Investments in Available-for-Sale Securities

6 Months Ended

Jun. 30, 2013

Available-for-sale Securities [Abstract]

Available-for-sale Securities [Text Block]

. Investments in Available-for-Sale Securities

The Company has invested in marketable debt securities, primarily highly liquid AA - rated corporate bonds and U.S. government and government agency securities. These investments are held in the custody of a major financial institution. These securities, along with the Company's investments in marketable equity securities, are classified as available-for-sale securities and, accordingly, the unrealized gains and losses are recorded through other comprehensive income.

The Company's investments in available-for-sale marketable securities are as follows:

	June 30, 2013
										Balance Sheet
			Gross		Gross					Classification
			Unrealized		Unrealized			Fair		Short-Term		Other
	Cost Basis		Gains		Losses			Value		Investments		Assets
	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	126,193	$	—	$	(459	)	$	125,734	$	125,734	$	—
Corporate notes and bonds	123,692		—		(962		)	122,730		122,730		—
Equity securities	5,271		10,108		(2,907		)	12,472		—		12,472
Total Investments	$	255,156	$	10,108	$	(4,328	)	$	260,936	$	248,464	$	12,472

	December 31, 2012
										Balance Sheet
			Gross		Gross					Classification
			Unrealized		Unrealized			Fair		Short-Term		Other
	Cost Basis		Gains		Losses			Value		Investments		Assets
	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	146,993	$	2	$	(412	)	$	146,583	$	146,583	$	—
Corporate notes and bonds	88,118		—		(396		)	87,722		87,722		—
Equity securities	5,271		2,704		(2,628		)	5,347		—		5,347
Total Investments	$	240,382	$	2,706	$	(3,436	)	$	239,652	$	234,305	$	5,347

The aggregate fair value of investments with unrealized losses that have been owned for less than a year was $248.5 million and $223.3 million at June 30, 2013 and December 31, 2012, respectively. The aggregate fair value of investments with unrealized losses that have been owned for over a year was $0.1 million and$0.4 million at June 30, 2013 and December 31, 2012, respectively.

The debt securities outstanding at June 30, 2013 have maturity dates ranging from the third quarter of 2013 through the fourth quarter of 2014. The Company classifies its investments as current based on the nature of the investments and their availability for use in current operations.