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Investment Securities
 6 Months Ended
Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
Investment Securities
Our investment securities portfolio consists of an available-for-sale securities portfolio and a held-to-maturity securities portfolio, both of which represent interest-earning investment securities, and a non-marketable and other securities portfolio, which primarily represents investments managed as part of our funds management business.
Available-for-Sale Securities
The major components of our available-for-sale investment securities portfolio at June 30, 2014 and December 31, 2013 are as follows:
 
 
June 30, 2014
(Dollars in thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Carrying
Value
Available-for-sale securities, at fair value:
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
4,871,469

 
$
11,526

 
$
(823
)
 
$
4,882,172

U.S. agency debentures
 
3,714,346

 
41,999

 
(10,472
)
 
3,745,873

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
Agency-issued collateralized mortgage obligations—fixed rate
 
2,128,052

 
28,146

 
(13,369
)
 
2,142,829

Agency-issued collateralized mortgage obligations—variable rate
 
887,862

 
3,073

 
(23
)
 
890,912

Equity securities
 
11,950

 
629

 
(1,575
)
 
11,004

Total available-for-sale securities
 
$
11,613,679

 
$
85,373

 
$
(26,262
)
 
$
11,672,790


 
 
December 31, 2013
(Dollars in thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Carrying
Value
Available-for-sale securities, at fair value:
 
 
 
 
 
 
 
 
U.S. agency debentures
 
$
4,344,652

 
$
41,365

 
$
(40,785
)
 
$
4,345,232

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
Agency-issued mortgage-backed securities
 
2,472,528

 
17,189

 
(16,141
)
 
2,473,576

Agency-issued collateralized mortgage obligations—fixed rate
 
3,386,670

 
24,510

 
(85,422
)
 
3,325,758

Agency-issued collateralized mortgage obligations—variable rate
 
1,183,333

 
3,363

 
(123
)
 
1,186,573

Agency-issued commercial mortgage-backed securities
 
581,475

 
552

 
(17,423
)
 
564,604

Municipal bonds and notes
 
82,024

 
4,024

 
(21
)
 
86,027

Equity securities
 
4,842

 
692

 
(483
)
 
5,051

Total available-for-sale securities
 
$
12,055,524

 
$
91,695

 
$
(160,398
)
 
$
11,986,821

The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of June 30, 2014:
 
 
June 30, 2014
 
 
Less than 12 months
 
12 months or longer
 
Total
(Dollars in thousands)
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
698,273

 
$
(823
)
 
$
—

 
$
—

 
$
698,273

 
$
(823
)
U.S. agency debentures
 
200,773

 
(290
)
 
555,839

 
(10,182
)
 
756,612

 
(10,472
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Agency-issued collateralized mortgage obligations—fixed rate
 
135,122

 
(189
)
 
479,641

 
(13,180
)
 
614,763

 
(13,369
)
Agency-issued collateralized mortgage obligations—variable rate
 
75,974

 
(23
)
 
—

 
—

 
75,974

 
(23
)
Equity securities
 
7,335

 
(1,575
)
 
—

 
—

 
7,335

 
(1,575
)
Total temporarily impaired securities: (1)
 
$
1,117,477

 
$
(2,900
)
 
$
1,035,480

 
$
(23,362
)
 
$
2,152,957

 
$
(26,262
)
 
 
(1)
As of June 30, 2014, we identified a total of 81 investments that were in unrealized loss positions, of which 33 investments totaling $1.0 billion with unrealized losses of $23.4 million have been in an impaired position for a period of time greater than 12 months. As of June 30, 2014, we do not intend to sell any impaired fixed income investment securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis. Based on our analysis as of June 30, 2014, we deem all impairments to be temporary, and therefore changes in value for our temporarily impaired securities as of the same date are included in other comprehensive income. Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis.
The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of December 31, 2013:
 
 
December 31, 2013
 
 
Less than 12 months
 
12 months or longer
 
Total
(Dollars in thousands)
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
U.S. agency debentures
 
$
1,821,045

 
$
(40,785
)
 
$
—

 
$
—

 
$
1,821,045

 
$
(40,785
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Agency-issued mortgage-backed securities
 
1,480,870

 
(14,029
)
 
19,830

 
(2,112
)
 
1,500,700

 
(16,141
)
Agency-issued collateralized mortgage obligations—fixed rate
 
2,098,137

 
(79,519
)
 
134,420

 
(5,903
)
 
2,232,557

 
(85,422
)
Agency-issued collateralized mortgage obligations—variable rate
 
109,699

 
(123
)
 
—

 
—

 
109,699

 
(123
)
Agency-issued commercial mortgage-backed securities
 
464,171

 
(17,423
)
 
—

 
—

 
464,171

 
(17,423
)
Municipal bonds and notes
 
3,404

 
(21
)
 
—

 
—

 
3,404

 
(21
)
Equity securities
 
910

 
(483
)
 
—

 
—

 
910

 
(483
)
Total temporarily impaired securities 
 
$
5,978,236

 
$
(152,383
)
 
$
154,250

 
$
(8,015
)
 
$
6,132,486

 
$
(160,398
)
The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as available-for-sale as of June 30, 2014. The weighted average yield is computed using the amortized cost of fixed income investment securities, which are reported at fair value. For U.S. Treasury securities, the expected maturity is the actual contractual maturity of the notes. Expected remaining maturities for certain U.S. agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. Expected maturities for mortgage-backed securities may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. Mortgage-backed securities classified as available-for-sale typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure and prepayments in lower rate environments.
 
 
June 30, 2014
 
 
Total
 
One Year
or Less
 
After One Year to
Five Years
 
After Five Years to
Ten Years
 
After
Ten Years
(Dollars in thousands)
 
Carrying
Value
 
Weighted-
Average
Yield
 
Carrying
Value
 
Weighted-
Average
Yield
 
Carrying
Value
 
Weighted-
Average
Yield
 
Carrying
Value
 
Weighted-
Average
Yield
 
Carrying
Value
 
Weighted-
Average
Yield
U.S. treasury securities
 
$
4,882,172

 
1.11
%
 
$
50,062

 
0.12
%
 
$
4,337,387

 
1.01
%
 
$
494,723

 
2.03
%
 
$
—

 
—
%
U.S. agency debentures
 
3,745,873

 
1.62

 
590,227

 
1.47

 
2,231,645

 
1.55

 
924,001

 
1.89

 
—

 
—

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency-issued collateralized mortgage obligations - fixed rate
 
2,142,829

 
2.01

 
—

 
—

 
—

 
—

 
380,924

 
2.69

 
1,761,905

 
1.87

Agency-issued collateralized mortgage obligations - variable rate
 
890,912

 
0.71

 
—

 
—

 
—

 
—

 
—

 
—

 
890,912

 
0.71

Total
 
$
11,661,786

 
1.41

 
$
640,289

 
1.36

 
$
6,569,032

 
1.19

 
$
1,799,648

 
2.10

 
$
2,652,817

 
1.48

Held-to-Maturity Securities

During the second quarter of 2014, we re-designated certain securities from the classification of “available-for-sale” to “held-to-maturity”. The securities re-designated primarily consisted of agency-issued mortgage securities and collateralized mortgage obligations ("CMOs") with a total carrying value of $5.4 billion at June 1, 2014. At the time of re-designation the securities had net unrealized gains totaling $22.5 million, net of tax, recorded in other comprehensive income and are being amortized over the life of the securities in a manner consistent with the amortization of a premium or discount. Our decision to re-designate the securities was based on our ability and intent to hold these securities to maturity. Factors used in assessing the ability to hold these securities to maturity were future liquidity needs and sources of funding. Held-to-maturity securities are carried on the balance sheet at amortized cost and the changes in the value of these securities, other than impairment charges, are not reported on the financial statements.

The major components of our held-to-maturity investment securities portfolio at June 30, 2014 are as follows:
 
 
June 30, 2014
(Dollars in thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
Held-to-maturity securities, at cost:
 
 
 
 
 
 
 
 
U.S. agency debentures (1)
 
$
318,260

 
$
1,244

 
$
(165
)
 
$
319,339

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
Agency-issued mortgage-backed securities
 
3,051,644

 
847

 
(3,991
)
 
3,048,500

Agency-issued collateralized mortgage obligations—fixed rate
 
1,309,382

 
619

 
(8,939
)
 
1,301,062

Agency-issued collateralized mortgage obligations—variable rate
 
148,422

 
19

 
(1
)
 
148,440

Agency-issued commercial mortgage-backed securities
 
550,269

 
2,149

 
(515
)
 
551,903

Municipal bonds and notes
 
85,943

 
16

 
(207
)
 
85,752

Total held-to-maturity securities
 
$
5,463,920

 
$
4,894

 
$
(13,818
)
 
$
5,454,996

 
 
(1)
Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States.
 
The following table summarizes our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of June 30, 2014:
 
 
June 30, 2014
 
 
Less than 12 months
 
12 months or longer (1)
 
Total
(Dollars in thousands)
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
 
Fair Value of
Investments
 
Unrealized
Losses
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. agency debentures
 
$
171,001

 
$
(105
)
 
$
48,590

 
$
(60
)
 
$
219,591

 
$
(165
)
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Agency-issued mortgage-backed securities
 
2,473,332

 
(3,945
)
 
20,180

 
(46
)
 
2,493,512

 
(3,991
)
Agency-issued collateralized mortgage obligations—fixed rate
 
383,763

 
(2,035
)
 
850,606

 
(6,904
)
 
1,234,369

 
(8,939
)
Agency-issued collateralized mortgage obligations—variable rate
 
10,799

 
(1
)
 
—

 
—

 
10,799

 
(1
)
Agency-issued commercial mortgage-backed securities
 
268,818

 
(515
)
 
—

 
—

 
268,818

 
(515
)
Municipal bonds and notes
 
69,524

 
(207
)
 
—

 
—

 
69,524

 
(207
)
Total temporarily impaired securities (2):
 
$
3,377,237

 
$
(6,808
)
 
$
919,376

 
$
(7,010
)
 
$
4,296,613

 
$
(13,818
)
 
 
(1)
Represents securities in an unrealized loss position for twelve months or longer in which the amortized cost basis was re-set for those securities re-designated from AFS to HTM effective June 1, 2014.
(2)
As of June 30, 2014, we identified a total of 276 investments that were in unrealized loss positions, of which 31 investments totaling $919.4 million with unrealized losses of $7.0 million have been in an impaired position for a period of time greater than 12 months. As of June 30, 2014, we do not intend to sell any impaired fixed income investment securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis, which is consistent with our classification of these securities. Based on our analysis as of June 30, 2014, we deem all impairments to be temporary. Market valuations and impairment analyses on assets in the held-to-maturity securities portfolio are reviewed and monitored on a quarterly basis.
The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as held-to-maturity as of June 30, 2014. Interest income on certain municipal bonds and notes (non-taxable investments) are presented on a fully taxable equivalent basis using the federal statutory tax rate of 35.0 percent. The weighted average yield is computed using the amortized cost of fixed income investment securities, which are reported at fair value. Expected remaining maturities for certain U.S. agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. Expected maturities for mortgage-backed securities may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. Mortgage-backed securities classified as held-to-maturity typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure and prepayments in lower rate environments.
 
 
June 30, 2014
 
 
Total
 
One Year
or Less
 
After One Year to
Five Years
 
After Five Years to
Ten Years
 
After
Ten Years
(Dollars in thousands)
 
Amortized Cost
 
Weighted-
Average
Yield
 
Amortized Cost
 
Weighted-
Average
Yield
 
Amortized Cost
 
Weighted-
Average
Yield
 
Amortized Cost
 
Weighted-
Average
Yield
 
Amortized Cost
 
Weighted-
Average
Yield
U.S. agency debentures
 
$
318,260

 
2.93
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
318,260

 
2.93
%
 
$
—

 
—
%
Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency-issued mortgage-backed securities
 
3,051,644

 
2.42

 
—

 
—

 
47,059

 
2.43

 
949,796

 
2.19

 
2,054,789

 
2.52

Agency-issued collateralized mortgage obligations - fixed rate
 
1,309,382

 
1.64

 
—

 
—

 
—

 
—

 
—

 
—

 
1,309,382

 
1.64

Agency-issued collateralized mortgage obligations - variable rate
 
148,422

 
0.65

 
—

 
—

 
—

 
—

 
—

 
—

 
148,422

 
0.65

Agency-issued commercial mortgage-backed securities
 
550,269

 
2.20

 
—

 
—

 
—

 
—

 
—

 
—

 
550,269

 
2.20

Municipal bonds and notes
 
85,943

 
5.99

 
3,351

 
5.42

 
26,510

 
5.80

 
43,369

 
6.06

 
12,713

 
6.29

Total
 
$
5,463,920

 
2.25

 
$
3,351

 
5.42

 
$
73,569

 
3.65

 
$
1,311,425

 
2.49

 
$
4,075,575

 
2.14

Non-marketable and Other Securities
The major components of our non-marketable and other investment securities portfolio at June 30, 2014 are as follows:
(Dollars in thousands)
 
June 30, 2014
 
December 31, 2013
Non-marketable and other securities:
 
 
 
 
Non-marketable securities (fair value accounting):
 
 
 
 
Venture capital and private equity fund investments (1)
 
$
1,040,522

 
$
862,972

Other venture capital investments (2)
 
43,747

 
32,839

Other securities (fair value accounting) (3)
 
281,639

 
321,374

Non-marketable securities (equity method accounting):
 
 
 
 
Other investments (4)
 
137,845

 
142,883

Low income housing tax credit funds
 
95,395

 
72,241

Non-marketable securities (cost method accounting):
 
 
 
 
Venture capital and private equity fund investments (5)
 
142,136

 
148,994

Other investments
 
15,951

 
14,191

Total non-marketable and other securities
 
$
1,757,235

 
$
1,595,494

 
(1)
The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at June 30, 2014 and December 31, 2013 (fair value accounting):
 
 
June 30, 2014
 
December 31, 2013
(Dollars in thousands)
 
Amount
 
Ownership %
 
Amount
 
Ownership %
SVB Strategic Investors Fund, LP
 
$
27,075

 
12.6
%
 
$
29,104

 
12.6
%
SVB Strategic Investors Fund II, LP
 
92,617

 
8.6

 
96,185

 
8.6

SVB Strategic Investors Fund III, LP
 
257,489

 
5.9

 
260,272

 
5.9

SVB Strategic Investors Fund IV, LP
 
307,600

 
5.0

 
226,729

 
5.0

Strategic Investors Fund V Funds
 
191,024

 
Various

 
118,181

 
Various

Strategic Investors Fund VI Funds
 
38,879

 
0.2

 
7,944

 
0.2

SVB Capital Preferred Return Fund, LP
 
61,573

 
20.0

 
59,028

 
20.0

SVB Capital—NT Growth Partners, LP
 
63,026

 
33.0

 
61,126

 
33.0

SVB Capital Partners II, LP (i)
 
595

 
5.1

 
708

 
5.1

Other private equity fund (ii)
 
644

 
58.2

 
3,695

 
58.2

Total venture capital and private equity fund investments
 
$
1,040,522

 
 
 
$
862,972

 
 
 
 
(i)
At June 30, 2014, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP.
(ii)
At June 30, 2014, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively.
(2)
The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at June 30, 2014 and December 31, 2013 (fair value accounting):
 
 
June 30, 2014
 
December 31, 2013
(Dollars in thousands)
 
Amount
 
Ownership %
 
Amount
 
Ownership %
Silicon Valley BancVentures, LP
 
$
6,177

 
10.7
%
 
$
6,564

 
10.7
%
SVB Capital Partners II, LP (i)
 
18,471

 
5.1

 
22,684

 
5.1

Capital Partners III, LP
 
15,000

 
0.4

 
—

 
—

SVB Capital Shanghai Yangpu Venture Capital Fund
 
4,099

 
6.8

 
3,591

 
6.8

Total other venture capital investments
 
$
43,747

 
 
 
$
32,839

 
 
 
 
(i)
At June 30, 2014, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP.

(3)
Investments classified as other securities (fair value accounting) represent direct equity investments in public companies held by our consolidated funds. At June 30, 2014, the amount primarily includes total unrealized gains of $193.9 million in one public company, FireEye, Inc. ("FireEye"). The extent to which any unrealized gains (or losses) will become realized is subject to a variety of factors, including among other things, changes in prevailing market prices and the timing of any sales or distribution of securities, which are subject to our securities sales and governance processes and may also be constrained by lock-up agreements. None of the FireEye related investments currently are subject to a lock-up agreement.
(4)
The following table shows the carrying value and our ownership percentage of each investment at June 30, 2014 and December 31, 2013 (equity method accounting):
 
 
June 30, 2014
 
December 31, 2013
(Dollars in thousands)
 
Amount
 
Ownership %
 
Amount
 
Ownership %
Gold Hill Capital 2008, LP (i)
 
$
20,474

 
15.5
%
 
$
21,867

 
15.5
%
China Joint Venture investment
 
79,182

 
50.0

 
79,940

 
50.0

Other investments
 
38,189

 
Various

 
41,076

 
Various

Total other investments (equity method accounting)
 
$
137,845

 
 
 
$
142,883

 
 
 
 
(i)
At June 30, 2014, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent.
(5)
Represents investments in 282 and 288 funds (primarily venture capital funds) at June 30, 2014 and December 31, 2013, respectively, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $142 million, and $230 million, respectively, as of June 30, 2014. The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $149 million and $215 million, respectively, as of December 31, 2013.
The following table presents the components of gains and losses (realized and unrealized) on investment securities for the three and six months ended June 30, 2014 and 2013:
 
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2014
 
2013
 
2014
 
2013
Gross gains on investment securities:
 
 
 
 
 
 
 
 
Available-for-sale securities, at fair value (1)
 
$
224

 
$
2,850

 
$
597

 
$
2,850

Non-marketable securities (fair value accounting):
 
 
 
 
 
 
 
 
Venture capital and private equity fund investments
 
88,003

 
44,339

 
199,439

 
71,720

Other venture capital investments
 
1,973

 
200

 
4,555

 
2,840

Other securities (fair value accounting) (2)
 
13,816

 
2,427

 
130,566

 
4,345

Non-marketable securities (equity method accounting):
 
 
 
 
 
 
 
 
Other investments
 
2,886

 
4,754

 
6,528

 
7,469

Non-marketable securities (cost method accounting):
 
 
 
 
 
 
 
 
Venture capital and private equity fund investments
 
1,762

 
767

 
5,065

 
1,790

Other investments
 
5,021

 
191

 
5,155

 
336

Total gross gains on investment securities
 
113,685

 
55,528

 
351,905

 
91,350

Gross losses on investment securities:
 
 
 
 
 
 
 
 
Available-for-sale securities, at fair value (1)
 
(16,704
)
 
(2,075
)
 
(17,017
)
 
(2,120
)
Non-marketable securities (fair value accounting):
 
 
 
 
 
 
 
 
Venture capital and private equity fund investments
 
(50,558
)
 
(10,703
)
 
(50,659
)
 
(15,445
)
Other venture capital investments
 
(1,297
)
 
(1,190
)
 
(2,041
)
 
(1,654
)
Other securities (fair value accounting) (2)
 
(101,014
)
 
(461
)
 
(113,787
)
 
(2,534
)
Non-marketable securities (equity method accounting):
 
 
 
 
 
 
 
 
Other investments
 
(828
)
 
(232
)
 
(1,040
)
 
(477
)
Non-marketable securities (cost method accounting):
 
 
 
 
 
 
 
 
Venture capital and private equity fund investments (3)
 
(353
)
 
(304
)
 
(509
)
 
(773
)
Other investments
 
(251
)
 
(2
)
 
(260
)
 
(348
)
Total gross losses on investment securities
 
(171,005
)
 
(14,967
)
 
(185,313
)
 
(23,351
)
(Losses) gains on investment securities, net
 
$
(57,320
)
 
$
40,561

 
$
166,592

 
$
67,999

 
 
(1)
Includes realized gains (losses) on sales of available-for-sale equity securities that are recognized in the income statement. Unrealized gains (losses) on available-for-sale fixed income and equity securities are recognized in other comprehensive income. The cost basis of available-for-sale securities sold is determined on a specific identification basis.
(2)
Other securities (fair value accounting) includes net losses of $84.9 million (including $20.4 million of realized gains) for the three months ended June 30, 2014, and net gains of $28.1 million (including $66.5 million of realized gains) for the six months ended June 30, 2014, attributable to one public company, FireEye. The extent to which any unrealized gains (or losses) will become realized is subject to a variety of factors, including among other things, changes in prevailing market prices and the timing of any sales or distribution of securities, which are subject to our securities sales and governance processes and may also be constrained by lock-up agreements. None of the FireEye related investments currently are subject to a lock-up agreement.
(3)
For the three months ended June 30, 2014 and 2013, includes OTTI losses of $0.3 million from the declines in value for 12 of the 282 investments and $0.3 million from the declines in value for 12 of the 303 investments, respectively. For the six months ended June 30, 2014 and 2013, includes OTTI losses of $0.4 million from the declines in value for 18 of the 282 investments and $0.8 million from the declines in value for 27 of the 303 investments, respectively. We concluded that any declines in value for the remaining investments were temporary, and as such, no OTTI was required to be recognized.