NOTE 4 — INVESTMENTS:

Cash, Cash equivalents and Short-term investments

The short-term investments are classified as available-for-sale securities. The cash, cash equivalents and short-term investments at March 31, 2015 and December 31, 2014 were as follows:

	March 31, 2015
	Amortized Cost			Unrealized Gains		Unrealized Losses			Estimated Fair Value
	(in thousands)
Cash	$	58,787		$	—	$	—		$	58,787
Money market funds	869			—		—			869
Certificates of deposit	91,370			9		(2		)	91,377
U.S. Government and agency securities	102,465			78		(12		)	102,531
Commercial paper	17,947			18		—			17,965
Corporate bonds	120,341			117		(89		)	120,369
Municipal bonds	25,185			13		(37		)	25,161
Foreign government bonds	12,083			3		(21		)	12,065
Total	$	429,047		$	238	$	(161	)	$	429,124
Less amounts classified as cash and cash equivalents	(61,656		)	—		—			(61,656		)
	$	367,391		$	238	$	(161	)	$	367,468

	December 31, 2014
	Amortized Cost			Unrealized Gains		Unrealized Losses			Estimated Fair Value
	(in thousands)
Cash	$	46,900		$	—	$	—		$	46,900
Money market funds	4,426			—		—			4,426
Certificates of deposit	80,304			1		(30		)	80,275
U.S. Government and agency securities	99,236			9		(131		)	99,114
Commercial paper	23,017			3		(1		)	23,019
Corporate bonds	112,033			16		(313		)	111,736
Municipal bonds	13,151			—		(47		)	13,104
Foreign government bonds	6,809			—		(19		)	6,790
Total	$	385,876		$	29	$	(541	)	$	385,364
Less amounts classified as cash and cash equivalents	(51,326		)	—		—			(51,326		)
	$	334,550		$	29	$	(541	)	$	334,038

Realized gains (losses), net upon the sale of marketable securities were less than $0.1 million and $0.4 million for the three months ended March 31, 2015 and March 31, 2014, respectively. At March 31, 2015, investments with unrealized losses were not deemed to be other-than-temporarily impaired and the gross unrealized losses were recorded in other comprehensive income, (“OCI”). The gross unrealized losses on investments that were in a gross unrealized loss position for greater than 12 months were immaterial.

The contractual maturities of short-term investments at March 31, 2015 and December 31, 2014 were as follows:

	March 31, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(in thousands)
Due in less than one year	$	126,109	$	126,123	$	129,150	$	129,155
Due in one to three years	241,282		241,345		205,400		204,883
	$	367,391	$	367,468	$	334,550	$	334,038

Restricted cash and deposits

The Company maintains certain cash amounts restricted as to withdrawal or use. It maintained a balance of $3.6 million at March 31, 2015 and December 31, 2014, which were designated for contingent payments related to acquisitions.

Investments in privately-held companies

As of March 31, 2015 and December 31, 2014, the Company held a total of $7.7 million and $10.7 million, respectively, of investments in three privately-held companies. On April 27, 2015, the Company was informed that one of the privately-held companies intends to discontinue its operations. As a result, the Company concluded that its investment of $3.2 million in this privately-held company was impaired and the impairment of this investment was other than temporary. The impairment loss was included in other loss, net, on the unaudited condensed consolidated statements of operations for the three months ended March 31, 2015. Prior to the impairment, the carrying value of the Company’s investment was $3.2 million of which $0.2 million was classified within other current assets and $3.0 million was classified within other long term assets.