Note 2– Investments

Seaboard’s short-term investments are treated as either available-for-sale securities or trading securities. All of Seaboard’s available-for-sale and trading securities are classified as current assets as they are readily available to support Seaboard’s current operating needs. Available-for-sale securities are recorded at their estimated fair value with unrealized gains and losses reported, net of tax, as a separate component of accumulated other comprehensive loss. Trading securities are recorded at their estimated fair value with unrealized gains and losses reflected in other investment income (loss), net. At September 28, 2013 and December 31, 2012, amortized cost and estimated fair value were not materially different for these investments.

At September 28, 2013, money market funds included $15,898,000 denominated in Euros, $7,680,000 denominated in British Pounds and $4,130,000 denominated in Canadian dollars. As of September 28, 2013, the trading securities primarily consisted of high yield debt securities.

The following is a summary of the amortized cost and estimated fair value of short-term investments for both available-for-sale and trading securities at September 28, 2013 and December 31, 2012.

	2013				2012
	Amortized		Fair		Amortized		Fair
(Thousands of dollars)	Cost		Value		Cost		Value

Money market funds	$	78,435	$	78,435	$	126,537	$	126,537
Corporate bonds	68,411		69,038		67,275		69,214
U.S. Government agency securities	20,627		20,412		23,647		23,775
Emerging markets debt mutual fund	17,693		17,253		17,693		18,734
Collateralized mortgage obligations	15,058		15,007		15,059		15,162
Asset backed debt securities	8,926		8,967		12,180		12,238
U.S. Treasury securities	5,258		5,237		17,165		17,169
Total available-for-sale short-term investments	214,408		214,349		279,556		282,829
High yield trading debt securities	24,445		25,195		21,839		23,406
Emerging markets trading debt mutual fund	3,161		2,900		3,046		3,237
Emerging markets trading debt securities	1,493		1,535		2,361		2,600
Other trading investments	974		1,016		1,262		1,307
Total available-for-sale and trading short-term investments	$	244,481	$	244,995	$	308,064	$	313,379

The following table summarizes the estimated fair value of fixed rate securities designated as available-for-sale classified by the contractual maturity date of the security as of September 28, 2013.

(Thousands of dollars)	2013
Due within one year	$	658
Due after one year through three years	41,940
Due after three years	57,131
Total fixed rate securities	$	99,729

In addition to its short-term investments, Seaboard also has trading securities related to Seaboard’s deferred compensation plans classified in other current assets on the Condensed Consolidated Balance Sheets. See Note 5 to the Condensed Consolidated Financial Statements for information on the types of trading securities held related to the deferred compensation plans.