Short-Term Investments

3 Months Ended

Mar. 31, 2012

Short-Term Investments [Abstract]

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, debt securities and equity securities. At March 31, 2012, 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 March 31, 2012:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
US Treasury	$	25,003	$	1	$	21	$	24,983
Corporate bonds		84,729		50		44		84,735
Total	$	109,732	$	51	$	65	$	109,718
Maturities of investments were as follows:
Less than one year	$	75,677	$	51	$	26	$	75,702
Longer than one year		34,055		—		39		34,016
	$	109,732	$	51	$	65	$	109,718

The following summarizes the Company's available for sale investments at December 31, 2011:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	48,351	$	14	$	3	$	48,362
Corporate bonds		80,143		43		70		80,116
	$	128,494	$	57	$	73	$	128,478
Maturities of investments were as follows:
Less than one year	$	99,190	$	42	$	39	$	99,193
Greater than one year		29,304		15		34		29,285
Total	$	128,494	$	57	$	73	$	128,478