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 September 30, 2014 and March 31, 2014 (in thousands):

	Available-for-Sale Investments
September 30, 2014	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Corporate bonds	$	10,366	$	7	$	(36	)	$	10,337
Total available-for-sale investments	$	10,366	$	7	$	(36	)	$	10,337

	Held-to-Maturity Investments
September 30, 2014	Amortized Cost		Gross Unrecognized Gain		Gross Unrecognized (Loss)			Fair Value
Certificates of deposit	$	4,477	$	-	$	(6	)	$	4,471
Commercial paper		3,995		1		(1	)		3,995
Corporate bonds		19,855		31		(85	)		19,801
Municipal bonds		3,031		17		(3	)		3,045
Total held-to-maturity investments	$	31,358	$	49	$	(95	)	$	31,312

	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 September 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 September 30, 2014 and March 31, 2014, we had unrealized losses on available-for-sale investments, net of related income taxes of $18,000 and $5,000, respectively. During the three months ended September 30, 2014 and 2013, we did not have any redemption of investments in accordance with callable provisions. During the six months ended September 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 September 30, 2014 and March 31, 2014 (in thousands):

	September 30, 2014				September 30, 2014
	Available-for-Sale Investments				Held-to-Maturity Investments
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	6,003	$	6,010	$	14,834	$	14,821
Due in 1 to 4 years		4,363		4,327		16,524		16,491
Total investments	$	10,366	$	10,337	$	31,358	$	31,312

	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