Short-Term Investments

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Short-Term Investments

Short-Term Investments

The Company's investments consist of marketable debt securities that are classified as available-for-sale and presented as "Short-term investments," a component of current assets on the consolidated balance sheets. The Company's available-for-sale securities represent investments available for current operations and may be sold prior to their stated maturities for strategic or operational reasons. The available-for-sale debt securities are carried at fair value, with the unrealized gains and losses reported in "Accumulated other comprehensive loss." The amortized cost of the available-for-sale debt securities is adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is netted against the related interest income and both are included in "Interest income / (expense) and other, net" in the consolidated statements of operations.

Realized gains and losses are classified as other income or expense and included in "Interest income / (expense) and other, net" in the consolidated statements of operations. The cost of securities sold is based on the specific identification method.

As of March 31, 2015 and December 31, 2014, the Company's amortized cost of its available-for-sale securities approximated fair value. Gross unrealized losses of $(0.02) million as of March 31, 2015 were partially offset by gross unrealized gains of $0.01 million. Gross unrealized losses were $(0.03) million as of December 31, 2014, with gross unrealized gains that were insignificant. The Company considered the declines in market value of its marketable available-for-sale securities investment portfolio to be temporary in nature and did not consider any of its investments other-than-temporarily impaired as of March 31, 2015 and as of December 31, 2014. Contractual maturities for the Company's available-for-sale securities are generally within two years of March 31, 2015.

During the three months ended March 31, 2015, the gross realized gains and losses on sales of available-for-sale marketable securities and amounts reclassified out of accumulated other comprehensive loss were insignificant. During the three months ended March 31, 2014, the gross realized gains and losses on sales of available-for-sale marketable securities were $0.03 million and $(0.5) million, respectively, and presented net as "Interest income / (expense) and other, net" on the consolidated statements of operations. Included in the realized gains and losses on sales of available-for-sale marketable securities were gains reclassified out of accumulated other comprehensive loss of $0.03 million and losses reclassified of $(0.5) million. See Note 5, Accumulated Other Comprehensive Loss, in these Notes to Consolidated Financial Statements for further information.