NABORS INDUSTRIES LTD | 2013 | FY | 3


Note 7 Cash and Cash Equivalents and Short-term Investments

        Our cash and cash equivalents and short-term investments consisted of the following:

 
  December 31,  
 
  2013   2012  
 
  (In thousands)
 

Cash and cash equivalents

  $ 389,915   $ 524,922  

Short-term investments:

             

Trading equity securities

        52,705  

Available-for-sale equity securities

    96,942     174,610  

Available-for-sale debt securities

    20,276     25,967  
           

Total short-term investments

  $ 117,218   $ 253,282  
           

        We sold our trading equity securities during the first quarter of 2013.

        Certain information related to our cash and cash equivalents and short-term investments follows:

 
  December 31,  
 
  Fair Value   2013
Gross
Unrealized
Holding
Gains
  Gross
Unrealized
Holding
Losses
  Fair Value   2012
Gross
Unrealized
Holding
Gains
  Gross
Unrealized
Holding
Losses
 
 
  (In thousands)
 

Cash and cash equivalents

  $ 389,915   $   $   $ 524,922   $   $  

Short-term investments:

                                     

Trading equity securities

                52,705     46,981      

Available-for-sale equity securities

    96,942     68,395         174,610     137,282     (1,030 )

Available-for-sale debt securities:

                                     

Commercial paper and CDs

                206          

Corporate debt securities

    19,388     4,122         23,399     1,870      

Mortgage-backed debt securities

    210     11         244     15      

Mortgage-CMO debt securities

    20         (2 )   523     10     (3 )

Asset-backed debt securities

    658     2     (54 )   1,595     28     (192 )
                           

Total available-for-sale debt securities

    20,276     4,135     (56 )   25,967     1,923     (195 )
                           

Total available-for-sale securities

    117,218     72,530     (56 )   200,577     139,205     (1,225 )
                           

Total short-term investments

    117,218     72,530     (56 )   253,282     186,186     (1,225 )
                           

Total cash, cash equivalents and short-term investments

  $ 507,133   $ 72,530   $ (56 ) $ 778,204   $ 186,186   $ (1,225 )
                           

        Certain information related to the gross unrealized losses of our cash and cash equivalents and short-term investments follows:

 
  As of December 31, 2013  
 
  Less Than 12 Months   More Than 12 Months  
 
  Fair Value   Gross
Unrealized
Losses
  Fair Value   Gross
Unrealized
Losses
 
 
  (In thousands)
 

Available-for-sale equity securities

  $   $   $   $  

Available-for-sale debt securities:(1)

                         

Mortgage-CMO debt securities

            20     2  

Asset-backed debt securities

    395     54          
                       

Total available-for-sale debt securities

    395     54     20     2  
                   

Total

  $ 395   $ 54   $ 20   $ 2  

        The estimated fair values of our corporate, mortgage-backed, mortgage-CMO and asset-backed debt securities at December 31, 2013, classified by time to contractual maturity, are shown below. Expected maturities differ from contractual maturities because the issuers of the securities may have the right to repay obligations without prepayment penalties and we may elect to sell the securities prior to the contractual maturity date.

 
  Estimated
Fair Value
December 31, 2013
 
 
  (In thousands)
 

Debt securities:

       

Due in one year or less

  $  

Due after one year through five years

    15,600  

Due in more than five years

    4,676  
       

Total debt securities

  $ 20,276  
       

        Certain information regarding our debt and equity securities is presented below:

 
  Year Ended December 31,  
 
  2013   2012   2011  
 
  (In thousands)
 

Available-for-sale

                   

Proceeds from sales and maturities

  $ 107,586   $ 24,010   $ 12,672  

Realized gains (losses), net

  $ 88,158   $ 13,405   $ 3,036  

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