Cash and Cash Equivalents and Short-term Investments

6 Months Ended

Jun. 30, 2014

Cash and Cash Equivalents and Short-term Investments

Cash and Cash Equivalents and Short-term Investments

Note 3 Cash and Cash Equivalents and Short-term Investments

Certain information related to our cash and cash equivalents and short-term investments follows:

	June 30, 2014							December 31, 2013
	Fair Value		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses
	(In thousands)
Cash and cash equivalents	$	410,958	$	—	$	—		$	389,915	$	—	$	—
Short-term investments:
Available-for-sale equity securities	75,366		48,041		—			96,942		68,395		—
Available-for-sale debt securities:
Corporate debt securities	—		—		—			19,388		4,122		—
Mortgage-backed debt securities	—		—		—			210		11		—
Mortgage-CMO debt securities	20		—		(1		)	20		—		(2		)
Asset-backed debt securities	—		—		—			658		2		(54		)
Total available-for-sale debt securities	20		—		(1		)	20,276		4,135		(56		)
Total available-for-sale securities	75,386		48,041		(1		)	117,218		72,530		(56		)
Total short-term investments	75,386		48,041		(1		)	117,218		72,530		(56		)
Total cash, cash equivalents and short-term investments	$	486,344	$	48,041	$	(1	)	$	507,133	$	72,530	$	(56	)

Certain information related to the gross unrealized losses of our short-term investments follows:

	As of June 30, 2014
	Less Than 12 Months				More Than 12 Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
Available-for-sale debt securities:
Mortgage-CMO debt securities	$	—	$	—	$	20	$	1
Total available-for-sale debt securities	—		—		20		1
Total	$	—	$	—	$	20	$	1

The estimated fair values of our mortgage-CMO debt securities at June 30, 2014, classified by time to contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to repay obligations without prepayment penalties and we may elect to sell the securities prior to the contractual maturity date.

	Estimated
	Fair Value
	June 30, 2014
	(In thousands)
Debt securities:
Due in one year or less	$	—
Due after one year through five years	—
Due in more than five years	20
Total debt securities	$	20

Certain information regarding our debt and equity securities is presented below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(In thousands)				(In thousands)
Available-for-sale
Proceeds from sales and maturities	$	22,178	$	20,352	$	22,313	$	106,953
Realized gains (losses), net	$	4,903	$	12,183	$	4,903	$	88,157