| | | | | | | | | | | | | | | | | | | | | |
<?xml version="1.0" encoding="windows-1252"?> |
<InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"> |
| <Version> 2.2.0.25 </Version> |
| <hasSegments> false </hasSegments> |
| <hasScenarios> false </hasScenarios> |
| <ReportLongName> 111 - Disclosure - Cash and Investments </ReportLongName> |
| <DisplayLabelColumn> true </DisplayLabelColumn> |
| <ShowElementNames> false </ShowElementNames> |
| <RoundingOption/> |
| <HasEmbeddedReports> false </HasEmbeddedReports> |
| <Columns> |
| | <Column> |
| | | <Id> 1 </Id> |
| | | <IsAbstractGroupTitle> false </IsAbstractGroupTitle> |
| | | <LabelColumn> false </LabelColumn> |
| | | <CurrencyCode> USD </CurrencyCode> |
| | | <FootnoteIndexer/> |
| | | <hasSegments> false </hasSegments> |
| | | <hasScenarios> false </hasScenarios> |
| | | <MCU> |
| <KeyName> 1/1/2010 - 12/31/2010 USD ($) USD ($) / shares </KeyName> |
| <CurrencySymbol> $ </CurrencySymbol> |
| <contextRef> |
| <ContextID> eol_PE633170--1010-K0013_STD_365_20101231_0 </ContextID> |
| <EntitySchema> http://www.sec.gov/CIK </EntitySchema> |
| <EntityValue> 0001288776 </EntityValue> |
| <PeriodDisplayName/> |
| <PeriodType> duration </PeriodType> |
| <PeriodStartDate> 2010-01-01T00:00:00 </PeriodStartDate> |
| <PeriodEndDate> 2010-12-31T00:00:00 </PeriodEndDate> |
| <Segments/> |
| <Scenarios/> |
| </contextRef> |
| <UPS> |
| <UnitProperty> |
| <UnitID> iso4217_USD </UnitID> |
| <UnitType> Standard </UnitType> |
| <StandardMeasure> |
| <MeasureSchema> http://www.xbrl.org/2003/iso4217 </MeasureSchema> |
| <MeasureValue> USD </MeasureValue> |
| <MeasureNamespace> iso4217 </MeasureNamespace> |
| </StandardMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| <UnitProperty> |
| <UnitID> iso4217_USD_per_shares </UnitID> |
| <UnitType> Divide </UnitType> |
| <NumeratorMeasure> |
| <MeasureSchema> http://www.xbrl.org/2003/iso4217 </MeasureSchema> |
| <MeasureValue> USD </MeasureValue> |
| <MeasureNamespace> iso4217 </MeasureNamespace> |
| </NumeratorMeasure> |
| <DenominatorMeasure> |
| <MeasureSchema> http://www.xbrl.org/2003/instance </MeasureSchema> |
| <MeasureValue> shares </MeasureValue> |
| <MeasureNamespace/> |
| </DenominatorMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| <UnitProperty> |
| <UnitID> Day </UnitID> |
| <UnitType> Standard </UnitType> |
| <StandardMeasure> |
| <MeasureSchema> http://www.google.com/20101231 </MeasureSchema> |
| <MeasureValue> Day </MeasureValue> |
| <MeasureNamespace> goog </MeasureNamespace> |
| </StandardMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| <UnitProperty> |
| <UnitID> Year </UnitID> |
| <UnitType> Standard </UnitType> |
| <StandardMeasure> |
| <MeasureSchema> http://www.google.com/20101231 </MeasureSchema> |
| <MeasureValue> Year </MeasureValue> |
| <MeasureNamespace> goog </MeasureNamespace> |
| </StandardMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| <UnitProperty> |
| <UnitID> pure </UnitID> |
| <UnitType> Standard </UnitType> |
| <StandardMeasure> |
| <MeasureSchema> http://www.xbrl.org/2003/instance </MeasureSchema> |
| <MeasureValue> pure </MeasureValue> |
| <MeasureNamespace/> |
| </StandardMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| <UnitProperty> |
| <UnitID> shares </UnitID> |
| <UnitType> Standard </UnitType> |
| <StandardMeasure> |
| <MeasureSchema> http://www.xbrl.org/2003/instance </MeasureSchema> |
| <MeasureValue> shares </MeasureValue> |
| <MeasureNamespace/> |
| </StandardMeasure> |
| <Scale> 0 </Scale> |
| </UnitProperty> |
| </UPS> |
| <CurrencyCode> USD </CurrencyCode> |
| <OriginalCurrencyCode> USD </OriginalCurrencyCode> |
| </MCU> |
| | | <CurrencySymbol> $ </CurrencySymbol> |
| | | <Labels> |
| <Label Id="1" Label="12 Months Ended"/> |
| <Label Id="2" Label="Dec. 31, 2010"/> |
| </Labels> |
| | | </Column> |
| | </Columns> |
| <Rows> |
| | <Row> |
| | | <Id> 5 </Id> |
| | | <IsAbstractGroupTitle> false </IsAbstractGroupTitle> |
| | | <Level> 0 </Level> |
| | | <ElementName> goog_CashCashEquivalentsInvestmentsDisclosureTextBlock </ElementName> |
| | | <ElementPrefix> goog </ElementPrefix> |
| | | <IsBaseElement> false </IsBaseElement> |
| | | <BalanceType> na </BalanceType> |
| | | <PeriodType> duration </PeriodType> |
| | | <ShortDefinition> Disclosure of cash, cash equivalents and investments, including investments in debt securities, equity securities and the... </ShortDefinition> |
| | | <IsReportTitle> false </IsReportTitle> |
| | | <IsSegmentTitle> false </IsSegmentTitle> |
| | | <IsSubReportEnd> false </IsSubReportEnd> |
| | | <IsCalendarTitle> false </IsCalendarTitle> |
| | | <IsTuple> false </IsTuple> |
| | | <IsEquityPrevioslyReportedAsRow> false </IsEquityPrevioslyReportedAsRow> |
| | | <IsEquityAdjustmentRow> false </IsEquityAdjustmentRow> |
| | | <IsBeginningBalance> false </IsBeginningBalance> |
| | | <IsEndingBalance> false </IsEndingBalance> |
| | | <IsReverseSign> false </IsReverseSign> |
| | | <PreferredLabelRole/> |
| | | <FootnoteIndexer/> |
| | | <Cells> |
| <Cell> |
| <Id> 1 </Id> |
| <IsNumeric> false </IsNumeric> |
| <IsRatio> false </IsRatio> |
| <DisplayZeroAsNone> false </DisplayZeroAsNone> |
| <NumericAmount> 0 </NumericAmount> |
| <RoundedNumericAmount> 0 </RoundedNumericAmount> |
| <NonNumbericText> <div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: arial" size="2">Note 3. Cash and Investments</font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">Cash, cash equivalents, and marketable securities consist of the following (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="82%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: arial" size="1">As of December 31,</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">2009</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">2010</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Cash and cash equivalents:</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Cash</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">4,303</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">4,652</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Cash equivalents:</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">Time deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,740</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">973</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">Money market and other funds</font><font style="FONT-FAMILY: arial" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,153</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">7,547</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">300</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">Foreign government bonds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">150</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 7em"><font style="FONT-FAMILY: arial" size="2">Total cash and cash equivalents</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">10,198</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">13,630</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Marketable securities:</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Time deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,250</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">304</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Money market mutual funds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">28</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,703</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,857</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,492</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,930</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Foreign government bonds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">37</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,172</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Municipal securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,130</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,503</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,822</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,742</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Agency residential mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,578</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,673</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Commercial mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">48</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Marketable equity security</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">199</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">161</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 7em"><font style="FONT-FAMILY: arial" size="2">Total marketable securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">14,287</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">21,345</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 7em"><font style="FONT-FAMILY: arial" size="2">Total cash, cash equivalents, and marketable securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">24,485</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">34,975</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: arial" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: arial" size="2">The balance at December 31, 2010 includes $1.6 billion of cash collateral received in connection with our securities lending program, which was invested in reverse repurchase agreements maturing within three months. See below for further discussion on this program. No similar amounts were outstanding as of December 31, 2009.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> </p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">The following table summarizes unrealized gains and losses related to our investments in marketable securities designated as available-for-sale (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="65%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: arial" size="1">As of December 31, 2009</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Adjusted<br /> Cost</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Gross<br /> Unrealized<br /> Gains</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Gross<br /> Unrealized<br /> Losses</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Fair</font><br /> <font style="FONT-FAMILY: arial" size="1">Value</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Time deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,250</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,250</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Money market mutual funds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">28</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">28</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,700</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(2</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,703</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,520</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(28</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,492</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Foreign government bonds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">37</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">37</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Municipal securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,100</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">30</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,130</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,826</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">13</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(17</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,822</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Agency residential mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,585</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(12</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,578</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Commercial mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">47</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">48</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Marketable equity security</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">145</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">54</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">199</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">14,238</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">108</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(59</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">14,287</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="64%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: arial" size="1">As of December 31, 2010</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Adjusted<br /> Cost</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Gross<br /> Unrealized<br /> Gains</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Gross<br /> Unrealized<br /> Losses</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Fair</font><br /> <font style="FONT-FAMILY: arial" size="1">Value</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Time deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">304</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">304</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Money market mutual funds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,864</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,857</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,950</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">30</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(50</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">3,930</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Foreign government bonds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,154</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">23</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,172</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Municipal securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,492</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">16</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,503</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,600</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">167</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(25</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,742</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Agency residential mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,649</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">56</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(32</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,673</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Marketable equity security</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">150</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">11</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">161</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">21,166</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">304</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(125</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">)</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">21,345</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">Gross unrealized gains and losses on cash equivalents were not material at December 31, 2009 and December 31, 2010.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">We recognized gross realized gains of $118 million and $212 million for the years ended December 31, 2009 and 2010. Gross realized losses for the year ended December 31, 2009 were not material. Gross realized losses for the year ended December 31, 2010 were $27 million. We determine realized gains or losses on the sale of marketable securities on a specific identification method, and we reflect such gains and losses as a component of interest and other income, net, in our accompanying Consolidated Statements of Income.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> </p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">The following table summarizes the estimated fair value of our investments in marketable securities, excluding the marketable equity security, designated as available-for-sale and classified by the contractual maturity date of the security (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="87%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">As of<br /> December 31,<br /> 2010</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Due in 1 year</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,452</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Due in 1 year through 5 years</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">6,836</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Due in 5 years through 10 years</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,174</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Due after 10 years</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">7,722</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">21,184</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2009 and 2010, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="81%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: arial" size="1">As of December 31, 2009</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: arial" size="1">Less than 12 Months</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom" nowrap="nowrap"> <p style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 71pt"> <font style="FONT-FAMILY: arial" size="1">Security Description</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Fair Value</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Unrealized<br /> Loss</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,273</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(2</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,492</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(28</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,175</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(17</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Agency mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,040</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(12</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">5,980</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(59</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> </p> <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="80%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: arial" size="1">As of December 31, 2010</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: arial" size="1">Less than 12 Months</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom" nowrap="nowrap"> <p style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 71pt"> <font style="FONT-FAMILY: arial" size="1">Security Description</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Fair Value</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: arial" size="1">Unrealized<br /> Loss</font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government agencies</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">831</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">U.S. government notes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">2,225</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(50</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Foreign government bonds</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">129</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Municipal securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">962</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(5</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Corporate debt securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,061</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(25</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: arial" size="2">Agency mortgage-backed securities</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">1,675</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(32</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td style="BORDER-TOP: #000000 1px solid" valign="bottom"> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: arial" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">6,883</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="FONT-FAMILY: arial" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: arial" size="2">(125</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: arial" size="2">) </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td style="BORDER-TOP: #000000 3px double" valign="bottom"> </td> <td> </td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">As of December 31, 2009 and 2010, we did not have any investments in marketable securities that were in an unrealized loss position for 12 months or greater.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: arial" size="2">Auction Rate Securities</font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">At December 31, 2010, we held $153 million of auction rate securities (ARS). The assets underlying these 29 individual investments are primarily student loans which are mostly AAA rated and substantially guaranteed by the U.S. government under the Federal Family Education Loan Program. Historically, these securities have provided liquidity through a Dutch auction process that resets the applicable interest rate at pre-determined intervals every 7 to 49 days. However, these auctions began to fail in the first quarter of 2008. Since these auctions have failed, we have realized higher interest rates for many of these ARS than we would have otherwise. Although we have been receiving interest payments at these generally higher rates, the related principal amounts will not be accessible until a successful auction occurs, a buyer is found outside of the auction process, the issuer calls the security, or the security matures according to contractual terms. Maturity dates for these ARS investments range from 2025 to 2047. Since these auctions have failed, $98 million of the related securities were called at par by their issuers.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: arial" size="2">As a result of the auction failures, these ARS do not have a readily determinable market value. To estimate their fair values at December 31, 2010, we used a discounted cash flow model based on estimated interest rates, timing and amount of cash flows, the credit quality of the underlying securities, and illiquidity considerations. Specifically, we estimated the future cash flows of our ARS over the expected workout periods using a projected weighted-average interest rate of 2.6% per annum, which is based on the forward swap curve at the end of December 2010 plus any additional basis points currently paid by the issuers assuming these auctions continue to fail. A discount factor was applied over these estimated cash flows of our ARS, which is calculated based on the interpolated forward swap curve adjusted by up to 1,700 basis points to reflect the current market conditions for instruments with similar credit quality at the date of the valuation and further adjusted by up to 400 basis points to reflect a discount for the liquidity risk associated with these investments due to the lack of an active market.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">At December 31, 2010, the estimated fair value of these ARS was $20 million less than their costs. As we have no intent to sell these ARS and it is more likely than not that we will not be required to sell these ARS prior to recovery of our entire cost basis, we concluded the decline in the fair value was temporary and recorded the unrealized loss to accumulated other comprehensive income on the accompanying Consolidated Balance Sheet at December 31, 2010.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">To the extent we determine that any impairment is other-than-temporary, we would record a charge to earnings. In addition, we have concluded that the auctions for these securities may continue to fail for at least the next 12 months and as a result, we classified them as non-current assets on the accompanying Consolidated Balance Sheet at December 31, 2010.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: arial" size="2">Securities Lending Program</font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">From time to time, we enter into securities lending agreements with financial institutions to enhance investment income. We loan selected securities that are secured by collateral in the form of cash or securities. These loaned securities continued to be classified as cash equivalents or marketable securities on the accompanying Consolidated Balance Sheets. Cash collateral is invested in reverse repurchase agreements. A reverse repurchase agreement is an agreement under which a buyer agrees to purchase an asset with a simultaneous agreement to resell the same asset on a given date at a specified price. We record the cash collateral as an asset with a corresponding liability. We classify reverse repurchase agreements maturing within three months as cash equivalents and those longer than three months as receivable under reverse repurchase agreements on the accompanying Consolidated Balance Sheets. For lending agreements collateralized by securities, we do not record an asset or liability as we are not permitted to sell or repledge the associated collateral.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: arial" size="2">Investment in Marketable and Non-Marketable Equity Securities</font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: arial" size="2">In 2008, we recorded other-than-temporary impairment charges of $726 million and $355 million related to our investments in AOL and Clearwire. In 2009, we sold our investment in AOL to Time Warner Inc. for $283 million and recognized a gain of $9 million.</font></p> </div> </NonNumbericText> |
| <NonNumericTextHeader> Note 3. Cash and Investments Cash, cash equivalents, and marketable securities consist of the following </NonNumericTextHeader> |
| <FootnoteIndexer/> |
| <CurrencyCode/> |
| <CurrencySymbol/> |
| <IsIndependantCurrency> false </IsIndependantCurrency> |
| <ShowCurrencySymbol> false </ShowCurrencySymbol> |
| <DisplayDateInUSFormat> false </DisplayDateInUSFormat> |
| <hasSegments> false </hasSegments> |
| <hasScenarios> false </hasScenarios> |
| </Cell> |
| </Cells> |
| | | <OriginalInstanceReportColumns/> |
| | | <Unit> Other </Unit> |
| | | <ElementDataType> us-types:textBlockItemType </ElementDataType> |
| | | <SimpleDataType> string </SimpleDataType> |
| | | <ElementDefenition> Disclosure of cash, cash equivalents and investments, including investments in debt securities, equity securities and the securities lending program. </ElementDefenition> |
| | | <ElementReferences> No authoritative reference available. </ElementReferences> |
| | | <IsTotalLabel> false </IsTotalLabel> |
| | | <IsEPS> false </IsEPS> |
| | | <Label> Cash and Investments </Label> |
| | | </Row> |
| | </Rows> |
| <Footnotes/> |
| <NumberOfCols> 1 </NumberOfCols> |
| <NumberOfRows> 1 </NumberOfRows> |
| <ReportName> Cash and Investments </ReportName> |
| <MonetaryRoundingLevel> UnKnown </MonetaryRoundingLevel> |
| <SharesRoundingLevel> UnKnown </SharesRoundingLevel> |
| <PerShareRoundingLevel> UnKnown </PerShareRoundingLevel> |
| <ExchangeRateRoundingLevel> UnKnown </ExchangeRateRoundingLevel> |
| <HasCustomUnits> false </HasCustomUnits> |
| <SharesShouldBeRounded> true </SharesShouldBeRounded> |
| </InstanceReport> |