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Cash, Cash Equivalents and Short-term Investments
12 Months Ended
Dec. 31, 2014
Cash, Cash Equivalents and Short-term Investments  
Cash, Cash Equivalents and Short-term Investments

 

5. Cash, Cash Equivalents and Short-term Investments

        The following tables summarize the Company's cash, cash equivalents and short-term investments as of December 31, 2014 and December 31, 2013 (in thousands):

                                                                                                                                                                                    

December 31, 2014

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Cash and money market funds

 

$

6,414

 

$

 

$

 

$

6,414

 

Corporate debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

 

 

53,843

 

 

2

 

 

(28

)

 

53,817

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

60,257

 

$

2

 

$

(28

)

$

60,231

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Reported as:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

6,414

 

$

 

$

 

$

6,414

 

Short-term investments

 

 

53,843

 

 

2

 

 

(28

)

 

53,817

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

60,257

 

$

2

 

$

(28

)

$

60,231

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

December 31, 2013

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Cash and money market funds

 

$

18,078

 

$

 

$

 

$

18,078

 

Corporate debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

 

 

22,631

 

 

11

 

 

(2

)

 

22,640

 

Due in two years or less

 

 

3,708

 

 

2

 

 

(1

)

 

3,709

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

44,417

 

$

13

 

$

(3

)

$

44,427

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Reported as:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

18,078

 

$

 

$

 

$

18,078

 

Short-term investments

 

 

26,339

 

 

13

 

 

(3

)

 

26,349

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

44,417

 

$

13

 

$

(3

)

$

44,427

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

        At December 31, 2014 and 2013 we held thirty two and eight debt securities that had been in an unrealized loss position for less than 12 months, respectively. We held no investments that have been in a continuous unrealized loss position for 12 months or longer. The aggregate fair value of these securities was $44.2 million and $9.5 million at December 31, 2014 and 2013 respectively. We evaluated our securities for other-than-temporary impairments based on quantitative and qualitative factors. We considered the decline in market value for the thirty two securities as of December 31, 2014 to be primarily attributable to current economic and market conditions. It is not more likely than not that we will be required to sell these securities. Based on our analysis, we do not consider these investments to be other-than-temporarily impaired as of December 31, 2014 or 2013.

        As of December 31, 2014, we held $7.5 million in financial institution debt securities and other corporate debt securities located in Canada, the United Kingdom, and France. As of December 31, 2013, we held $11.7 million in financial institution debt securities and other corporate debt securities located in Canada, the United Kingdom, the Netherlands, Australia, and Norway. Based on our analysis, we do not consider these investments to be other-than-temporarily impaired as of December 31, 2014 or 2013.

        We had no realized gains or losses or other-than-temporary impairments on our short-term investments for the years ended December 31, 2014, 2013, and 2012.