for amounts
reclassified to earnings from unrealized gains and losses.
F-23