INVESTMENTS

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

Investments

The following tables summarize our short-term investments (in thousands):

		As of December 31, 2014
	Maturity (in years)	Amortized cost	Gross unrealized gains	Gross unrealized losses		Estimated fair value
Corporate debt securities (1)	1 year or less	21,208	3	(1	)	21,210
Commercial paper (1)	1 year or less	1,500	—	—		1,500
		22,708	3	(1	)	22,710

		As of December 31, 2013
	Maturity (in years)	Amortized cost	Gross unrealized gains	Gross unrealized losses		Estimated fair value
Government sponsored enterprise (1)	2 years or less	3,001	—	(3	)	2,998
Corporate debt securities (1)	2 years or less	31,319	—	(22	)	31,297
Commercial paper (1)	1 year or less	8,485	12	—		8,497
Guaranteed investment certificates (2)	1 year or less	5,046	—	(3	)	5,043
		47,851	12	(28	)	47,835

(1) Investments are designated as available-for-sale investments.

(2) Investments are designated as trading investments.

Unrealized gains and losses on available-for-sale securities are included as a component of comprehensive loss. At December 31, 2014, the Company did not have any securities in material unrealized loss positions. The Company reviews its investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Company does not intend to sell any investments prior to recovery of their amortized cost basis for any investments in an unrealized loss position.