NOTE 3. INVESTMENTS

Our investments are classified as either available-for-sale or held-to-maturity. The following table summarizes available-for-sale and held-to-maturity investments as of June 30, 2014 and March 31, 2014 (in thousands):

	Available-for-Sale Investments
June 30, 2014	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Corporate bonds	$	10,379	$	21	$	(22	)	$	10,378
Total available-for-sale investments	$	10,379	$	21	$	(22	)	$	10,378

	Held-to-Maturity Investments
June 30, 2014	Amortized Cost		Gross Unrecognized Gain		Gross Unrecognized (Loss)			Fair Value
Certificates of deposit	$	3,481	$	-	$	(6	)	$	3,475
Commercial paper		6,996		1		-			6,997
Corporate bonds		14,640		56		(24	)		14,672
Municipal bonds		3,055		31		(9	)		3,077
Total held-to-maturity investments	$	28,172	$	88	$	(39	)	$	28,221

	Available-for-Sale Investments
March 31, 2014	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Certificates of deposit	$	498	$	1	$	-		$	499
Corporate bonds		10,392		32		(42	)		10,382
Total available-for-sale investments	$	10,890	$	33	$	(42	)	$	10,881

	Held-to-Maturity Investments
March 31, 2014	Amortized Cost		Gross Unrecognized Gain		Gross Unrecognized (Loss)			Fair Value
Certificates of deposit	$	5,722	$	-	$	(8	)	$	5,714
Commercial paper		12,991		-		(1	)		12,990
Corporate bonds		14,920		65		(33	)		14,952
Municipal bonds		3,079		20		(29	)		3,070
Total held-to-maturity investments	$	36,712	$	85	$	(71	)	$	36,726

The amortized cost of our held-to-maturity investments approximates their fair value. As of June 30, 2014 and March 31, 2014, we did not have other-than-temporary impairment in the fair value of any individual security classified as held-to-maturity or available-for-sale. As of June 30, 2014 and March 31, 2014, we had unrealized losses on available-for-sale investments, net of related income taxes of $1,000 and $5,000, respectively. During the three months ended June 30, 2014 and 2013, redemptions of investments in accordance with callable provisions were $1.3 million and $623,000, respectively.

The following table summarizes the amortized cost and fair value of our investments, classified by stated maturity as of June 30, 2014 and March 31, 2014 (in thousands):

	June 30, 2014				June 30, 2014
	Available-for-Sale Investments				Held-to-Maturity Investments
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	6,007	$	6,028	$	14,111	$	14,108
Due in 1 to 4 years		4,372		4,350		14,061		14,113
Total investments	$	10,379	$	10,378	$	28,172	$	28,221

	March 31, 2014				March 31, 2014
	Available-for-Sale Investments				Held-to-Maturity Investments
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	6,509	$	6,542	$	22,560	$	22,571
Due in 1 to 4 years		4,381		4,339		14,152		14,155
Total investments	$	10,890	$	10,881	$	36,712	$	36,726