Marketable Securities

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

Our marketable securities as of September 30, 2015 include fixed income and equity investments classified as available for sale. At September 30, 2015, the fair value of the equity securities totaled $0 and the fair value of the fixed income securities totaled $3.5 million. At December 31, 2014, the fair value of the equity securities totaled $0 and the fair value of the fixed income securities totaled approximately $1.0 million. The marketable securities net purchases, during the nine months ended September 30, 2015, totaled $2.6 million. The proceeds from the sales of our marketable securities total $6.7 million for the nine months ended September 30, 2014. Unrealized (losses)/gains on the investments included in consolidated statements of other comprehensive income were $(7,000) and $(219,000) for the three months ended September 30, 2015 and 2014, respectively. Unrealized (losses)/gains on the investments included in consolidated statements of other comprehensive income were $(1,000) and $434,000 for the nine months ended September 30, 2015 and 2014, respectively. Our realized (losses)/gains from the sale of our marketable securities totaled $(2,000) and $108,000 for the three months ended September 30, 2015 and 2014, respectively. Our realized (losses)/gains from the sale of our marketable securities totaled $(9,000) and $(444,000) for the nine months ended September 30, 2015 and 2014, respectively. The unrealized loss has been in that position for less than one year. Accordingly, management does not believe that the investments have experienced any other than temporary losses.

As of September 30, 2015 our marketable securities investments had an effective maturity of 1.24 years and an average effective duration of 0.22 years. The majority of our marketable securities are invested in investment-grade corporate bonds.