Short-Term Investments (Notes)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Short-Term Investments

Short-Term Investments

Our investments consisted of the following as of September 30, 2014 (in thousands):

	Available-for-Sale Securities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Short-term investment
Certificates of deposit	$	4,760	—		$	(9	)	$	4,751	$	4,751
Commercial paper	2,750		—		—			2,750		2,750
Corporate notes and bonds	148,571		12		(159		)	148,424		148,424
U.S. Government agencies	143,267		1		(171		)	143,097		143,097
Total	$	299,348	$	13	$	(339	)	$	299,022	$	299,022

The following table presents our investments that had gross unrealized losses, the duration of which was less than twelve months, as of September 30, 2014 (in thousands):

	Total
	Estimated Fair Value		Unrealized Loss
Certificates of deposit	$	4,511	$	(9	)
Corporate notes and bonds	117,993		(159		)
U.S. Government agencies	119,075		(171		)
Total	$	241,579	$	(339	)

There were no investments with unrealized losses for twelve months or greater as of September 30, 2014.

Unrealized losses related to these investments are due to interest rate fluctuations as opposed to credit quality. In addition, we do not intend to sell, and it is not more likely than not that we would be required to sell, these investments before recovery of their cost basis. As a result, there is no other-than-temporary impairment for these investments as of September 30, 2014.

The following table summarizes the contractual maturities of our investments at September 30, 2014 (in thousands):

	Amortized Cost		Fair Value
Due within one year	$	160,789	$	160,767
Due within one to two years	138,559		138,255
Total	$	299,348	$	299,022

All available-for-sale securities have been classified as current, based on management's intent and ability to use the funds in current operations.