Investment Securities

3 Months Ended

Mar. 31, 2014

Investment Securities [Abstract]

Investment Securities

Investment Securities

As of March 31, 2014, the Company had investments in redeemable preferred stock, with a fair value of $1.2 million. These investments are considered available-for-sale securities and therefore increases or decreases in the fair value of these investments are recorded in accumulated other comprehensive income as a component of equity on the consolidated balance sheets unless the securities are considered to be other than temporarily impaired at which time the losses would be reclassified to expense.

The following table details the unrealized losses on investment securities as of March 31, 2014 and December 31, 2013:

(In thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2014	$	1,288	$	—	$	(116	)	$	1,172
December 31, 2013	$	1,288	$	—	$	(240	)	$	1,048

Unrealized losses as of March 31, 2014 were considered temporary and therefore no impairment was recorded during the three months ended March 31, 2014.

The Company's preferred stock investments are redeemable at the respective issuer's option after five years from issuance.