3.	INVESTMENTS

The Company determines the appropriate classification of debt and equity investments at the time of purchase and re-evaluates such designation as of each balance sheet date. The Company considers all of its investments to be available-for-sale. Short-term investments consist of government/federal notes and bonds and corporate obligations with maturities greater than 90 days at the time of purchase. Available-for-sale short-term investments with contractual maturities beyond one year are classified as current in the Company's consolidated balance sheets because they represent the investment of cash that is available for current operations. Long-term investments consist of variable rate debt instruments with an auction reset feature, referred to as auction rate securities (“ARS”). Investments are carried at fair market value.

Scheduled maturities of investments classified as available-for-sale as of June 30, 2011 are as follows (in thousands):

Maturity	Fair Value
Due:
July 1, 2011 ¾ June 30, 2012	$	2,725
July 1, 2012 ¾ June 30, 2016		817
July 1, 2016 ¾ June 30, 2021		63
After June 30, 2021		29,014
Available-for-sale investments	$	32,619

The realized gains on the Company's investments for the three and six months ended June 30, 2011 and 2010 were approximately $0 and $3,000, respectively. The realized losses on the Company's investments for the three months ended June 30, 2011 and 2010 were approximately $0 and $1,000, respectively. The realized losses on the Company's investments for the six months ended June 30, 2011 and 2010 were approximately $0 and $41,000, respectively.

Unrealized holding gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) in stockholders' equity until realized. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis. A decline in market value of any available-for-sale security below cost that is deemed to be other-than-temporary results in a reduction in carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. Dividend and interest income are recognized when earned.

As of June 30, 2011, the amortized cost basis and fair value of investments classified as available-for-sale are as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate debt securities	$	3,401	$	141	$	¾		$	3,542
Government-sponsored enterprise obligations		63		¾		¾			63
Auction rate securities		32,000		¾		(2,986	)		29,014
Available-for-sale investments	$	35,464	$	141	$	(2,986	)	$	32,619

As of December 31, 2010, the amortized cost basis and fair value of investments classified as available-for-sale are as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Collateralized debt obligations	$	46	$	¾	$	¾		$	46
Corporate debt securities		3,407		196		¾			3,603
Government-sponsored enterprise obligations		74		¾		(1	)		73
Auction rate securities		32,175		¾		(2,986	)		29,189
Available-for-sale investments	$	35,702	$	196	$	(2,987	)	$	32,911

The unrealized losses on the Company's investments as of June 30, 2011 and December 31, 2010 were generated primarily from changes in interest rates. The losses are considered temporary, as the contractual terms of these investments do not permit the issuer to settle the security at a price less than the amortized cost of the investment. Because the Company does not intend to sell these instruments and it is more likely than not that the Company will not be required to sell these instruments prior to anticipated recovery, which may be at maturity, it does not consider these investments to be other-than-temporarily impaired as of June 30, 2011 and December 31, 2010, respectively. See Note 4 to the condensed consolidated financial statements for further discussion on the fair value of the Company's financial assets.

The components of the Company's investments in an unrealized loss position for more than twelve months consist of the following (in thousands):

	June 30,							December 31,
	2011							2010
	Aggregate Fair Value			Gross Unrealized Losses				Aggregate Fair Value			Gross Unrealized Losses
Government-sponsored enterprise obligations		$	63		$	¾			$	73		$	(1	)
Auction rate securities			29,014			(2,986	)			29,189			(2,986	)
Investments in an unrealized loss position		$	29,077		$	(2,986	)		$	29,262		$	(2,987	)

The Company did not have any investments in an unrealized loss position for less than twelve months as of June 30, 2011 and December 31, 2010, respectively.