3. Cash Equivalents and Restricted Cash and Securities

The following is a summary of cash equivalents and restricted cash and securities (in thousands):


			Unrealized		Estimated
			Holding		Market
September 30, 2013	Cost Basis		Loss		Value
Cash equivalents:
Money market funds	$	1,312	$	--	$	1,312
Certificates of deposit		2,750		(2)		2,748
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		321		--		321

December 31, 2012
Cash equivalents:
Money market funds	$	1,319	$	--	$	1,319
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		323		--		323

As of September 30, 2013 and December 31, 2012 $321,000 and $323,000, respectively, of the Company’s money market funds were designated as short-term restricted securities due to a contractual commitment to hold the securities as pledged collateral relating to international tax obligations. As of September 30, 2013 and December 31, 2012 $5.0 million of the Company’s cash was designated as long-term restricted cash due to a financial covenant requirement under the Company’s credit agreement with General Electric Capital Corporation (“GE Capital”), as discussed in Note 11. This restriction lapses upon expiration of the credit agreement with GE Capital on October 28, 2014.

There were no gross realized gains or losses on cash equivalents in the three and nine months ended September 30, 2013 and 2012. Differences between the cost basis and market value listed above, consisting of a net unrealized holding loss of $2,000 at September 30, 2013, are included as a separate component of accumulated other comprehensive income (loss) in the shareholders’ equity section of the Summary Consolidated Balance Sheet and are included in other comprehensive income (loss) on the Summary Consolidated Statements of Operations and Comprehensive Income. As of September 30, 2013 $321,000 of restricted securities had a maturity date of between three months and one year. As of December 31, 2012 $323,000 of restricted securities had a maturity date within three months. As of September 30, 2013 and December 31, 2012 $5.0 million of the Company’s restricted cash had no maturity date.