MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2014

Marketable Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

At March 31, 2014, current available-for-sale marketable securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Corporate debt securities	$	33,964	$	15	$	(18	)	$	33,961
Total debt securities	33,964		15		(18		)	33,961
Equity securities	314		5,268		—			5,582
Total marketable securities	$	34,278	$	5,283	$	(18	)	$	39,543

At December 31, 2013, current available-for-sale marketable securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Corporate debt security	$	1,004	$	4	$	—	$	1,008
Total debt security	1,004		4		—		1,008
Equity securities	216		4,780		—		4,996
Total marketable securities	$	1,220	$	4,784	$	—	$	6,004

The net unrealized gains in the tables above are included in "Accumulated other comprehensive loss" in the accompanying consolidated balance sheet.

The contractual maturities of debt securities classified as current available-for-sale at March 31, 2014 are as follows:

	Amortized Cost		Estimated Fair Value
	(In thousands)
Due in one year or less	$	6,081	$	6,082
Due after one year through five years	27,883		27,879
Total	$	33,964	$	33,961

The following table summarizes investments in current available-for-sale marketable debt securities (4 in total at March 31, 2014) that have been in a continuous unrealized loss position for less than twelve months:

	March 31,
	2014					2013
	(In thousands)
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate debt securities	$	16,174	$	(18	)	$	—	$	—
Total	$	16,174	$	(18	)	$	—	$	—

At March 31, 2014 and 2013, there are no investments in current available-for-sale marketable securities that have been in a continuous unrealized loss position for twelve months or longer.

All of the Company’s marketable debt securities are rated investment grade. The gross unrealized losses on the marketable debt securities relate principally to changes in interest rates. Because the Company does not intend to sell any marketable debt securities and it is not more likely than not that the Company will be required to sell any marketable debt securities before recovery of their amortized cost bases, which may be maturity, the Company does not consider any of its marketable debt securities to be other-than-temporarily impaired at March 31, 2014.

The following table presents the proceeds from maturities and sales of current and non-current available-for-sale marketable securities:

	Three Months Ended March 31,
	2014		2013
	(In thousands)
Proceeds from maturities and sales of available-for-sale marketable securities	$	—	$	12,500

There were no gross realized gains or losses from the maturities and sales of available-for-sale marketable securities for the three months endedMarch 31, 2014 and 2013.

The specific-identification method is used to determine the cost of securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income into earnings.