MARKETABLE SECURITIES AVAILABLE-FOR-SALE

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



	September 30, 2016
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Corporate bonds	$	16,404	$	9	$	(6	)	$	16,407
Asset-backed securities	4,857		1		(3		)	4,855
Government and agency securities	3,517		5		—			3,522
Mortgage-backed securities	2,195		8		(7		)	2,196
Municipal bonds	790		1		—			791
Total	$	27,763	$	24	$	(16	)	$	27,771



	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

The following table summarizes the amortized cost and fair value of the Company’s marketable securities, classified by maturity as of September 30, 2016 and December 31, 2015 (in thousands):



	September 30, 2016				December 31, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Marketable securities
Due in 1 year or less	$	17,372	$	17,374	$	17,783	$	17,870
Due in 1-2 years	5,277		5,284		15,900		15,858
Due in 2-3 years	2,754		2,753		7,959		7,934
Due in 3-4 years	140		140		2,399		2,408
Due in 4-9 years	917		919		2,844		2,843
Due in 9-20 years	931		929		1,397		1,394
Due in 20-35 years	372		372		2,725		2,702
	$	27,763	$	27,771	$	51,007	$	51,009

Marketable securities classified as available-for-sale are carried at fair value as of September 30, 2016 and December 31, 2015. 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 $12.5 million as of September 30, 2016. Gross unrealized losses on available-for-sale securities were $16,000 as of September 30, 2016, 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 Company had $2.5 million of available-for-sale securities which had been in a continuous loss position for more than 12 months as of September 30, 2016. In addition, the Company intends to hold these securities. Hence it is not more likely than not that the Company will be required to sell these securities before the recovery of their amortized cost basis.