NOTE 5. INVESTMENTS

The following tables summarize the Company’s available-for-sale investments at June 30, 2016 and December 31, 2015:



AVAILABLE-FOR-SALE INVESTMENTS
June 30, 2016
(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Certificates of deposit	$	6,028	$	—	$	—		$	6,028
US Treasury securities	15,780		42		—			15,822
US Agency securities	4,009		1		—			4,010
Commercial paper	499		—		—			499
Asset-backed securities	7,084		11		—			7,095
Corporate notes and bonds	31,449		27		(11		)	31,465
Total	$	64,849	$	81	$	(11	)	$	64,919



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 June 30, 2016 and December 31, 2015:



AVAILABLE-FOR-SALE INVESTMENT MATURITIES
(in thousands)
	June 30, 2016				December 31, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than 1 year	$	27,517	$	27,535	$	11,851	$	11,839
Due in 1-5 years	37,332		37,384		—		—
Due in 6-10 years	—		—		—		—
Total	$	64,849	$	64,919	$	11,851	$	11,839

Proceeds from sales of marketable securities (including principal paydowns), for the three months ended June 30, 2016 and 2015 were $500,000 and $34,000, respectively, and for the for the six months ended June 30, 2016 and 2015 were $1,000,000 and $141,000, respectively. The Company determines gains and losses of marketable securities based on specific identification of the securities sold. There were no gross realized gains or losses from sales of marketable securities for the three months ended and six months ended June 30, 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 June 30, 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.

Additional information regarding the fair value of our financial instruments is included in Note 3, Fair Value of Financial Instruments.