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Current Marketable Securities
 9 Months Ended
Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
Current Marketable Securities
Current Marketable Securities
The Company’s investments in current marketable securities were classified as follows:
 
September 30,
2013
 
December 31,
2012
Available-for-sale securities
$
120,602

 
$
—

Held-to-maturity securities
4,995

 
124,873

Marketable securities
$
125,597

 
$
124,873


Available-for-Sale Securities
The cost, gross unrealized gains, gross unrealized losses and fair value of the Company’s available-for-sale securities were as follows:
 
 
September 30, 2013
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses (1)
 
Fair Value
Debt securities
 
 
 
 
 
 
 
 
Corporate bonds
 
$
11,888

 
$
191

 
$
(21
)
 
$
12,058

U.S. government debt (2)
 
26,400

 
23

 
(6
)
 
26,417

Asset-backed securities
 
82,109

 
27

 
(9
)
 
82,127

Total available-for-sale securities
 
$
120,397

 
$
241

 
$
(36
)
 
$
120,602

_____________
(1)
All unrealized loss positions were held at a loss for less than 12 months.
(2)
U.S. Treasury obligations, U.S. government agency obligations and U.S government agency mortgage-backed securities.
As of September 30, 2013, net unrealized gains on the Company's available-for-sale securities of $131, net of income tax expense of $74, were recorded in accumulated other comprehensive income. See Note 10 for the fair value hierarchy of the Company’s available-for-sale securities.
As of September 30, 2013, the corporate bond securities held by the Company had maturities between one to five years, U.S. government debt securities, excluding U.S. government agency mortgage-backed securities, had maturities of less than one year, U.S. government agency mortgage-backed securities had maturities between four to 26 years and asset-backed securities had maturities between two to five years.
 
 
 
 
 
 
 
 
 
Held-to-Maturity Securities
The Company owned held-to-maturity securities of $4,995 and $124,873 at September 30, 2013 and December 31, 2012, respectively, consisting of short-term corporate debt securities with maturities exceeding three months at the date of acquisition. These debt securities are carried at amortized cost, which approximates their fair value.