Marketable Securities

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Investments

Note 6 – Marketable Securities

Marketable securities classified as available-for-sale as of December 31, 2014 and 2013 were comprised of (in thousands):

	December 31, 2014								December 31, 2013
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized				Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value		Cost		Gains		Losses		Fair Value
Auction rate security	$	—	$	—	$	—	$	—	$	1,175	$	615	$	—	$	1,790
Asset-backed securities		46,660		—		(36)		46,624		—		—		—		—
Corporate debt securities		89,126		8		(37)		89,097		11,806		1		—		11,807
Total	$	135,786	$	8	$	(73)	$	135,721	$	12,981	$	616	$	—	$	13,597

In 2014, the Company sold its remaining auction rate security and received proceeds of $1.8 million resulting in a realized gain of $0.6 million, all of which resulted from reclassification adjustments out of accumulated other comprehensive income (loss) in 2014.

Marketable Securities – Unrealized Losses

The Company owned 41 available-for-sale securities as of December 31, 2014. Of these 41 securities, 38 had unrealized losses of less than $0.1 million as of December 31, 2014. The Company did not have any investments in a loss position for greater than 12 months as of December 31, 2014. The Company has evaluated its marketable securities and has determined that none of these investments has an other-than-temporary impairment, as it has no intent to sell securities with unrealized losses and it is not more likely than not that the Company will be required to sell any securities with unrealized losses, given the Company’s current and anticipated financial position.