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Investments in Marketable Securities (Tables)
 3 Months Ended
Jun. 30, 2017
Marketable Securities [Abstract]  
Summary of Investments in Marketable Securities

The amortized cost and estimated fair value of investments in marketable securities and related unrealized gains and losses were as follows:

 

 

 

June 30, 2017

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

1,795

 

 

$

1

 

 

$

(7

)

 

$

1,789

 

Municipal debt securities

 

 

10

 

 

 

1

 

 

 

-

 

 

 

11

 

Certificates of deposit

 

 

2,200

 

 

 

-

 

 

 

(1

)

 

 

2,199

 

Corporate debt securities

 

 

382

 

 

 

4

 

 

 

-

 

 

 

386

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

43

 

 

 

1

 

 

 

-

 

 

 

44

 

Non-agency residential

 

 

2

 

 

 

-

 

 

 

-

 

 

 

2

 

Non-agency commercial

 

 

41

 

 

 

-

 

 

 

-

 

 

 

41

 

Asset-backed securities

 

 

35

 

 

 

-

 

 

 

-

 

 

 

35

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term floating NAV fund II

 

 

24

 

 

 

-

 

 

 

-

 

 

 

24

 

U.S. government sector fund

 

 

161

 

 

 

4

 

 

 

-

 

 

 

165

 

Municipal sector fund

 

 

7

 

 

 

-

 

 

 

-

 

 

 

7

 

Investment grade corporate sector fund

 

 

94

 

 

 

1

 

 

 

-

 

 

 

95

 

High-yield sector fund

 

 

30

 

 

 

2

 

 

 

-

 

 

 

32

 

Real return sector fund

 

 

36

 

 

 

1

 

 

 

-

 

 

 

37

 

Mortgage sector fund

 

 

145

 

 

 

2

 

 

 

-

 

 

 

147

 

Asset-backed securities sector fund

 

 

56

 

 

 

1

 

 

 

-

 

 

 

57

 

Emerging market sector fund

 

 

38

 

 

 

3

 

 

 

-

 

 

 

41

 

International sector fund

 

 

54

 

 

 

-

 

 

 

-

 

 

 

54

 

Total return bond funds

 

 

1,499

 

 

 

14

 

 

 

(1

)

 

 

1,512

 

Total investments in marketable securities

 

$

6,652

 

 

$

35

 

 

$

(9

)

 

$

6,678

 

 

Note 3 – Investments in Marketable Securities (Continued)

 

 

 

March 31, 2017

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

2,314

 

 

$

1

 

 

$

(7

)

 

$

2,308

 

Municipal debt securities

 

 

10

 

 

 

1

 

 

-

 

 

 

11

 

Certificates of deposit

 

 

755

 

 

-

 

 

-

 

 

 

755

 

Corporate debt securities

 

 

368

 

 

 

2

 

 

 

(1

)

 

 

369

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

45

 

 

 

1

 

 

 

(1

)

 

 

45

 

Non-agency residential

 

 

2

 

 

-

 

 

-

 

 

 

2

 

Non-agency commercial

 

 

37

 

 

 

1

 

 

 

(1

)

 

 

37

 

Asset-backed securities

 

 

31

 

 

-

 

 

-

 

 

 

31

 

Equity instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term floating NAV fund II

 

 

39

 

 

-

 

 

-

 

 

 

39

 

U.S. government sector fund

 

 

389

 

 

-

 

 

-

 

 

 

389

 

Municipal sector fund

 

 

20

 

 

-

 

 

-

 

 

 

20

 

Investment grade corporate sector fund

 

 

252

 

 

 

9

 

 

-

 

 

 

261

 

High-yield sector fund

 

 

83

 

 

 

6

 

 

-

 

 

 

89

 

Real return sector fund

 

 

147

 

 

 

5

 

 

-

 

 

 

152

 

Mortgage sector fund

 

 

390

 

 

 

2

 

 

-

 

 

 

392

 

Asset-backed securities sector fund

 

 

140

 

 

 

10

 

 

-

 

 

 

150

 

Emerging market sector fund

 

 

105

 

 

 

7

 

 

-

 

 

 

112

 

International sector fund

 

 

136

 

 

-

 

 

-

 

 

 

136

 

Total return bond funds

 

 

389

 

 

 

5

 

 

-

 

 

 

394

 

Total investments in marketable securities

 

$

5,652

 

 

$

50

 

 

$

(10

)

 

$

5,692

 

 
Schedule of Realized Gains and Losses on Sales from AFS Presented in Our Consolidated Statement of Income

The following table represents realized gains and losses on our available-for-sale securities presented in our Consolidated Statements of Income:

 

 

 

Three Months Ended

 

 

 

 

June 30,

 

 

 

 

2017

 

 

2016

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

Realized gains on sales

 

$

42

 

 

$

13

 

 

Realized losses on sales

 

$

(1

)

 

$

-

 

 

 
Summary of Contractual Maturities of Available-for-Sale Securities

The amortized cost, fair value, and contractual maturities of available-for-sale debt instruments are summarized in the following table.  Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations.

 

 

June 30, 2017

 

 

 

Amortized Cost

 

 

Fair Value

 

Available-for-sale debt instruments:

 

 

 

 

 

 

 

 

Due within 1 year

 

$

3,351

 

 

$

3,349

 

Due after 1 year through 5 years

 

 

814

 

 

 

813

 

Due after 5 years through 10 years

 

 

135

 

 

 

135

 

Due after 10 years

 

 

87

 

 

 

88

 

Mortgage-backed and asset-backed securities1

 

 

121

 

 

 

122

 

Total

 

$

4,508

 

 

$

4,507

 

 

1

Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities do not have a single maturity date.