INVESTMENTS IN MARKETABLE SECURITIES

Available-for-sale securities are carried at fair value with the unrealized holding gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on available-for-sale securities are computed based upon specific identification and included in other income (expense), net in the consolidated statement of operations. Declines in value judged to be other-than-temporary on available-for-sale securities are recorded in other income (expense), net in the consolidated statement of operations and the cost basis of the security is reduced. The fair values for marketable equity securities are based on quoted market prices. Held-to-maturity investments are stated at amortized cost which approximates fair value. Interest income is accrued as earned. Realized gains and losses on held-to-maturity investments are computed based upon specific identification and included in other income (expense), net in the condensed consolidated statement of operations. The Company does not have any investments classified as trading.

Available-for-sale securities consist of assets in a rabbi trust associated with the Company’s deferred compensation plan. As of both March 31, 2013 and December 31, 2012, the carrying value of available-for-sale securities was approximately $92,000 and is included in short-term investments. Available-for-sale securities as of both March 31, 2013 and December 31, 2012 consisted of approximately $44,000 in mutual funds and approximately $48,000 in money market accounts.

The Company’s other marketable securities consist of investment grade debt instruments such as obligations of U.S. Treasury and U.S. Federal Government agencies. These investments are categorized as held-to-maturity since the Company’s management has the ability and intent to hold these securities to maturity. The Company’s held-to-maturity investments are carried at amortized cost which approximates fair value and are maintained in separate accounts to support the Company’s letters of credit. The Company had standby letters of credit of approximately $2.2 million as of March 31, 2013 and $2.6 million at December 31, 2012, as collateral for its existing insurance policies and facility leases.

At March 31, 2013 and December 31, 2012, held-to-maturity investments included the following:



			Maturing						Maturing
	March 31, 2013		within 1 year		after 1 year through 3 years		December 31, 2012		within 1 year		after 1 year through 3 years
Cash/money accounts	$	111	$	111	$	—	$	76	$	76	$	—
US Treasury securities	2,434		1,914		520		2,450		1,051		1,399
Government agency securities	1,262		875		387		1,270		881		389
Total	$	3,807	$	2,900	$	907	$	3,796	$	2,008	$	1,788

At March 31, 2013 and December 31, 2012, held-to-maturity investments were recorded in the following accounts:



	March 31, 2013		December 31, 2012
Other current assets	$	2,900	$	2,008
Other long-term assets	907		1,788
Total	$	3,807	$	3,796