INVESTMENTS

12 Months Ended

Dec. 31, 2014

Investments Debt And Equity Securities [Abstract]

INVESTMENTS

NOTE 5—INVESTMENTS

As of December 31, 2014, we had investments with a fair value of $3.9 million. Our investment portfolio consists of investments in commercial paper and mutual funds. Our investments are classified as available-for-sale and are carried at fair value with unrealized gains and losses, net of tax, reported as a component of other comprehensive income (loss). During the year ended December 31, 2013, we recognized other than temporary impairment of $1.6 million on the asset-backed securities and collateralized mortgage obligations. Our net unrealized gain on investments was $0.2 million as of December 31, 2014 and December 31, 2013.

As of December 31, 2014, investments in commercial paper were classified as short-term and were included in other current assets in the consolidated balance sheet.

The following is a summary of our available-for-sale securities:

	Year Ended December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Estimated Fair Value
	(In thousands)
Mutual funds(1)	$	1,975	$	241	$	2,216
Commercial paper(2)		1,699		—	$	1,699
	$	3,674	$	241	$	3,915

	Year Ended December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Estimated Fair Value
	(In thousands)
Mutual funds(1)	$	1,975	$	198	$	2,173
Commercial paper(2)		3,699		—	$	3,699
Asset-backed securities and collateralized mortgage obligations(3)(4)(5)		7,599		40	$	7,639
	$	13,273	$	238	$	13,511

(1) Various U.S. equities and other investments managed under mutual funds.

(2) Commercial paper with maturities less than one year.

(3) Included in our asset-backed securities and collateralized mortgage obligations is approximately $5.6 million of commercial paper secured by mortgage-backed securities.

(4) Asset-backed and mortgage-backed securities with maturities of up to 26 years.

(5) Asset-backed and mortgage-backed securities and collateralized mortgage obligations is net of a $1.6 million impairment that was recognized in the year ended December 31, 2013.

Proceeds, gross realized gains and gross realized losses from sales and maturities of available-for-sale securities were as follows:

	Proceeds		Gross Realized Gains		Gross Realized Losses
	(In thousands)
Year Ended December 31, 2014	$	12,978	$	—	$	(326	)
Year Ended December 31, 2013	$	43,959	$	—	$	—
Year Ended December 31, 2012	$	191,298	$	—	$	—