Marketable Securities

12 Months Ended

Dec. 31, 2016

Investments [Abstract]

Marketable Securities

Note 5 – Marketable Securities

Marketable securities classified as available-for-sale as of December 31, 2016 and 2015 were comprised of (in thousands):

	December 31, 2016								December 31, 2015
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Asset-backed securities	$	23,636	$	—	$	(4)	$	23,632	$	20,748	$	—	$	(9)	$	20,739
Corporate debt securities		67,457		43		(6)		67,494		116,821		29		(41)		116,809
Total	$	91,093	$	43	$	(10)	$	91,126	$	137,569	$	29	$	(50)	$	137,548

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 loss in 2014.

Marketable Securities – Unrealized Losses

The Company owned 27 available-for-sale securities as of December 31, 2016. Of these 27 securities, 16 had combined unrealized losses of less than $0.1 million as of December 31, 2016. The Company did not have any investments in a loss position for greater than 12 months as of December 31, 2016. 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.