4. Investments

9 Months Ended

Sep. 30, 2016

Investments Schedule [Abstract]

Investments

As of September 30, 2016, we held an investment that is required to be measured for disclosure purposes at fair value on a recurring basis. This investment is considered a Level 2 investment and is considered to be a held-to-maturity security. We consider as current assets those investments which will mature in the next 12 months. The remaining investments are considered non-current assets. The amortized cost and fair value of our investments, and the related gross unrealized gains and losses, were as follows as of September 30, 2016 (in thousands): 

			Gross Unrealized
	Cost		Gains		Losses		Fair Value
Short-term Investments:
Corporate Bonds	$	30	$	--	$	--	$	30
Long-term Investments
Corporate bonds	$	5,000	$	9	$	--	$	5,009

Included in our short-term investments are certificates of deposit in the amount of $15.0 million. These certificates of deposit have maturities greater than three months but shorter than twelve months.

The amortized cost and fair value of our investments, and the related gross unrealized gains and losses, were as follows as of December 31, 2015 (in thousands):

			Gross Unrealized
	Cost		Gains		Losses			Fair Value
Short-term Investments:
Corporate bonds	$	44	$	--	$	--		$	44
Long-term Investments
Corporate bonds	$	5,555	$	--	$	(30	)	$	5,525

The above long-term corporate bond represents an investment in one issuer at September 30, 2016. At September 30, 2016, the length of time until maturity of this security is 57 months.

The cost and fair value of our Level 2 investments that are being accounted for as available-for-sale securities, and the related gross unrealized gain reflected in accumulated other comprehensive income, were as follows as of the dates shown below (in thousands):

			Gross Unrealized
	Cost		Gains		Losses			Fair value
As of September 30, 2016:
Long-term Investments:
Equity investments	$	5,675	$	--	$	(837	)	$	4,838
			Gross Unrealized
	Cost		Gains		Losses			Fair value
As of December 31, 2015:
Long-term Investments:
Equity investments	$	3,876	$	435	$	--		$	4,311

The fair value of these Level 2 investments were estimated using recently executed transactions and market price quotations.