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Short-term Investments
 12 Months Ended
Dec. 31, 2014
Short-term Investment [Abstract]  
Short-term Investments
Short-term Investments
The following table summarizes the Company’s investments in available-for-sale securities as of December 31, 2014 and 2013 (in thousands):
 
December 31, 2014
 
 
 
Unrealized
 
 
 
Amortized Cost
 
Gains
 
Losses
 
Estimated Fair Value
Municipal bonds
$
120,270

 
$
24

 
$
(12
)
 
$
120,282

Commercial paper
2,498

 
—

 
—

 
2,498

Corporate bonds
68,758

 
1

 
(87
)
 
68,672

U.S. government and agency securities
48,095

 
—

 
(33
)
 
48,062

 
$
239,621

 
$
25

 
$
(132
)
 
$
239,514


 
December 31, 2013
 
 
 
Unrealized
 
 
 
Amortized Cost
 
Gains
 
Losses
 
Estimated Fair Value
Municipal bonds
$
146,047

 
$
56

 
$
(3
)
 
$
146,100

Commercial paper
31,597

 
—

 
—

 
31,597

Corporate bonds
7,873

 
2

 
—

 
7,875

U.S. government and agency securities
5,002

 
—

 
(7
)
 
4,995

 
$
190,519

 
$
58

 
$
(10
)
 
$
190,567



Available-for-sale securities are reported at fair value, with unrealized gains and losses, net of tax, included as a separate component of stockholders’ equity within accumulated other comprehensive income (loss). Realized gains and losses on available-for-sale securities are included in other income, net in the Company’s consolidated statements of operations and have not been material for all periods presented.

The weighted-average remaining maturity of the Company’s investment portfolio was less than one year as of December 31, 2014 and 2013. As of December 31, 2014, no individual securities incurred continuous unrealized losses for greater than 12 months.