Short-term Investments

12 Months Ended

Dec. 31, 2012

Short-term Investments [Abstract]

Short-Term Investments

SHORT-TERM INVESTMENTS

Short-term investments at December 31, 2012 were comprised of an equity investment in the common stock of certain technology companies and investments in highly liquid, AAA, U.S. government fixed income securities with maturity dates ranging from 2013 to 2014. Short-term marketable securities for the periods presented were comprised of the following (in thousands):

	December 31, 2012
Security Type	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government fixed income securities	$	87,394	$	20	$	(411	)	$	87,003
Equity securities of certain technology companies	3,254		—		(782		)	2,472
Total short-term investments	$	90,648	$	20	$	(1,193	)	$	89,475

	December 31, 2011
Security Type	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities of certain technology companies	8,427		169		(1,999		)	6,597
Total short-term investments	$	8,427	$	169	$	(1,999	)	$	6,597

Short-term marketable securities in unrealized loss positions at December 31, 2012 and 2011 have been in continuous unrealized loss positions for less than one year.

U.S. government fixed income securities. The gross unrealized loss can be primarily attributed to a combination of market conditions as well as the demand for and duration of the U.S. government fixed income securities. The Company has the ability to hold these securities until maturity, currently has no intent to sell, there is no requirement to sell and the Company believes that it can recover the amortized cost of these investments.

Equity securities. The gross unrealized loss can be primarily attributed to volatility associated with technology company equity securities and related fluctuations in equity market conditions and trends. During the year ended December 31, 2012, the fair value of the equity securities fluctuated significantly, resulting in gross unrealized gains and losses ranging from 60% to (42)%, respectively, during the year. Subsequent to December 31, 2012, the Company's equity security holdings are in an unrealized gain position. In addition, the Company is aware of certain industry analyst reports with one-year price targets that tend to support classification of the December 31, 2012 unrealized loss position of its equity securities as temporary. The Company believes that it can recover the amortized cost of these investments.

The Company has found no evidence of impairment due to credit losses in its portfolio. Therefore, these unrealized losses were recorded in other comprehensive income (loss). However, the Company cannot provide any assurance that its portfolio of short-term marketable securities will not be impacted by adverse conditions in the financial markets, which may require the Company in the future to record an impairment charge for credit losses which could adversely impact its financial results.

For the year ended December 31, 2012, proceeds from the sale of short-term marketable securities classified as available-for-sale were $319,811,000, gross realized gains were $31,000 and gross realized losses were $555,000. Proceeds from the sale of short-term marketable securities classified as available-for-sale and related gross realized gains and losses were not material for the years ended December 31, 2011 and 2010.