MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2012

MARKETABLE SECURITIES

3.    MARKETABLE SECURITIES

(in thousands)	June 30, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable securities:
Municipal bonds	$	30,624		82		(8	)	$	30,698
Corporate bonds		15,286		55		(2	)		15,339
Government sponsored enterprise bonds		2,000		—		—			2,000
Marketable securities	$	47,910		137		(10	)	$	48,037

(in thousands)	December 31, 2011
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable securities:
Municipal bonds	$	27,968		74		(2	)	$	28,040
Corporate bonds		15,058		16		(34	)		15,040
Government sponsored enterprise bonds		8,001		2		(4	)		7,999
Marketable securities	$	51,027		92		(40	)	$	51,079

The Company considers debt securities with maturities of three months or less from the purchase date to be cash equivalents. Interest is recorded when earned. All of the Company’s investments are classified as available-for-sale and are carried at fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income, net of related income taxes.

As of June 30, 2012, remaining maturities of marketable debt securities ranged from July 2012 to December 2014, with a weighted-average remaining maturity of approximately 12 months.