Short-Term Investments

9 Months Ended

Sep. 30, 2013

Short-Term Investments

Short-Term Investments

Note 2.  Short-Term Investments

Short-term investments consist of fixed income securities with remaining maturities of greater than three months at the date of purchase.  At September 30, 2013, all of our short-term investments are classified as available for sale investments and measured as level 1 instruments of the fair value measurements standard.

The following summarizes the Company’s available for sale investments at September 30, 2013:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	24,741	$	6	$	1	$	24,746
Corporate bonds	44,867		17		22		44,862
Total	$	69,608	$	23	$	23	$	69,608
Maturities of investments were as follows:
Less than one year	$	45,618	$	14	$	3	$	45,629
Greater than one year	23,990		9		20		23,979
Total	$	69,608	$	23	$	23	$	69,608

The following summarizes the Company’s available for sale investments at December 31, 2012:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	29,000	$	8	$	—	$	29,008
Corporate bonds	42,334		10		14		42,330
Total	$	71,334	$	18	$	14	$	71,338
Maturities of investments were as follows:
Less than one year	$	34,553	$	10	$	3	$	34,560
Greater than one year	36,781		8		11		36,778
Total	$	71,334	$	18	$	14	$	71,338