SHORT-TERM INVESTMENTS

The following table summarizes the Company’s short-term investments (in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of July 3, 2015
State, municipal and local government agencies bonds	$	8,868	$	4	$	—		$	8,872
Corporate bonds	20,192		—		(30		)	20,162
Total short-term investments	$	29,060	$	4	$	(30	)	$	29,034
As of December 31, 2014
State, municipal and local government agencies bonds	$	13,946	$	16	$	(1	)	$	13,961
Corporate bonds	17,899		3		(16		)	17,886
Total short-term investments	$	31,845	$	19	$	(17	)	$	31,847

The following table summarizes the maturities of the Company’s short-term investments (in thousands):



	July 3, 2015		December 31, 2014
Less than one year	$	23,341	$	30,946
Due in 1 - 2 years	5,693		901
Total short-term investments	$	29,034	$	31,847

These available-for-sale investments are presented as “Current Assets” in the Condensed Consolidated Balance Sheets as they are available for current operations. Realized gains and losses from the sale of investments for each of the three and six months ended July 3, 2015 and June 27, 2014 were not material.

As of July 3, 2015 and December 31, 2014, $7.2 million and $8.6 million, respectively, of investments in equity securities of other privately and publicly held companies were considered as long-term investments and were included in “Other assets” in the Condensed Consolidated Balance Sheet (See Note 4, “Investments in Other Equity Securities” for additional information).

Impairment of Short-term Investments

The Company monitors its investment portfolio for impairment on a periodic basis. In the event that the carrying value of an investment exceeds its fair value and the decline in value is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis for the investment is established. A decline of fair value below amortized costs of debt securities is considered other-than-temporary if the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security before recovery of the entire amortized cost basis. At the present time, the Company does not intend to sell its investments that have unrealized losses in accumulated other comprehensive loss. In addition, the Company does not believe that it is more likely than not that it will be required to sell its investments that have unrealized losses in accumulated other comprehensive loss before the Company recovers the principal amounts invested. The Company believes that the unrealized losses are temporary and do not require an other-than-temporary impairment, based on its evaluation of available evidence as of July 3, 2015.

As of July 3, 2015, there were no individual available-for-sale securities in a material unrealized loss position and the amount of unrealized losses on the total investment balance was insignificant.