Cash, Cash Equivalents And Short-Term Investments

9 Months Ended

Sep. 30, 2011

Cash, Cash Equivalents And Short-Term Investments

Cash, Cash Equivalents And Short-Term Investments

Note 4. Cash, Cash Equivalents and Short-Term Investments

The following is a summary of cash, cash equivalents and short-term investments at September 30, 2011 (in thousands):

	Carrying Value		Gross Unrealized Gain		Fair Value
Cash and cash equivalents:
Cash	$	8,000	$	0	$	8,000
Money market funds		6,761		0		6,761
Total cash and cash equivalents		14,761		0		14,761
Short-term investments:
United States government agency securities		456		1		457
Total short-term investments		456		1		457
Total cash, cash equivalents and short-term investments	$	15,217	$	1	$	15,218

The following is a summary of cash, cash equivalents and short-term investments at December 31, 2010 (in thousands):

	Carrying Value		Gross Unrealized Gain		Fair Value
Cash and cash equivalents:
Cash	$	22,770	$	0	$	22,770
Money market funds		6,178		0		6,178
Total cash and cash equivalents		28,948		0		28,948
Short-term investments:
Corporate debt securities		14		59		73
United States government agency securities		939		49		988
Total short-term investments		953		108		1,061
Total cash, cash equivalents and short-term investments	$	29,901	$	108	$	30,009

Cash equivalents and short-term investments consisted of the following by original contractual maturity (in thousands):

	September 30, 2011				December 31, 2010
	Carrying Value		Fair Value		Carrying Value		Fair Value
Due in one year or less	$	6,761	$	6,761	$	6,178	$	6,178
Due greater than three years and less than five years		456		457		953		1,061
Total cash equivalents and short-term investments	$	7,217	$	7,218	$	7,131	$	7,239

The maturities of certain short-term investments were estimated primarily based upon assumed prepayment features and credit enhancement characteristics.

Gross realized gains from the sale or maturity of available-for-sale investments were minimal during the nine months ended September 30, 2011. The Company did not record any gains from the sale or maturity of available-for-sale investments during the three months ended September 30, 2011 and during the three and nine months ended September 30, 2010. The Company did not record losses on investments experiencing an other-than-temporary decline in fair value during the three and nine months ended September 30, 2011 and 2010, nor did it record any gross realized losses from the sale or maturity of available-for-sale investments during the three and nine months ended September 30, 2011. However, the Company recorded minimal gross realized losses from the sale or maturity of available-for-sale investments during the three and nine months ended September 30, 2010.