Annual report pursuant to Section 13 and 15(d)

Trading Securities, at Fair Value (Notes)

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Trading Securities, at Fair Value (Notes)
 12 Months Ended
Dec. 31, 2012
Trading Securities, at Fair Value [Abstract]  
Trading Securities, at Fair Value
Trading Securities, at Fair Value
The Company holds U.S. Treasuries in a taxable REIT subsidiary and classifies these securities as trading instruments due to short-term investment objectives. As of December 31, 2012 and December 31, 2011, the Company held U.S. Treasuries with an amortized cost of $1.0 billion and a fair value of $1.0 billion for both periods classified as trading securities. The unrealized gains included within trading securities were $5.0 million and $3.1 million as of December 31, 2012 and December 31, 2011, respectively.
For the years ended December 31, 2012 and December 31, 2011, the Company sold trading securities for $1.0 billion and $1.2 billion with an amortized cost of $1.0 billion and $1.2 billion, resulting in realized gains of $1.7 million and $3.3 million, respectively, on the sale of these securities. For the years ended December 31, 2012 and December 31, 2011, trading securities experienced unrealized gains of $2.0 million and $3.5 million, respectively. Both realized and unrealized gains and losses are recorded as a component of gains on investment securities, net in the Company's consolidated statements of comprehensive income.
At December 31, 2012, the Company pledged trading securities with a carrying value of $1.0 billion as collateral for repurchase agreements. See Note 13 - Repurchase Agreements.