INVESTMENTS

9 Months Ended

Sep. 30, 2011

INVESTMENTS

INVESTMENTS

5. INVESTMENTS

The following table summarizes, by major security type, the Company’s short-term investments as of September 30, 2011 (in thousands):

	Cost		Gross  Unrealized  Gains		Gross  UnrealizedLosses			FairValue
Available for sale securities
Foreign government securities	$	1,142,648	$	817	$	(386	)	$	1,143,079
U.S. government securities	757,002		357		(55		)	757,304
U.S. agency securities	52,538		9		(2		)	52,545
U.S. corporate notes	30,365		174		—			30,539
Total	$	1,982,553	$	1,357	$	(443	)	$	1,983,467

As of September 30, 2011, foreign government securities included investments in debt securities issued by the governments of Germany, the Netherlands, France and the United Kingdom.  The U.S. corporate notes are guaranteed by the federal government.

The following table summarizes, by major security type, the Company’s short-term investments as of December 31, 2010 (in thousands):

	Cost		GrossUnrealizedGains		GrossUnrealizedLosses			FairValue
Available for sale securities
Foreign government securities	$	682,841	$	558	$	(81	)	$	683,318
U.S. government securities	469,116		158		(66		)	469,208
U.S. agency securities	109,920		15		(30		)	109,905
U.S. corporate notes	40,845		—		(25		)	40,820
Total	$	1,302,722	$	731	$	(202	)	$	1,303,251

There were no material realized gains or losses related to investments for the three or nine months ended September 30, 2011 or 2010.