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7 Debt securities available-for-sale
The Company’s debt securities available-for-sale are comprised of Notas do Tesouro Nacional
(“National Treasury Notes”) Series D, and Notas do Banco Central (“Central Bank Bonds”)
Series E, which are issued and guaranteed by the Brazilian Federal Government. These
securities have maturity dates ranging from May 2001 to June 2004.
During the first half of 1999 the Company sold National Treasury Notes for an amount of U.S.
$ 80,313, realizing losses of U.S. $648, net of taxes, calculated on an identified security basis.
The realized loss that had been previously recorded as a component of other cumulative
comprehensive income in stockholders’ equity was classified as financial expense in the
statement of income. Additionally, in accordance with the maturity schedule of the National
Treasury Notes, U.S. $94,398 were redeemed in September 1999 and partially reinvested.
During October and November of 2000, National Treasury Notes with a value of U.S. $
119,768 matured and the...
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08