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Investments | 12 Months Ended
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Dec. 31, 2012
Investments |
Investments | Note 2 Investments 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. At December 31, 2012 and 2011, amortized cost and estimated fair market value were not materially different for these investments. At December 31, 2012 and 2011, money market funds included $6,437,000 and $25,755,000 denominated in Euros, respectively, and at December 31, 2012 also included $2,620,000 denominated in British Pounds and $2,441,000 denominated in Canadian dollars. As of December 31, 2012 and 2011, the trading securities primarily consisted of high yield debt securities. As of December 31, 2012 and 2011, unrealized gains related to trading securities were $2,042,000 and $376,000, 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 December 31, 2012 and 2011:
|  | 2012 |  | 2011
|  | Amortized |  | Fair |  | Amortized |  | Fair
(Thousands of dollars) |  | Cost |  | Value |  | Cost |  | Value
Money market funds |  | $ | 126,537 |  | $ | 126,537 |  | $ | 139,420 |  | $ | 139,420
Corporate bonds |  | 67,275 |  | 69,214 |  | 88,589 |  | 89,146
U.S. Government agency securities |  | 23,647 |  | 23,775 |  | 9,720 |  | 9,757
Emerging markets debt mutual fund |  | 17,693 |  | 18,734 |  | 17,693 |  | 16,399
U.S. Treasury securities |  | 17,165 |  | 17,169 |  | 4,848 |  | 4,905
Collateralized mortgage obligations |  | 15,059 |  | 15,162 |  | 14,915 |  | 15,011
Asset backed debt securities |  | 12,180 |  | 12,238 |  | 3,533 |  | 3,533
Fixed rate municipal notes and bonds |  | - |  | - |  | 17,718 |  | 17,788
Other |  | - |  | - |  | 1,480 |  | 1,484
Total available-for-sale short-term investments |  | 279,556 |  | 282,829 |  | 297,916 |  | 297,443
High yield trading debt securities |  | 21,839 |  | 23,406 |  | 20,155 |  | 20,750
Emerging markets trading debt mutual funds |  | 3,046 |  | 3,237 |  | 2,620 |  | 2,487
Emerging markets trading debt securities |  | 2,361 |  | 2,600 |  | 2,444 |  | 2,355
Other trading investments |  | 1,262 |  | 1,307 |  | 218 |  | 221
Total short-term investments |  | $ | 308,064 |  | $ | 313,379 |  | $ | 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 December 31, 2012:
(Thousands of dollars) |  | 2012 |
Due within one year |  | $ 2,587 |
Due after one year through three years |  | 52,411 |
Due after three years |  | 60,721 |
Total fixed rate securities |  | $115,719 |
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 Consolidated Balance Sheets. See Note 9 for information on the types of trading securities held related to the deferred compensation plans and Note 10 for a discussion of assets held in conjunction with investments related to Seaboard’s defined benefit pension plan.

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