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Short-term Investments
 9 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Short-term Investments
Short-term Investments

Short-term investments consisted of available-for-sale securities as follows (in thousands):
Type of securities as of September 30, 2016
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair value
Corporate debt securities
$
29,811

 
$
1

 
$
(17
)
 
$
29,795

U.S. government-related debt securities
13,315

 
7

 
(1
)
 
13,321

Total available-for-sale securities
$
43,126

 
$
8

 
$
(18
)
 
$
43,116

Type of securities as of December 31, 2015
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair value
Corporate debt securities
$
26,116

 
$
—

 
$
(28
)
 
$
26,088

U.S. government-related debt securities
1,101

 
—

 
(1
)
 
1,100

Total available-for-sale securities
$
27,217

 
$
—

 
$
(29
)
 
$
27,188



The fair values of available-for-sale securities by contractual maturity were as follows (in thousands):
 
September 30, 2016
 
December 31, 2015
Maturing in one year or less
$
33,799

 
$
27,188

Maturing in one to three years
9,317

 
—

Total available-for-sale securities
$
43,116

 
$
27,188



The Company has both the intent and ability to sell its available-for-sale investments maturing greater than one year within 12 months from the balance sheet date and, accordingly, has classified these securities as current in the condensed consolidated balance sheet. The Company has no investments that have been in a continuous unrealized loss position as of September 30, 2016.    
    
The Company invests in securities that are rated investment grade or better. The unrealized losses on investments as of September 30, 2016 and December 31, 2015 were primarily caused by interest rate increases.

The Company reviews the individual securities in its portfolio to determine whether a decline in a security’s fair value below the amortized cost basis is other-than-temporary. The Company determined that as of September 30, 2016, there were no investments in its portfolio that were other-than-temporarily impaired.