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Note 3 - Investments
12 Months Ended
Dec. 31, 2014
Investments Schedule [Abstract]  
Investment [Text Block]

3. Investments


The following table summarizes the investments by investment category:


   

December 31, 2014

 
   

Cost

   

Gross

Unrealized

Gain

   

Gross

Unrealized

Loss

   

Fair Value

 

Available-for-sale securities:

                               

US treasury securities

  $ 2,056     $ 1     $     $ 2,057  

Municipal bonds

    19,686       43       (17 )     19,712  

Corporate notes/bonds

    16,381       32       (21 )     16,392  

Asset backed securities

    750             (3 )     747  

Total investments

  $ 38,873     $ 76     $ (41 )   $ 38,908  

   

December 31, 2013

 
   

Cost

   

Gross

Unrealized

Gain

   

Gross

Unrealized

Loss

   

Fair Value

 

Available-for-sale securities:

                               

US treasury securities

  $ 25,061     $ 11     $     $ 25,072  

Municipal bonds

    34,912       105       (34 )     34,983  

Corporate notes/bonds

    28,565       105       (22 )     28,648  

Certificate of deposit

    1,500       1             1,501  

Asset backed securities

    685       1             686  

Total investments

  $ 90,723     $ 223     $ (56 )   $ 90,890  

As of December 31, 2014, we had 22 investments that were in an unrealized loss position. The gross unrealized losses on these investments at December 31, 2014 were primarily due to changes in interest rates and determined to be temporary in nature. The Company reviews the investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value.


The realized gain related to the Company’s available-for-sale investment, which was reclassified from other comprehensive income, was included in other income in the consolidated statements of income.


The contractual maturities of available-for-sale securities at December 31, 2014 are presented in the following table:


   

Cost

   

Fair Value

 

Due in one year or less

  $ 13,613     $ 13,656  

Due between one and five years

    25,260       25,252  
    $ 38,873     $ 38,908  

In 2014 and 2013, the Company used cash to purchase a minority interest in an early stage private company for $5,000 and $2,621, respectively. The Company’s ownership in the entity is less than 10% and the Company does not have significant influence, therefore, the investment is accounted for under the cost method and included in other assets in the Company’s consolidated balance sheets.