Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investment

Marketable securities at December 31, 2014, consisted of the following:

	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
Short-term deposits	$	42,681		$	—	$	—		$	42,681
Mutual funds	17,030			4,262		(322		)	20,970
Corporate securities	103,761			7,821		(23,732		)	87,850
Corporate obligations	32,486			592		(3,441		)	29,637
Total available-for-sale securities	195,958			12,675		(27,495		)	181,138
Amounts classified as cash equivalents	(42,681		)	—		—			(42,681		)
Amounts classified as marketable securities	$	153,277		$	12,675	$	(27,495	)	$	138,457

Marketable securities at December 31, 2013, consisted of the following:

	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
Short-term deposits	$	60,909		$	—	$	—		$	60,909
Mutual funds	15,722			5,061		—			20,783
United States government securities	50,356			23		—			50,379
Corporate securities	69,806			9,961		(5,208		)	74,559
Corporate obligations	31,356			885		(276		)	31,965
Commercial paper	1,799			—		—			1,799
Total available-for-sale securities	229,948			15,930		(5,484		)	240,394
Amounts classified as cash equivalents	(61,909		)	—		—			(61,909		)
Amounts classified as marketable securities	$	168,039		$	15,930	$	(5,484	)	$	178,485

Available-for-sale Securities

Gross realized gains and losses from sales of marketable securities, all of which are reported as a component of "Other income (expense), net" in the consolidated statements of operations, were as follows:

	Year Ended December 31,
	2014			2013			2012
	(in thousands)
Gross realized gains	$	8,065		$	6,984		$	628
Gross realized losses	(4,300		)	(4,376		)	(346		)
Realized gains, net	$	3,765		$	2,608		$	282

Schedule of Unrealized Loss on Investments

The fair value of the Company’s marketable securities with unrealized losses at December 31, 2014, all of which had unrealized losses for periods of less than twelve months, were as follows:

	Fair Value		Gross Unrealized Losses
	(in thousands)
Corporate securities	$	39,869	$	(23,732	)
Corporate obligations	13,530		(3,441		)
Mutual funds	$	4,873	$	(322	)
Total	$	58,272	$	(27,495	)

The fair value of the Company’s marketable securities with unrealized losses at December 31, 2013, and the duration of time that such losses had been unrealized, were as follows:

	Less than 12 Months					12 Months or Greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(in thousands)
Corporate securities	$	15,609	$	(4,757	)	$	803	$	(451	)	$	16,412	$	(5,208	)
Corporate obligations	10,477		(276		)	—		—			10,477		(276		)
Total	$	26,086	$	(5,033	)	$	803	$	(451	)	$	26,889	$	(5,484	)

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of available-for-sale debt securities and marketable securities with no contractual maturities at December 31, 2014, by contractual maturity, were as follows:

	Cost		Estimated  Fair Value
	(in thousands)
Debt securities:
Mature in one year or less	$	212	$	186
Mature after one year through three years	—		—
Mature in more than three years	32,274		29,451
Total debt securities	32,486		29,637
Securities with no contractual maturities	163,472		151,501
Total	$	195,958	$	181,138

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

As of December 31, 2014, the Company's financial instrument obligations consisted of the following:

	Initial Obligation		Estimated  Fair Value
	(in thousands)
Corporate securities	$	666	$	621
Market indices	18,685		20,451
Covered call options	7		4
Naked put options	109		235
Total	$	19,467	$	21,311

Equity Method Investments

The summarized balance sheet and income statement information is included for the periods during which such investments were accounted for as equity-method investments.

	Amount
	(in thousands)
Current assets	$	115,532
Non-current assets	$	179,161
Current liabilities	$	42,200
Non-current liabilities	$	132,681
Revenues	$	131,290
Gross profit	$	29,841
Net loss	$	(8,046	)

The following table summarizes the Company's equity-method investments.

	Ownership				Carrying Value				Income (Loss) Recognized
	December 31,				December 31,				Fiscal Year Ended December 31,
	2014		2013		2014		2013		2014			2013
					(in thousands)
Traditional equity method
Again Faster	40.0	%	40.0	%	3,105		3,671		(566		)	(329		)
iGo	46.9	%	44.7	%	2,600		4,668		(2,068		)	(533		)
Fair value option
API	20.6	%			24,355		—		(3,436		)	—
Total					$	30,060	$	8,339	$	(6,070	)	$	(862	)