NVE CORP /NEW/ - FORM 10-K - XML - IDEA: XBRL DOCUMENT

Marketable Securities

12 Months Ended

Mar. 31, 2012

NOTE 4. MARKETABLE SECURITIES
Marketable securities with remaining maturities less than one year are classified as short-term, and those with remaining maturities greater than one year are classified as long-term. The fair value of our marketable securities as of March 31, 2012, by maturity, were as follows:

Total			<1 Year			1–3 Years			3–5 Years
$	71,996,927		$	17,551,629		$	23,512,896		$	30,932,402

As of March 31, 2012 and 2011 our marketable securities were as follows:

	As of March 31, 2012									As of March 31, 2011
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
U.S. agency securities	$	-	$	-	$	-		$	-	$	83,358	$	1,200	$	-		$	84,558
Corporate bonds		50,513,389		1,481,604		(76,434	)		51,918,559		37,884,146		1,231,743		(147,443	)		38,968,446
Municipal bonds	19,775,582		334,793		(32,007		)	20,078,368		21,582,084		602,457		(10,047		)	22,174,494
Total	$	70,288,971	$	1,816,397	$	(108,441	)	$	71,996,927	$	59,549,588	$	1,835,400	$	(157,490	)	$	61,227,498

The following table shows the gross unrealized losses and fair value of our investments with unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position as of March 31, 2012 and 2011:

		Less Than 12 Months							12 Months or Greater							Total
		Fair Market Value			Gross Unrealized Losses				Fair Market Value			Gross Unrealized Losses				Fair Market Value			Gross Unrealized Losses
As of March 31, 2012
	U.S. agency securities	$	-		$	-			$	-		$	-			$	-		$	-
	Corporate bonds	10,387,955		(76,434			)	-			-				10,387,955			(76,434			)
	Municipal bonds	-			-				908,550			(32,007		)		908,550			(32,007		)
	Total	$	10,387,955		$	(76,434	)		$	908,550		$	(32,007	)		$	11,296,505		$	(108,441	)
As of March 31, 2011
	U.S. agency securities	$	-		$	-			$	-		$	-			$	-		$	-
	Corporate bonds	9,146,952		(147,443			)	-			-				9,146,952			(147,443			)
	Municipal bonds	2,178,225			(10,047		)		-			-				2,178,225			(10,047		)
	Total	$	11,325,177		$	(157,490	)		$	-		$	-			$	11,325,177		$	(157,490	)

Gross unrealized losses totaled $108,441 as of March 31, 2012, and were attributable to three corporate bonds and one municipal bond out of a portfolio of 51 bonds. The gross unrealized losses were due to market-price decreases and rating downgrades after the bonds were purchased. All of the bonds we held that were rated by Moody's or Standard and Poor's had investment-grade credit ratings. For each bond with an unrealized loss, we expect to recover the entire cost basis of each security based on our consideration of factors including their credit ratings, the underlying ratings of insured bonds, and historical default rates for securities of comparable credit rating. Because we expect to recover the entire cost basis of the securities, and because we do not intend to sell the securities and it is not more likely than not that we will be required to sell the securities before recovery of the cost basis, which may be maturity, we did not consider any of our marketable securities to be other-than-temporarily impaired at March 31, 2012.

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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NVE CORP /NEW/ - FORM 10-K - XML - IDEA: XBRL DOCUMENT - May 2, 2012

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