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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