Investment Securities Available for Sale

12 Months Ended

Dec. 31, 2011

Available-for-sale Securities [Abstract]

INVESTMENTS SECURITIES AVAILABLE FOR SALE

INVESTMENT SECURITIES AVAILABLE FOR SALE

The components of investment securities available for sale at December 31, 2011 and 2010 were as follows:



	Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
2011
Marketable equity securities	$	39,692	$	38,173	$	(1,379	)	$	76,486

2010
Marketable equity securities	$	42,277	$	36,477	$	—		$	78,754

Investment securities classified as available for sale are carried at fair value, with net unrealized gains or losses included as a component of stockholders’ equity, net of taxes and non-controlling interests. The Company received proceeds of $31,643 and $28,587 and realized gains on the sale of marketable equity securities of $23,257 and $19,869 for the years ended December 31, 2011 and 2010, respectively. (See Note 1(e).)

Investment securities available for sale as of December 31, 2011 and 2010 include New Valley’s 13,891,205 shares of Ladenburg Thalmann Financial Services Inc. (“LTS”) common stock, which were carried at $34,450 and $16,253, respectively.

- Definition

Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets).

+ References

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+ Details