Marketable Securities

12 Months Ended

Dec. 31, 2015

Investments [Abstract]

Marketable Securities

Note 6 – Marketable Securities

Marketable securities classified as available-for-sale as of December 31, 2015 and 2014 were comprised of (in thousands):

	December 31, 2015								December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Asset-backed securities	$	20,748	$	—	$	(9)	$	20,739	$	46,660	$	—	$	(36)	$	46,624
Corporate debt securities		116,821		29		(41)		116,809		89,126		8		(37)		89,097
Total	$	137,569	$	29	$	(50)	$	137,548	$	135,786	$	8	$	(73)	$	135,721

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 47 available-for-sale securities as of December 31, 2015. Of these 47 securities, 35 had combined unrealized losses of less than $0.1 million as of December 31, 2015. The Company did not have any investments in a loss position for greater than 12 months as of December 31, 2015. 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.