3. MARKETABLE SECURITIES

Marketable securities classified as available-for-sale consisted of the following (in thousands):


	December 31, 2013
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Corporate bonds	$	45,414	$	75	$	(7	)	$	45,482
Asset-backed securities		21,222		12		(8	)		21,226
Mortgage-backed securities		15,110		33		(26	)		15,117
Commercial paper		13,890		2		—			13,892
Government and agency securities		12,255		9		—			12,264
Municipal bonds		3,817		—		(4	)		3,813
Certificates of deposit		750		—		—			750

	$	112,458	$	131	$	(45	)	$	112,544


	December 31, 2012
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Corporate bonds	$	49,545	$	203	$	(4	)	$	49,744
Government and agency securities		23,431		43		(27	)		23,447
Asset-backed securities		23,079		70		—			23,149
Mortgage-backed securities		12,064		40		(15	)		12,089
Commercial paper		1,200		—		—			1,200
Municipal bonds		6,273		13		—			6,286
Certificates of deposit		1,003		1		—			1,004
Floating rate notes		1,266		2		—			1,268

	$	117,861	$	372	$	(46	)	$	118,187

The following table summarizes the amortized cost and fair value of the Company’s marketable securities, classified by stated maturity as of December 31, 2013 and 2012 (in thousands):


	December 31, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Marketable securities
Due in 1 year or less	$	59,384	$	59,448	$	53,761	$	53,852
Due in 1-2 years		21,628		21,641		36,510		36,694
Due in 2-3 years		10,063		10,060		11,847		11,856
Due in 3-4 years		—		—		744		746
Due in 4-9 years		7,587		7,610		5,158		5,179
Due in 9-20 years		1,629		1,639		1,032		1,040
Due in 20-33 years		12,167		12,146		8,809		8,820

	$	112,458	$	112,544	$	117,861	$	118,187

Marketable securities classified as available-for-sale are carried at fair value as of December 31, 2013 and 2012. Realized gains and losses from sales and maturities of marketable securities were not significant in the periods presented.

The aggregate fair value of available-for-sale securities with unrealized losses was $25.9 million as of December 31, 2013. Gross unrealized losses on available-for-sale securities were $45,000 as of December 31, 2013, and the Company believes the gross unrealized losses are temporary. In determining that the decline in fair value of these securities was temporary, the Company considered the length of time each security was in an unrealized loss position and the extent to which the fair value was less than cost. There were no available-for-sale securities which had been in a continuous loss position for more than 12 months as of December 31, 2013.