MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2014

MARKETABLE SECURITIES

3. MARKETABLE SECURITIES

(in thousands)	December 31, 2014
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable securities:
Municipal bonds	$	27,820	$	52	$	(17	)	$	27,855
Corporate bonds		65,487		5		(144	)		65,348
Certificates of deposit		3,428		2		(2	)		3,428
Marketable securities	$	96,735	$	59	$	(163	)	$	96,631
(in thousands)	December 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable securities:
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
Marketable securities	$	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 (loss) income, net of related income taxes.

As of December 31, 2014, remaining maturities of marketable debt securities ranged from January 2015 to May 2017, with a weighted-average remaining maturity of approximately 13 months.