MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2014

MARKETABLE SECURITIES

3. MARKETABLE SECURITIES

(in thousands)	June 30, 2014
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Municipal bonds	$	34,398		117		(5)	$	34,510
Corporate bonds		51,625		51		(29)		51,647
Certificates of deposit		2,943		3		(1)		2,945
	$	88,966		171		(35)	$	89,102
(in thousands)	December 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Municipal bonds	$	41,545		75		(20)	$	41,600
Corporate bonds		31,868		52		(4)		31,916
Certificates of deposit		2,948		1		(4)		2,945
	$	76,361		128		(28)	$	76,461

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, 2014, remaining maturities of marketable debt securities ranged from July 2014 to July 2016, with a weighted-average remaining maturity of approximately 13 months.