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, net. At April 4, 2015, money market funds included $13,132,000 denominated in Euros and $2,849,000 denominated in Canadian dollars.

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 April 4, 2015 and December 31, 2014.

	2015				2014
	Amortized		Fair		Amortized		Fair
(Thousands of dollars)	Cost		Value		Cost		Value

Money market funds	$	236,974	$	236,974	$	142,432	$	142,432
Corporate bonds	11,652		11,757		11,000		11,015
U.S. Government agency securities	9,287		9,354		9,684		9,666
Asset backed debt securities	2,521		2,554		2,260		2,291
U.S. Treasury securities	1,990		1,996		523		522
Collateralized mortgage obligations	819		816		1,150		1,170
Total available-for-sale short-term investments	263,243		263,451		167,049		167,096
High yield trading debt securities	178,466		175,390		187,491		181,483
Equity mutual fund	86,309		86,268		83,809		82,542
Domestic equity ETF	59,157		61,806		31,307		32,651
Money market funds held in trading accounts	6,362		6,362		21,401		21,401
Emerging markets trading debt mutual fund	3,323		2,550		3,323		2,614
Other trading investments	1,870		1,792		2,850		2,779
Total trading short-term investments	335,487		334,168		330,181		323,470
Total short-term investments	$	598,730	$	597,619	$	497,230	$	490,566

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 April 4, 2015.

(Thousands of dollars)	2015
Due within one year	$	984
Due after one year through three years	11,077
Due after three years	12,093
Total fixed rate securities	$	24,154

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.