Investments
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Sep. 30, 2013
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Investments | 5. Investments
Marketable Investments
Held-to-Maturity Investments
Marketable investments classified as held-to-maturity consist of the following (in thousands):
The following table summarizes gross unrealized losses and the length of time marketable investments have been in a continuous unrealized loss position (in thousands):
We attribute the unrealized losses on held-to-maturity securities as of September 30, 2013 and December 31, 2012 to the variability in related market interest rates. We do not intend to sell these securities, nor is it more likely than not that we will be required to sell them prior to the end of their contractual terms. Furthermore, we believe these securities do not expose us to undue market risk or counterparty credit risk. As such, we do not consider these securities to be other than temporarily impaired.
The following table summarizes the contractual maturities of held-to-maturity marketable investments (in thousands):
Equity Investments
We own less than one percent of the common stock of a public company. Our investment is classified as available-for-sale, reported at fair value based on the quoted market price, and included on the accompanying consolidated balance sheets in noncurrent marketable investments.
Cost Method Investments
As of September 30, 2013, we maintain in the aggregate, non-controlling equity investments of approximately $38.0 million in privately-held corporations. We account for these investments at cost since we do not have the ability to exercise significant influence over these companies and their fair values are not readily determinable. The fair value of these investments has not been estimated at September 30, 2013, as we have not identified any events or developments indicating that their carrying amounts may be impaired. We include these investments within other assets on our accompanying consolidated balance sheets.
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