MARKETABLE SECURITIES

9 Months Ended

Sep. 30, 2014

MARKETABLE SECURITIES

3. MARKETABLE SECURITIES

(in thousands)	September 30, 2014
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Municipal bonds	$	35,595		68		(4)	$	35,659
Corporate bonds		53,483		25		(83)		53,425
Certificates of deposit		2,939		3		—		2,942
	$	92,017		96		(87)	$	92,026
(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 September 30, 2014, remaining maturities of marketable debt securities ranged from October 2014 to February 2017, with a weighted-average remaining maturity of approximately 13 months.