Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Marketable investment securities

The following is a summary of the Company's marketable investment securities (in thousands):

				Gross		Gross
				unrealized		unrealized
		Amortized		holding		holding		Fair
		cost		gains		losses		value
As of September 30, 2014:
Debt securities:
Corporate debt	$	107,211	$	15	$	(45)	$	107,181
Government agency debt		8,792		6		-		8,798
Total marketable investment securites	$	116,003	$	21	$	(45)	$	115,979

				Gross		Gross
				unrealized		unrealized
		Amortized		holding		holding		Fair
		cost		gains		losses		value
As of December 31, 2013:
Debt securities:
Corporate	$	103,175	$	23	$	(60)	$	103,138
Government agency		26,110		22		-		26,132
Total marketable investment securites	$	129,285	$	45	$	(60)	$	129,270

Marketable investment securities available for sale in an unrealized loss position

Marketable investment securities available for sale in an unrealized loss position as of September 30, 2014 and December 31, 2013 are summarized as follows (in thousands):

		Held for less than 12 months				Held for more than 12 months				Total
				Unrealized				Unrealized				Unrealized
		Fair value		losses		Fair value		losses		Fair value		losses
As of September 30, 2014:
Available for Sale:
Debt securities:
Corporate debt	$	82,985	$	45	$	-	$	-	$	82,985	$	45
Government agency
debt		-		-		-		-		-		-
	$	82,985	$	45	$	-	$	-	$	82,985	$	45
As of December 31, 2013:
Available for Sale:
Debt securities:
Corporate debt	$	74,407	$	56	$	5,732	$	4	$	80,139	$	60
Government agency
debt		-		-		-		-		-		-
	$	74,407	$	56	$	5,732	$	4	$	80,139	$	60

Maturities of marketable investment securities

Summary of Contractual Maturities

Maturities of marketable investment securities are as follows at September 30, 2014 and December 31, 2013 (in thousands):

		As of September 30, 2014				As of December 31, 2013
		Amortized				Amortized
		cost		Fair value		cost		Fair value
Due within one year	$	107,385	$	107,360	$	103,280	$	103,266
Due after one year through five years		8,618		8,619		26,005		26,004
Due after five years		-		-		-		-
Total debt securities	$	116,003	$	115,979	$	129,285	$	129,270

Proceeds from maturities and sales of available for sale securities and resulting gain and losses

The proceeds from maturities and sales of available for sale securities and resulting realized gains and losses, were as follows (in thousands):

		For the Three Months				For the Nine Months
		Ended September 30,				Ended September 30,
		2014		2013		2014		2013
Proceeds from sales and maturities	$	21,810	$	18,045	$	99,769	$	64,702
Realized gains		5		-		12		2
Realized losses		-		-		-		-