NOTE 7. CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS

The following table summarizes the Company’s cash, cash equivalents, and short-term investments at June 30, 2015 and December 31, 2014:


	Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value
June 30, 2015
Cash and cash equivalents:
Cash	$	224,412	$	—	$	—		$	224,412
Money market funds		189,041		—		—			189,041
Commercial paper		7,697		—		—			7,697

Total cash and cash equivalents		421,150		—		—			421,150


Short-term investments:
Corporate debt securities		42,830		1		(39	)		42,792
Commercial paper		21,568		—		—			21,568
Federal agency securities		9,993		4		—			9,997
Certificates of deposit		2,000		—		—			2,000

Total short-term investments		76,391		5		(39	)		76,357

Total cash, cash equivalents, and short-term investments	$	497,541	$	5	$	(39	)	$	497,507


	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
December 31, 2014
Cash and cash equivalents:
Cash	$	313,646	$	—	$	—	$	313,646
Money market funds		189,031		—		—		189,031

Total cash and cash equivalents	$	502,677	$	—	$	—	$	502,677

Cash and cash equivalents consist of cash on deposit with banks, money market funds, and all highly liquid investments with a remaining maturity of three months or less at the time of purchase. The Company considers all highly liquid investments with a remaining maturity at the time of purchase of more than three months but no longer than 12 months to be short-term investments. The Company classifies its short-term investments as available-for-sale securities and reports them at fair value with related unrealized gains and losses included as a component of comprehensive income. The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in other income (expense), net, on the consolidated statements of operations. Realized gains and losses and declines in value judged to be other-than-temporary, if any, on available-for-sale securities are included in other income (expense), net. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are included in other income (expense), net.

At June 30, 2015, the Company had 20 available for sale securities with a fair value of $36.8 million in a gross unrealized loss position, all of which had been in such a position for less than twelve months. The Company does not intend to sell the securities that are in an unrealized loss position, and it is unlikely that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. All of the Company’s investments have remaining contractual maturities of less than twelve months.