Securities (Tables)

9 Months Ended

Sep. 30, 2012

Securities are summarized as of September 30, 2012:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Short-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	0.1	$	—	$	—	$	0.1

Total marketable securities	$	0.1	$	—	$	—	$	0.1


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Market Value
	(In millions)
Long-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	2.1	$	0.4	$	—		$	2.5
Corporate debt securities		0.1		—		—		$	0.1
Auction rate securities		36.2		—		(10.4	)		25.8

Total securities	$	38.4	$	0.4	$	(10.4	)	$	28.4

Securities are summarized as of December 25, 2011:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Short-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	0.2	$	—	$	—	$	0.2

Total marketable securities	$	0.2	$	—	$	—	$	0.2


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Market Value
	(In millions)
Long-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	1.8	$	0.4	$	—		$	2.2
Corporate debt securities		0.3		—		—		$	0.3
Auction rate securities		35.8		—		(6.0	)		29.8

Total securities	$	37.9	$	0.4	$	(6.0	)	$	32.3

Schedule Of Available-For-Sale Securities By Contractual Maturity

The following table presents the amortized cost and estimated fair market value of available-for-sale securities by contractual maturity as of September 30, 2012.


	Amortized Cost		Market Value
	(In millions)

Due in one year or less	$	0.1	$	0.1
Due after one year through three years		0.4		0.4
Due after three years through ten years		1.1		1.4
Due after ten years	$	36.9	$	26.6

	$	38.5	$	28.5

Schedule Of Roll Forward Of Amount Related To Credit Losses Recognized In Earnings

The following table presents a roll forward of the amount related to credit losses recognized in earnings during the nine months ended September 30, 2012.


	Credit Losses Recognized in Earnings
	(In millions)

Balance at beginning of period	$	14.0
Accretion of impairments included in net income		(0.4	)

Balance at end of period	$	13.6

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

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+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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