Investments And Marketable Securities

12 Months Ended

Dec. 31, 2011

Investments And Marketable Securities [Abstract]

Investments And Marketable Securities

Note 4 Investments and Marketable Securities

We classify our investments in marketable debt securities as available-for-sale. As of December 31, 2011, all of our investments in marketable debt securities with maturities greater than one year are classified as long-term in the balance sheet due to our ability and intent to hold them until maturity.

Changes in the market value of available-for-sale securities are reflected in the accumulated other comprehensive income caption of stockholders' equity in the balance sheet, until we dispose of the securities. Once these securities are disposed of, either by sale or maturity, the accumulated changes in market value are transferred to investment income. On the statement of cash flows, changes in the balances of available-for-sale securities are shown as purchases, sales and maturities of investments and marketable securities under investing activities.

Changes in market value of trading securities would be recorded in investment income as they occur, and the related cash flow statement includes changes in the balances of trading securities as operating cash flows.

Changes in unrealized gains and losses on available-for-sale securities are included in these financial statements as follows (in thousands):

	Year Ended December 31,
	2011		2010		2009
Changes in unrealized gains and losses on available-for- sale securities, net of tax, recorded in accumulated other comprehensive income (loss)	$	(385)	$	(406)	$	737

The following table shows the number, aggregate market value and unrealized losses (in thousands) of investments with market values that were less than amortized cost as of December 31, 2011. These lower market values are primarily caused by fluctuations in credit spreads. Market values are expected to recover to the amortized cost prior to maturity.

Unrealized Loss < 12 months						Unrealized Loss > 12 months
	Number of investments	Aggregate Market Value		Unrealized     Losses			Number of investments	Aggregate Market Value		Unrealized     Losses
Government securities	5	$	4,599	$	(3)		6	$	6,708	$	(4)
State and municipal bonds	16		24,556		(7)		11		18,612		(36)
Corporate Securities	35		31,461		(855)		53		17,057		(532)
Total	56	$	60,616	$	(865)		70	$	42,377	$	(572)

As of December 31, 2010, the number, aggregate market value and unrealized losses (in thousands) of investments with market values that were less than amortized cost were:

	Unrealized Loss < 12 months					Unrealized Loss > 12 months
	Number of investments	Aggregate Market Value		Unrealized     Losses		Number of investments	Aggregate Market Value		Unrealized     Losses
Government securities	0	$	0	$	0	1	$	610	$	(6)
State and municipal bonds	10		17,707		(6)	13		20,461		(457)
Corporate Securities	3		4,029		(8)	12		13,850		(478)
Total	13	$	21,736	$	(14)	26	$	34,921	$	(941)

Using the specific identification method, the proceeds and realized gains on the sales of available-for-sale securities were as follows (in thousands):

	Year Ended December 31,
	2011		2010		2009
Proceeds	$	303,801	$	102,485	$	56,020
Realized gains		388		458		260
Realized losses		(306)		(198)		(219)
Net realized losses included in other comprehensive income (loss) as of the end of the prior year		159		(264)		(26)

Included in Zebra's cash, restricted cash, investments and marketable securities are amounts held by foreign subsidiaries which are generally invested in U.S. dollar-denominated holdings. Zebra had $96,829,000 as of December 31, 2011, and $42,367,000 as of December 31, 2010 of foreign cash and investments. Amounts held by foreign subsidiaries are generally subject to U.S. income taxation upon repatriation, however, Zebra does not see a need to repatriate these funds.