MARKETABLE SECURITIES

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



	December 31, 2015
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Corporate bonds	$	25,608	$	122	$	(73	)	$	25,657
Asset-backed securities	12,424		—		(31		)	12,393
Mortgage-backed securities	4,800		2		(23		)	4,779
Government and agency securities	5,705		16		(9		)	5,712
Municipal bonds	2,470		—		(2		)	2,468
Total	$	51,007	$	140	$	(138	)	$	51,009



	December 31, 2014
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Corporate bonds	$	62,208	$	16	$	(134	)	$	62,090
Asset-backed securities	49,343		5		(38		)	49,310
Mortgage-backed securities	19,280		25		(114		)	19,191
Commercial paper	18,698		2		—			18,700
Government and agency securities	11,868		14		(4		)	11,878
Municipal bonds	3,448		3		(1		)	3,450
Total	$	164,845	$	65	$	(291	)	$	164,619

The following table summarizes the amortized cost and fair value of the Company’s marketable securities, classified by maturity as of December 31, 2015 and 2014 (in thousands):



	December 31, 2015				December 31, 2014
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Marketable securities
Due in 1 year or less	$	17,783	$	17,870	$	46,759	$	46,754
Due in 1-2 years	15,900		15,858		53,698		53,639
Due in 2-3 years	7,959		7,934		30,558		30,505
Due in 3-4 years	2,399		2,408		11,277		11,275
Due in 4-9 years	2,844		2,843		7,280		7,275
Due in 9-20 years	1,397		1,394		1,257		1,266
Due in 20-35 years	2,725		2,702		14,016		13,905
	$	51,007	$	51,009	$	164,845	$	164,619

Marketable securities classified as available-for-sale are carried at fair value as of December 31, 2015 and 2014. 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 $44.5 million as of December 31, 2015. Gross unrealized losses on available-for-sale securities were $0.1 million as of December 31, 2015, 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. The aggregate fair value and unrealized loss of available-for-sale securities which had been in a continuous loss position for more than 12 months was $1.9 million and $12,000 as of December 31, 2015, respectively. In addition, the Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities before the recovery of their amortized cost basis.