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Marketable Securities
 12 Months Ended
Dec. 31, 2015
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities
The following is a summary of marketable securities designated as available-for-sale as of December 31, 2015 and 2014:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(in thousands)
December 31, 2015
 
 
 
 
 
 
 
Corporate bonds
$
125,132

 
$
1

 
$
(304
)
 
$
124,829

Municipal bonds
16,228

 
2

 
(6
)
 
16,224

Commercial paper
37,236

 
—

 
—

 
37,236

Government securities
8,704

 
1

 
(17
)
 
8,688

Agency securities
7,273

 
—

 
(20
)
 
7,253

Certificates of deposit
2,244

 
—

 
—

 
2,244

Total marketable securities
$
196,817

 
$
4

 
$
(347
)
 
$
196,474

December 31, 2014
 
 
 
 
 
 
 
Corporate bonds
$
99,592

 
$
1

 
$
(119
)
 
$
99,474

Municipal bonds
18,146

 
1

 
(10
)
 
18,137

Commercial paper
9,196

 
—

 
—

 
9,196

Certificates of deposit
498

 
—

 
—

 
498

Total marketable securities
$
127,432

 
$
2

 
$
(129
)
 
$
127,305


All marketable securities are classified as current regardless of contractual maturity dates because we consider such investments to represent cash available for current operations.
As of December 31, 2015 and 2014, we did not consider any of our marketable securities to be other-than-temporarily impaired.  When evaluating our investments for other-than-temporary impairment, we review factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer, our ability and intent to hold the security, and whether it is more likely than not that we will be required to sell the investment before recovery of its cost basis.
The following is a summary of amortized cost and estimated fair value of marketable securities as of December 31, 2015 and 2014, by maturity:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(in thousands)
December 31, 2015
 
 
 
 
 
 
 
Due in one year or less
$
164,147

 
$
2

 
$
(221
)
 
$
163,928

Due after one year
32,670

 
2

 
(126
)
 
32,546

Total marketable securities
$
196,817

 
$
4

 
$
(347
)
 
$
196,474

December 31, 2014
 
 
 
 
 
 
 
Due in one year or less
$
127,029

 
$
2

 
$
(129
)
 
$
126,902

Due after one year
403

 
—

 
—

 
403

Total marketable securities
$
127,432

 
$
2

 
$
(129
)
 
$
127,305