8. CASH, CASH EQUIVALENTS AND INVESTMENTS

The following is a summary of the Company’s cash, cash equivalents and short-term and long-term investments (in thousands):

	March 31,		December 31,
	2016		2015
Cash, cash equivalents and investments:
Cash	$	50,924	$	58,217
Money market funds		26,884		31,640
Certificates of deposit		18,607		21,574
U.S. treasuries and government agency bonds		155,086		123,532
Auction-rate securities backed by student-loan notes		5,353		5,361
Total	$	256,854	$	240,324

	March 31,		December 31,
	2016		2015
Reported as:
Cash and cash equivalents	$	77,808	$	90,860
Short-term investments		173,693		144,103
Long-term investments		5,353		5,361
Total	$	256,854	$	240,324

The contractual maturities of the Company’s short-term and long-term available-for-sale investments are as follows (in thousands):

	March 31,		December 31,
	2016		2015
Due in less than 1 year	$	140,914	$	110,898
Due in 1 - 5 years		32,779		33,205
Due in greater than 5 years		5,353		5,361
Total	$	179,046	$	149,464

The following tables summarize the unrealized gain and loss positions related to the Company’s investments in marketable securities designated as available-for sale (in thousands):

	March 31, 2016
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Total Fair Value		Fair Value of Investments in Unrealized Loss Position
Money market funds	$	26,884	$	-	$	-		$	26,884	$	-
Certificates of deposit		18,607		-		-			18,607		-
U.S. treasuries and government agency bonds		155,034		66		(14	)		155,086		45,602
Auction-rate securities backed by student-loan notes		5,570		-		(217	)		5,353		5,353
Total	$	206,095	$	66	$	(231	)	$	205,930	$	50,955

	December 31, 2015
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Total Fair Value		Fair Value of Investments in Unrealized Loss Position
Money market funds	$	31,640	$	-	$	-		$	31,640	$	-
Certificates of deposit		21,574		-		-			21,574		-
U.S. treasuries and government agency bonds		123,698		4		(170	)		123,532		110,720
Auction-rate securities backed by student-loan notes		5,570		-		(209	)		5,361		5,361
Total	$	182,482	$	4	$	(379	)	$	182,107	$	116,081