Marketable Securities

9 Months Ended

Mar. 31, 2013

Marketable Securities

Marketable Securities

3.  Marketable Securities

The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of March 31, 2013 (dollars in thousands):

	Fair Value		Cost		Unrealized Gains		Unrealized Losses
U.S. corporate bonds	$	30,535	$	30,540	$	4	$	(9	)
Total short-term marketable securities	$	30,535	$	30,540	$	4	$	(9	)
U.S. corporate bonds	$	44,538	$	44,562	$	3	$	(27	)
Total long-term marketable securities	$	44,538	$	44,562	$	3	$	(27	)

Our marketable securities are classified as available-for-sale and are recorded on the unaudited consolidated balance sheets at fair value with unrealized gains or losses reported as a separate component of accumulated other comprehensive income, net of tax. Our investments consist primarily of investment grade fixed income corporate debt securities with maturity dates ranging from April 2013 through January 2015. Unrealized losses are attributable to changes in interest rates.

We review our marketable securities at each reporting period to determine if any of our securities have experienced an other-than-temporary decline in fair value. During the three and nine months ended March 31, 2013, our marketable securities were not considered other-than-temporarily impaired and, as such, we did not recognize impairment losses during the periods then ended.