Available-for-sale Securities

9 Months Ended

Sep. 30, 2013

Available-for-sale Securities

Note 3. Available-for-sale Securities

The following is a summary of available-for-sale securities at September 30, 2013 (in thousands):

	September 30, 2013
	Amortized Cost		Gross Unrealized Loss			Fair Value
Money market funds	$	7,862				$	7,862
United States government agency securities		4,027		(4	)		4,023
Corporate debt securities		24,977		(29	)		24,948
Total available-for-sale securities	$	36,866	$	(33	)	$	36,833

The fair value of the Company’s available-for-sales securities equaled cost at December 31, 2012.

Available-for-sale securities at September 30, 2013 and December 31, 2012, consisted of the following by original contractual maturity (in thousands):

	September 30, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	24,509	$	24,492	$	10,268	$	10,268
Due greater than one year and less than five years		12,357		12,341		—		—
Total available-for-sale securities	$	36,866	$	36,833	$	10,268	$	10,268

The maturities of certain short-term investments were estimated primarily based upon assumed prepayment features and credit enhancement characteristics.

Gross realized gains from the sale or maturity of available-for-sale investments were zero during each of the three and nine month periods ended September 30, 2013 and 2012. The Company did not record losses on investments experiencing an other-than-temporary decline in fair value nor did it record any gross realized losses from the sale or maturity of available-for-sale investments during the three and nine months ended September 30, 2013, and 2012.