4. Investments

9 Months Ended

Sep. 30, 2015

Investments Schedule [Abstract]

Investments

As of September 30, 2015, we held certain investments that are required to be measured for disclosure purposes at fair value on a recurring basis. These investments are considered Level 2 investments and are all considered to be held-to-maturity securities. We consider as current assets those investments which will mature in the next 12 months. The remaining investments are considered non-current assets. The amortized cost and fair value of our investments, and the related gross unrealized gains and losses, were as follows as of September 30, 2015 (in thousands):

			Gross Unrealized
	Cost		Gains		Losses			Fair Value
Short-term Investments:
Corporate bonds	$	114	$	--	$	--		$	114
Long-term Investments
Corporate bonds	$	7,966	$		$	(2,186	)	$	5,780

The above long-term corporate bonds represent investments in two issuers. One of these securities has experienced a decline in value since its acquisition date in the fourth quarter of 2014. This decline relates to a changed outlook due to major economic declines in its industry. The total carrying value of this investment is reviewed quarterly for changes in circumstances or the occurrence of events that suggest our investment may not be recoverable. We currently expect full recovery of our amortized cost in this security based on our assessment of the credit quality of the underlying collateral and credit support available to the issuer. Based on our evaluation of the creditworthiness of the issuer and because we do not intend to sell the investment, nor is it likely that we would be required to sell this investment, before recovery of its amortized cost base, which may be maturity, none of the unrealized loss is considered to be other than temporary.

At September 30, 2015, the length of time until maturity of these securities ranged from 39 to 50 months. None of the above investments has been in a loss position for more than twelve months.

The cost and fair value of our investments that are being accounted for as available-for-sale securities, and the related gross unrealized gain reflected in accumulated other comprehensive income, were as follows as of the dates shown below (in thousands):

			Gross Unrealized
	Cost		Gains		Losses		Fair value
As of September 30, 2015:
Long-term Investments:
Equity investments	$	3,876	$	303	$	--	$	4,179