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Marketable Securities
 3 Months Ended
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities
Marketable securities at June 30, 2013 and December 31, 2012 consist of debt and equity securities. The Company also held restricted marketable securities at December 31, 2012, which consisted of debt securities, as detailed below, that collateralized letters of credit and lease obligations. During the second quarter of 2013, these collateral requirements were rescinded, either due to cancellation of the associated letter of credit or easing of lender requirements on the Company. As a result, during the second quarter of 2013, all formerly restricted marketable securities were reclassified as unrestricted on the Company's balance sheet which, for the purpose of the Company's Statement of Cash Flows, was treated as a non-cash investing transaction.
The following tables summarize the Company's investments in marketable securities at June 30, 2013 and December 31, 2012.
 
 
Amortized
 
Unrealized
 
Fair
At June 30, 2013
 
Cost Basis
 
Gains
 
Losses
 
Value
Unrestricted
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
 
$
85,662

 
$
52

 
$
(309
)
 
$
85,405

Corporate bonds
 
157,593

 
6

 
(271
)
 
157,328

Commercial paper
 
62,159

 


 


 
62,159

Municipal bonds
 
17,172

 
1

 
(22
)
 
17,151

International government agency obligations
 
4,824

 


 
(8
)
 
4,816

     Equity securities
 
4,044

 


 
(1,744
)
 
2,300

 
 
$
331,454

 
$
59

 
$
(2,354
)
 
$
329,159

At December 31, 2012
 
 
 
 
 
 
 
 
Unrestricted
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
 
$
327,502

 
$
661

 
$
(17
)
 
$
328,146

Municipal bonds
 
17,542

 


 
(32
)
 
17,510

Equity securities
 
4,044

 

 
(651
)
 
3,393

 
 
349,088

 
661

 
(700
)
 
349,049

Restricted
 
 
 
 
 
 
 
 
U.S. government obligations
 
5,902

 
9

 
(2
)
 
5,909

 
 
$
354,990

 
$
670

 
$
(702
)
 
$
354,958


The Company classifies its debt securities based on their contractual maturity dates. The debt securities listed at June 30, 2013 mature at various dates through January 2016. The fair values of debt security investments by contractual maturity as of June 30, 2013 and December 31, 2012 consist of the following:
 
 
June 30,
 
December 31,
 
 
2013
 
2012
Unrestricted
 
 
 
 
Maturities within one year
 
$
155,831

 
$
77,819

Maturities after one year through five years
 
171,028

 
267,837

 
 
326,859

 
345,656

Restricted
 
 
 
 
Maturities within one year
 


 
2,781

Maturities after one year through five years
 


 
3,128

 
 

 
5,909

 
 
$
326,859

 
$
351,565

The following table shows the fair value of the Company’s marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at June 30, 2013 and December 31, 2012.
 
Less than 12 Months
 
12 Months or Greater
 
Total
At June 30, 2013
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Unrestricted
 
 
 
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
$
69,106

 
$
(309
)
 
 
 
 
 
$
69,106

 
$
(309
)
Corporate bonds
142,244

 
(271
)
 
 
 
 
 
142,244

 
(271
)
Municipal bonds
7,678

 
(22
)
 
 
 
 
 
7,678

 
(22
)
International government agency obligations
4,816

 
(8
)
 
 
 
 
 
4,816

 
(8
)
Equity security
 
 
 
 
$
2,300

 
$
(1,744
)
 
2,300

 
(1,744
)
 
$
223,844

 
$
(610
)
 
$
2,300

 
$
(1,744
)
 
$
226,144

 
$
(2,354
)
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
Unrestricted
 
 
 
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
$
44,738

 
$
(17
)
 
 
 
 
 
$
44,738

 
$
(17
)
Municipal bonds
17,510

 
(32
)
 
 
 
 
 
17,510

 
(32
)
Equity security


 


 
$
3,393

 
$
(651
)
 
3,393

 
(651
)
 
62,248

 
(49
)
 
3,393

 
(651
)
 
65,641

 
(700
)
Restricted
 
 
 
 
 
 
 
 
 
 
 
U.S. government obligations
1,194

 
(2
)
 


 


 
1,194

 
(2
)
 
$
63,442

 
$
(51
)
 
$
3,393

 
$
(651
)
 
$
66,835

 
$
(702
)


Realized gains and losses are included as a component of investment income. For both the three and six months ended June 30, 2013, total realized gains on sales of marketable securities were $0.5 million and there were no realized losses. For both the three and six months ended June 30, 2012, total realized gains and losses on sales of marketable securities were not material.