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Short-Term and Long-Term Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Securities

The following is a summary of available-for-sale securities (in thousands):


September 30, 2014	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,036	$	4,964
Brokered certificates of deposit		710		1		—		711

	$	6,710	$	1	$	1,036	$	5,675


December 31, 2013	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Failed Auction Securities	$	6,000	$	—	$	1,175	$	4,825
Brokered certificates of deposit		820		6		—		826

	$	6,820	$	6	$	1,175	$	5,651

Amortized Cost and Estimated Fair Value of Available-for-Sale Securities by Contractual Maturities

The amortized cost and estimated fair value of available-for-sale securities on September 30, 2014, by contractual maturities, are shown below (in thousands):


	Cost		Estimated Fair Value
Due in one year or less	$	540	$	541
Due in two to ten years		170		170
Due in ten to twenty years		—		—
Due in twenty to forty years		6,000		4,964

	$	6,710	$	5,675

Rollforward of Credit (Gain) Loss Recognized in Earnings on Available-for-Sale Auction Rate Securities

The following table represents a rollforward of the activity related to the credit (gain) loss recognized in earnings on available-for-sale auction rate securities held by the Company for the nine months ended September 30 (in thousands):


	2014			2013

Balance at the beginning of the period	$	395		$	317
Changes in the amount related to credit (gain) loss for which other-than- temporary impairment was not previously recognized		(39	)		85
Reduction for security sold during the period		—			(7	)

Balance at the end of the period	$	356		$	395

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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