MARKETABLE SECURITIES

9 Months Ended

Sep. 30, 2014

Marketable Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

At September 30, 2014, current available-for-sale marketable securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	117,033	$	18	$	(110	)	$	116,941
Total debt securities	117,033		18		(110		)	116,941
Equity security	98		2,010		—			2,108
Total marketable securities	$	117,131	$	2,028	$	(110	)	$	119,049

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		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 September 30, 2014 are as follows:

	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	46,160	$	46,154
Due after one year through five years	70,873		70,787
Total	$	117,033	$	116,941

The following table summarizes investments in current available-for-sale marketable debt securities (33 in total at September 30, 2014) that have been in a continuous unrealized loss position for less than twelve months:

	September 30, 2014					December 31, 2013
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In thousands)
Corporate debt securities	$	72,643	$	(110	)	$	—	$	—
Total	$	72,643	$	(110	)	$	—	$	—

At September 30, 2014 and December 31, 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 September 30, 2014.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
	(In thousands)
Proceeds from maturities and sales of available-for-sale marketable securities	$	1,114	$	41,976	$	4,576	$	54,478
Gross realized gains	1,063		17,977		3,362		17,977

There were no realized losses from the maturities and sales of available-for-sale marketable securities for the three and nine months ended September 30, 2014 and 2013. Gross realized gains from the maturities and sales of available-for-sale marketable securities are included in "Other income (expense), net" in the accompanying consolidated statement of operations.

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.