The amount invested in united states dollars at

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Unformatted text preview: inancial institutions. 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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