INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investments

The following table summarizes, by major security type, the Company's investments as of December 31, 2014 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale securities:
Short-term investments:
Foreign government securities	$	52,524	$	—	$	(34	)	$	52,490
U.S. government securities	364,276		24		(34		)	364,266
U.S. commercial paper	621,252		15		(652		)	620,615
U.S. government agency securities	104,829		—		(18		)	104,811
Total short-term investments	$	1,142,881	$	39	$	(738	)	$	1,142,182
Long-term investments:
Foreign government securities	$	12,707	$	—	$	(36	)	$	12,671
U.S. government securities	557,130		80		(762		)	556,448
U.S. corporate debt securities	2,332,030		2,299		(5,296		)	2,329,033
U.S. government agency securities	95,108		97		(111		)	95,094
U.S. municipal securities	1,114		—		(12		)	1,102
Ctrip corporate debt securities	500,000		—		(74,039		)	425,961
Ctrip equity securities	421,930		—		(86,586		)	335,344
Total long-term investments	$	3,920,019	$	2,476	$	(166,842	)	$	3,755,653

The following table summarizes, by major security type, the Company's short-term investments as of December 31, 2013 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale securities:
Short-term investments:
Foreign government securities	$	4,019,530	$	233	$	(356	)	$	4,019,407
U.S. government securities	1,443,083		250		(20		)	1,443,313
Total	$	5,462,613	$	483	$	(376	)	$	5,462,720