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Investments | 6 Months Ended
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Jun. 30, 2012
Investments |
Investments |
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 June 30, 2012 and December 31, 2011, amortized cost and estimated fair value were not materially different for these investments. At June 30, 2012, money market deposit accounts included $6,106,000 denominated in Canadian dollars and money market funds included $5,214,000 denominated in Euros. As of June 30, 2012, the trading securities primarily consisted of high yield debt securities. Unrealized (losses) gains related to trading securities for the three and six months ended June 30, 2012 were $(135,000) and $656,000, respectively, and $(203,000) and $1,366,000 for the three and six months ended July 2, 2011, respectively. 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 June 30, 2012 and December 31, 2011.
|  | 2012 |  | 2011 |
|  | Amortized |  | Fair |  | Amortized |  | Fair |
(Thousands of dollars) |  | Cost |  | Value |  | Cost |  | Value |
Corporate bonds |  | $ | 134,965 |  | $ | 136,258 |  | $ | 88,589 |  | $ | 89,146 |
Money market funds and deposit accounts |  | 101,011 |  | 101,011 |  | 139,420 |  | 139,420 |
Enhanced cash mutual fund |  | 50,000 |  | 50,072 |  | - |  | - |
Collateralized mortgage obligations |  | 24,859 |  | 24,944 |  | 14,915 |  | 15,011 |
Fixed rate municipal notes and bonds |  | 23,553 |  | 23,592 |  | 17,718 |  | 17,788 |
U.S. Government agency securities |  | 22,424 |  | 22,572 |  | 9,720 |  | 9,757 |
U.S. Treasury securities |  | 20,458 |  | 20,526 |  | 4,848 |  | 4,905 |
Emerging markets debt mutual fund |  | 17,693 |  | 17,035 |  | 17,693 |  | 16,399 |
Asset backed debt securities |  | 15,499 |  | 15,514 |  | 3,533 |  | 3,533 |
Other |  | 680 |  | 683 |  | 1,480 |  | 1,484 |
Total available-for-sale short-term investments |  | 411,142 |  | 412,207 |  | 297,916 |  | 297,443 |
High yield trading debt securities |  | 21,129 |  | 22,084 |  | 20,155 |  | 20,750 |
Emerging markets trading debt mutual fund |  | 2,966 |  | 2,919 |  | 2,620 |  | 2,487 |
Emerging markets trading debt securities |  | 2,004 |  | 2,073 |  | 2,444 |  | 2,355 |
Other trading debt securities |  | 684 |  | 754 |  | 218 |  | 221 |
Total available-for-sale and trading short-term investments |  | $ | 437,925 |  | $ | 440,037 |  | $ | 323,353 |  | $ | 323,256 |
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 June 30, 2012.
(Thousands of dollars) |  | 2012 |
Due within one year |  | $ | 44,983 |
Due after one year through three years |  | 88,072 |
Due after three years |  | 67,516 |
Total fixed rate securities |  | $ | 200,571 |
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.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 -Topic 320 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 -Topic 320 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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