MARKETABLE SECURITIES:

Our investments in marketable securities are classified as available-for-sale and consist of the following:



	June 30, 2016
(In thousands)	Cost		Unrealized Gains		Unrealized Losses		Fair Value
Short-Term
U.S. government and agency obligations	$	3,744	$	5	$	—	$	3,749
Corporate debt securities and certificates of deposit	1,440		1		—		1,441
Marketable securities – short-term	$	5,184	$	6	$	—	$	5,190
Long-Term
U.S. government and agency obligations	$	6,432	$	40	$	—	$	6,472
Corporate debt securities and certificates of deposit	250		1		—		251
Asset backed securities	452		—		—		452
Equity security	42		10		—		52
Marketable securities – long-term	$	7,176	$	51	$	—	$	7,227



	December 31, 2015
(In thousands)	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Short-Term
U.S. government and agency obligations	$	3,806	$	—	$	(2	)	$	3,804
Corporate debt securities and certificates of deposit	1,440		—		(1		)	1,439
Asset backed securities	6		—		—			6
Marketable securities – short-term	$	5,252	$	—	$	(3	)	$	5,249
Long-Term
U.S. government and agency obligations	$	6,681	$	1	$	(18	)	$	6,664
Corporate debt securities and certificates of deposit	675		—		(1		)	674
Asset backed securities	694		—		(1		)	693
Equity security	42		11		—			53
Marketable securities – long-term	$	8,092	$	12	$	(20	)	$	8,084

Our investments in marketable debt securities all have maturities of less than five years. At June 30, 2016, marketable debt securities valued at $11.5 million were in an unrealized gain position totaling $47,000 and marketable debt securities valued at $827,000 were in an unrealized loss position that was inconsequential (all had been in an unrealized loss position for less than 12 months). At December 31, 2015, marketable debt securities valued at $2.3 million were in an unrealized gain position totaling $1,000 and marketable debt securities valued at $11.0 million were in an unrealized loss position totaling $23,000 (all had been in an unrealized loss position for less than 12 months).

Net pre-tax unrealized gains for marketable securities of $57,000 at June 30, 2016 and net pre-tax unrealized losses for marketable securities of $11,000 at December 31, 2015 were recorded as a component of accumulated other comprehensive loss in stockholders’ equity. We received proceeds from the sale of marketable securities in the three and six month periods ended June 30, 2016 of $625,000 and $1.4 million, respectively. We received proceeds from the sale of marketable securities in the three and six month periods ended June 30, 2015 of $300,000 and $716,000, respectively. No gain or loss was recognized on any of the aforementioned sales.

Investments in marketable securities classified as cash equivalents of $5.0 million at June 30, 2016 and $791,000 at December 31, 2015 consist of the following:



	June 30, 2016
(In thousands)	Cost		Unrealized Gains		Unrealized Losses		Recorded Basis
Money market and certificates of deposit	$	4,993	$	—	$	—	$	4,993
	$	4,993	$	—	$	—	$	4,993



	December 31, 2015
(In thousands)	Cost		Unrealized Gains		Unrealized Losses		Recorded Basis
Money market and certificates of deposit	$	791	$	—	$	—	$	791
	$	791	$	—	$	—	$	791

Cash and marketable securities held by foreign subsidiaries totaled $357,000 at June 30, 2016 and $701,000 at December 31, 2015.