| Investment Securities |
We classify our investment securities as available-for-sale and report them at fair value with the related unrealized gains and losses, net of tax, included in accumulated other comprehensive income, a component of stockholders’ equity. Note 3—Investment Securities (continued) As of June 30, 2012 and December 31, 2011, our available-for-sale investment securities were as follows: | | | | | | | | | | | | | | | | | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | (In thousands) | June 30, 2012 | | | | | | | | Corporate bonds | $ | 40,416 |
| | $ | 49 |
| | $ | (5 | ) | | $ | 40,460 |
| Commercial paper | 8,832 |
| | 2 |
| | — |
| | 8,834 |
| Negotiable certificate of deposit | 3,500 |
| | — |
| | — |
| | 3,500 |
| U.S. treasury notes | 39,661 |
| | 1 |
| | (14 | ) | | 39,648 |
| Agency securities | 34,989 |
| | 20 |
| | (7 | ) | | 35,002 |
| Municipal bonds | 4,804 |
| | 32 |
| | — |
| | 4,836 |
| Asset-backed securities | 8,464 |
| | 4 |
| | — |
| | 8,468 |
| Total fixed income securities | $ | 140,666 |
| | $ | 108 |
| | $ | (26 | ) | | $ | 140,748 |
| | | | | | | | | December 31, 2011 | | | | | | | | Corporate bonds | $ | 16,307 |
| | $ | 27 |
| | $ | (1 | ) | | $ | 16,333 |
| Commercial paper | 4,998 |
| | 1 |
| | — |
| | 4,999 |
| Negotiable certificate of deposit | 3,500 |
| | — |
| | — |
| | 3,500 |
| Agency securities | 3,979 |
| | 12 |
| | (4 | ) | | 3,987 |
| Municipal bonds | 2,379 |
| | 13 |
| | (1 | ) | | 2,391 |
| Total fixed income securities | $ | 31,163 |
| | $ | 53 |
| | $ | (6 | ) | | $ | 31,210 |
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As of June 30, 2012 and December 31, 2011, the gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or more | | Total fair value | | Total unrealized loss | | Fair value | | Unrealized loss | | Fair value | | Unrealized loss | | | | (In thousands) | June 30, 2012 | | | | | | | | |
|
| | | Fixed income securities | | | | | | | | |
| |
| Corporate bonds | $ | 16,423 |
| | $ | (5 | ) | | $ | — |
| | $ | — |
| | $ | 16,423 |
| | $ | (5 | ) | U.S. treasury notes | 30,582 |
| | (14 | ) | | — |
| | — |
| | 30,582 |
| | (14 | ) | Agency securities | 21,039 |
| | (7 | ) | | — |
| | — |
| | 21,039 |
| | (7 | ) | Total fixed income securities | $ | 68,044 |
| | $ | (26 | ) | | $ | — |
| | $ | — |
| | $ | 68,044 |
| | $ | (26 | ) | | | | | | | | | | | | | December 31, 2011 | | | | | | | | | | | | Fixed income securities | | | | | | | | | | | | Corporate bonds | $ | 2,999 |
| | $ | (1 | ) | | $ | — |
| | $ | — |
| | $ | 2,999 |
| | $ | (1 | ) | Agency securities | 1,663 |
| | (4 | ) | | — |
| | — |
| | 1,663 |
| | (4 | ) | Municipal bonds | 324 |
| | (1 | ) | | — |
| | — |
| | 324 |
| | (1 | ) | Total fixed income securities | $ | 4,986 |
| | $ | (6 | ) | | $ | — |
| | $ | — |
| | $ | 4,986 |
| | $ | (6 | ) |
We did not record any other-than-temporary impairment losses during the three and six-month periods ended June 30, 2012 or 2011 on our available-for-sale investment securities. We do not intend to sell these investments or it is more likely than not that we will not be required to sell these investments before recovery of their amortized cost bases, which may be at maturity. Note 3—Investment Securities (continued) As of June 30, 2012, the contractual maturities of our available-for-sale investment securities were as follows: | | | | | | | | | | Amortized cost | | Fair value | | (In thousands) | Due in one year or less | $ | 73,033 |
| | $ | 73,063 |
| Due after one year through five years | 57,470 |
| | 57,491 |
| Due after five years through ten years | 1,596 |
| | 1,619 |
| Due after ten years | 103 |
| | 107 |
| Asset-backed securities | 8,464 |
| | 8,468 |
| Total fixed income securities | $ | 140,666 |
| | $ | 140,748 |
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