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Table of Contents
INTEL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 5: Available-for-Sale Investments
Available-for-sale investments as of December 27, 2008 and December 29, 2007 were as follows:
During the fourth quarter of 2008, Clearwire Corporation and Sprint Nextel Corporation combined their respective WiMAX
businesses in conjunction with additional capital contributions from Intel and other investors to form a new company that
retained the name Clearwire Corporation. The additional capital contributions included our cash investment of $1.0 billion.
Our pre-existing investment in Clearwire Corporation (old Clearwire Corporation) was converted into shares of the new
company (new Clearwire Corporation) and the additional capital contribution of $1.0 billion was invested in Clearwire
Communications, LLC (Clearwire LLC), a wholly owned subsidiary of the new Clearwire Corporation. Our investment in the
new Clearwire Corporation is accounted for as an available-for-sale investment and
74
2008
2007
Gross
Gross
Gross
Gross
Adjusted
Unrealized
Unrealized
Adjusted
Unrealized
Unrealized
(In Millions)
Cost
Gains
Losses
Fair Value
Cost
Gains
Losses
Fair Value
Floating
-
rate notes
$
6,321
$
3
$
(127
)
$
6,197
$
6,254
$
3
$
(31
)
$
6,226
Commercial paper
2,329
3
—
2,332
4,981
—
—
4,981
Non
-
U.S.
government securities
816
1
—
817
118
—
—
118
Bank time deposits
1
606
2
—
608
1,891
1
—
1,892
Corporate bonds
488
4
(12
)
480
610
2
(8
)
604
Money market fund deposits
419
—
—
419
1,824
1
—
1,825
Marketable equity securities
393
2
(43
)
352
421
616
(50
)
987
Asset
-
backed securities
374
—
(
43
)
331
937
—
(
)
914
Domestic government securities
159
—
—
159
121
—
—
121
Repurchase agreements
—
—
—
—
150
—
—
150
Total available
-
for
-
sale
investments
$
11,905
$
15
$
(225
)
$
11,695
$
17,307
$
623
$
(112
)
$
17,818
2008
2007
Carrying
Carrying
(In Millions)
Amount
Amount
Available
-
for
-
sale investments
$
11,695
$
17,818
Investments in loan participation notes (cost basis)
20
111
Cash on hand
242
253
Total
$
11,957
$
18,182
Reported as (In Millions)
2008
2007
Cash and cash equivalents
$
3,350
$
7,307
Short
-
term investments
5,331
5,490
Marketable equity securities
352
987
Other long
-
term investments
2,924
4,398
Total
$
11,957
$
18,182
1
Bank time deposits were primarily issued by institutions outside the U.S. in 2008 and 2007.