Investments (Tables)

12 Months Ended

Dec. 31, 2013

Investments, Debt and Equity Securities [Abstract]

At December 31, the cost and carrying value of its available-for-sale investments were as follows (in thousands):



2013:	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
Debt securities: corporate bonds	$	8,988	$	213	$	(29	)	$	9,172
Marketable equity securities	31,023		10,835		(450		)	41,408
Total	$	40,011	$	11,048	$	(479	)	$	50,580



2012:	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Carrying Value
Debt securities: corporate bonds	$	7,758	$	324	$	(56	)	$	8,026
Marketable equity securities	33,847		7,212		(621		)	40,438
Total	$	41,605	$	7,536	$	(677	)	$	48,464

Investments Classified by Contractual Maturity Date

The amortized cost and carrying value of investments in debt securities at December 31, 2013 and 2012, by contractual maturity, are shown below. Actual maturity dates may differ from contractual maturity dates because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands):



	2013				2012
	Amortized Cost		Carrying Value		Amortized Cost		Carrying Value
Due in one year or less	$	68	$	68	$	3,963	$	4,077
Due after one year through five years	5,981		6,178		3,316		3,476
Due after five years	2,939		2,926		479		473
	$	8,988	$	9,172	$	7,758	$	8,026

Realized Gain (Loss) on Investments

Included in other income in the accompanying consolidated financial statements is the pre-tax net realized gain or loss on investments for each of the years ended December 31 (in thousands):



	2013			2012			2011
Gross realized gains:
Debt securities	$	3		$	845		$	213
Equity securities and other investments	24,110			1,173			4,656
Total gain	24,113			2,018			4,869
Gross realized losses:
Debt securities	(152		)	(2		)	(6		)
Equity securities and other investments	(319		)	(2,136		)	(819		)
Total loss	(471		)	(2,138		)	(825		)
Net realized gain (loss)	$	23,642		$	(120	)	$	4,044

Schedule of Unrealized Loss on Investments

The following table summarizes the market value of those investments in an unrealized loss position for periods less than and greater than 12 months (in thousands):



	2013				2012
Less than 12 months	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Debt securities: corporate bonds					$	768	$	12
Marketable equity securities	$	4,453	$	254	5,193		615
Total	$	4,453	$	254	$	5,961	$	627



	2013				2012
Greater than 12 months	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Debt securities: corporate bonds	$	5,744	$	29	$	2,204	$	44
Marketable equity securities	2,368		196		45		6
Total	$	8,112	$	225	$	2,249	$	50

Schedule of Cost and Equity Method Investments

The Company owned the following investments that are not classified as available-for-sale at December 31, 2013 and 2012 (in thousands). Synthonics is a private company co-founded by a member of the Company’s board of directors.



	December 31, 2013				December 31, 2012
	Carrying Value		Voting Interest		Carrying Value		Voting Interest
Investment in Synthonics, cost method	$	2,170	19.9	%	$	2,060	18.2	%

Investment in Mindjet:
Investment in common stock, equity method	$	8,697	15.2	%
Investment in preferred stock, cost method	17,210		13.6	%
	$	25,907	28.8	%
Total	$	28,077			$	2,060

The difference between the Company’s equity method carrying value of Mindjet and the amount of underlying equity in net assets is $13.7 million, which is primarily attributable to goodwill and acquired technology.