INVESTMENTS

6 Months Ended

Jun. 30, 2012

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS

The following table summarizes, by major security type, the Company’s short-term investments as of June 30, 2012 (in thousands): 

	Cost		Gross  Unrealized  Gains		Gross  Unrealized Losses			Fair Value
Available for sale securities
Foreign government securities	$	1,155,626	$	22	$	(58	)	$	1,155,590
U.S. government securities	1,952,426		50		(211		)	1,952,265
U.S. agency securities	21,699		2		—			21,701
Total	$	3,129,751	$	74	$	(269	)	$	3,129,556

As of June 30, 2012, foreign government securities included investments in debt securities issued by the governments of Germany, the Netherlands, and the United Kingdom. 

The following table summarizes, by major security type, the Company’s short-term investments as of December 31, 2011 (in thousands): 

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale securities
Foreign government securities	$	1,073,731	$	588	$	(133	)	$	1,074,186
U.S. government securities	922,997		353		(28		)	923,322
U.S. agency securities	26,942		9		—			26,951
U.S. corporate notes	205		163		—			368
Total	$	2,023,875	$	1,113	$	(161	)	$	2,024,827

As of December 31, 2011, foreign government securities included investments in debt securities issued by the governments of Germany, the Netherlands, the United Kingdom and France.

There were no material realized gains or losses related to investments for the three and six months ended June 30, 2012 or 2011.