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
March 31, 2014	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	2,482	$	--	$	2,482
U.S. Treasury debt securities		20,000		--		20,000
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		684		--		684

December 31, 2013
Cash equivalents:
Money market funds	$	5,349	$	--	$	5,349
Certificates of deposit		749		--		749
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		350		--		350

As of March 31, 2014 and December 31, 2013 $684,000 and $350,000, 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 primarily to international tax obligations. As of March 31, 2014 and December 31, 2013 $5.0 million of the Company’s cash was designated as short-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 will lapse 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 months ended March 31, 2014 and 2013. As of March 31, 2014 $20,000 of the Company’s restricted securities had a maturity date within three months and $664,000 of the Company’s restricted securities had a maturity date of between three months and one year. As of December 31, 2013 $328,000 of the Company’s restricted securities had a maturity date within three months and $22,000 of the Company’s restricted securities had a maturity date between three months and one year. As of March 31, 2014 and December 31, 2013 $5.0 million of the Company’s restricted cash had no maturity date.