Investments

6 Months Ended

Jun. 30, 2011

Investments

Investments

Note 4—Investments

At June 30, 2011 and December 31, 2010, the Company held no trading securities. Available-for-sale and held-to-maturity securities consisted of the following:

	June 30, 2011
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Available-for-sale securities:
Equity securities (1)	$	—	$	1	$	(1	)	$	—
Total available-for-sale securities		—		1		(1	)		—
Held-to-maturity securities:
Fixed maturities:
Bank deposits and certificates of deposit		44,285		—		—			44,285
Total held-to-maturity securities		44,285		—		—			44,285
Total	$	44,285	$	1	$	(1	)	$	44,285
	December 31, 2010
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Available-for-sale securities:
Equity securities (1)	$	—	$	1	$	—		$	1
Total available-for-sale securities		—		1		—			1
Held-to-maturity securities:
Fixed maturities:
Bank deposits and certificates of deposit		21,350		—		(1	)		21,349
Total held-to-maturity securities		21,350		—		(1	)		21,349
Total	$	21,350	$	1	$	(1	)	$	21,350

(1) Equity securities at June 30, 2011 and December 31, 2010 were comprised of the Company's investment in common shares of Neuro-Hitech, Inc. The fair value of this investment is obtained from quoted prices in an inactive market. The Company considers the market for Neuro-Hitech, Inc. shares to be inactive due to its low trading volume and infrequency of trading.

The Company's available-for-sale and held-to-maturity securities were included in the following captions in its consolidated balance sheets:

	June 30, 2011				December 31, 2010
	Available- for-Sale Securities:		Held-to- Maturity Securities:		Available- for-Sale Securities		Held-to- Maturity Securities:
	(In thousands)
Cash and cash equivalents	$	—	$	1,307	$	—	$	6,200
Short-term investments		—		41,698		1		13,870
Other long-term assets (including investments and restricted cash)		—		1,280		—		1,280
	$	—	$	44,285	$	1	$	21,350

At June 30, 2011, all of the Company's held-to-maturity securities classified as short-term investments had maturity dates of one year or less. Since available-for-sale securities are made up exclusively of equity securities, there are no maturity dates associated with available-for-sale securities. At June 30, 2011 and December 31, 2010, there was $1,000 and $2,000 net unrealized loss, respectively, included in comprehensive loss, net of taxes. Other long-term assets represent the Company's rent security deposit, which is secured by a cash deposit.