Short-Term Investments

9 Months Ended

Sep. 30, 2012

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, 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 September 30, 2012:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	50,000	$	12	$	—	$	50,012
Corporate Bonds		44,868		22		17		44,873
Foreign Bonds		3,006		—		—		3,006
Total	$	97,874	$	34	$	17	$	97,891
Maturities of investments were as follows:
Less than one year	$	57,745	$	22	$	4	$	57,763
Greater than one year		40,129		12		13		40,128
Total	$	97,874	$	34	$	17	$	97,891

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
Total	$	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