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Marketable Securities
 12 Months Ended
Sep. 30, 2012
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
MARKETABLE SECURITIES
Our marketable securities consist of certificates of deposit, commercial paper, corporate bonds and government municipal bonds.
We analyze our available-for-sale marketable securities for impairment on an ongoing basis. When we perform this analysis, we consider factors such as the length of time and extent to which the securities have been in an unrealized loss position and the trend of any unrealized losses. We also consider whether an unrealized loss is a temporary loss or an other-than-temporary loss such as: (a) whether we have the intent to sell the security, or (b) whether it is more likely than not that we will be required to sell the security before its anticipated recovery, or (c) permanent impairment due to bankruptcy or insolvency.
In order to estimate the fair value for each security in our investment portfolio, where available, we obtain quoted market prices and trading activity for each security. We also review the financial solvency of each security issuer and obtain other relevant information from our investment advisor. As of September 30, 2012, 42 of our 62 securities that we are holding were trading below our amortized cost basis. We determined each decline in value to be temporary based upon the above described factors. We expect to realize the fair value of these securities, plus accrued interest, either at the time of maturity or when the security is sold. All of our current holdings are classified as available-for-sale marketable securities and are recorded at fair value on our consolidated balance sheet with the unrealized gains and losses recorded in accumulated other comprehensive loss. All of our non-current marketable securities will mature in less than 15 months.
6. MARKETABLE SECURITIES (CONTINUED)
At September 30, 2012 our marketable securities were (in thousands):
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses (2)
 
Fair Value (1)
Current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
$
39,306

 
$
14

 
$
(19
)
 
$
39,301

Commercial paper
2,000

 
—

 
—

 
2,000

Certificates of deposit
7,262

 
—

 
(4
)
 
7,258

Government municipal bonds
9,814

 
1

 
(2
)
 
9,813

Current marketable securities
58,382

 
15

 
(25
)
 
58,372

Non-current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
2,019

 
—

 
(3
)
 
2,016

Total marketable securities
$
60,401

 
$
15

 
$
(28
)
 
$
60,388

(1)
Included in amortized cost and fair value is purchased and accrued interest of $485.
(2)
The aggregate fair value of securities with unrealized losses as of September 30, 2012 was $34,503. These investments have been in an unrealized loss position for less than twelve months.
At September 30, 2011 our marketable securities were (in thousands):
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses (2)
 
Fair Value (1)
Current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
$
22,694

 
$
18

 
$
(144
)
 
$
22,568

Commercial paper
4,998

 
—

 
(3
)
 
4,995

Certificates of deposit
8,775

 
—

 
(9
)
 
8,766

Government municipal bonds
15,200

 
3

 
(8
)
 
15,195

Current marketable securities
51,667

 
21

 
(164
)
 
51,524

Non-current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
1,613

 
—

 
(10
)
 
1,603

Total marketable securities
$
53,280

 
$
21

 
$
(174
)
 
$
53,127

(1)
Included in amortized cost and fair value is purchased and accrued interest of $478.
(2)
The aggregate fair value of securities with unrealized losses as of September 30, 2011 was $43,755. These investments have been in an unrealized loss position for less than twelve months.