Investments

3 Months Ended

Mar. 31, 2016

Investments, All Other Investments [Abstract]

Investments

NOTE 5. INVESTMENTS

The following tables summarize the Company’s available-for-sale investments at March 31, 2016 and December 31, 2015 (in thousands):

AVAILABLE-FOR-SALE INVESTMENTS
March 31, 2016
(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Asset-backed securities	$	6,078	$	8	$	—		$	6,086
US government & agency securities	19,098		15		(1		)	19,112
Corporate notes, bonds and commercial paper	15,303		22		(3		)	15,322
Certificates of deposit	4,110		—		—			4,110
Total	$	44,589	$	45	$	(4	)	$	44,630

AVAILABLE-FOR-SALE INVESTMENTS
December 31, 2015
(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Asset-backed securities	$	2,510	$	—	$	(3	)	$	2,507
Corporate notes and bonds	9,341		1		(10		)	9,332
Total	$	11,851	$	1	$	(13	)	$	11,839

The following table summarizes the maturities of the Company’s available-for-sale securities at March 31, 2016 and December 31, 2015 (in thousands):

AVAILABLE-FOR-SALE INVESTMENT MATURITIES
(in thousands)
	March 31, 2016				December 31, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than 1 year	$	14,149	$	14,156	$	11,851	$	11,839
Due in 1-5 years	29,435		29,467		—		—
Due in 6-10 years	1,005		1,007		—		—
Total	$	44,589	$	44,630	$	11,851	$	11,839

Proceeds from sales of marketable securities (including principal paydowns) for the three months ended March 31, 2016 and 2015, were $500,000 and $107,000 respectively. The Company determines gains and losses of marketable securities based on specific identification of the securities sold. There were no gross realized gains and losses from sales of marketable securities for the three months ended March 31, 2016 and 2015.

No other-than-temporary impairments are recorded as no investments had a fair value that remained less than its cost for more than twelve months as of March 31, 2016 and there have been no other indicators of impairment. The Company does not intend to sell investments and it is more likely than not that we will not be required to sell investments before recovering the amortized cost.