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Marketable Securities
 12 Months Ended
Dec. 31, 2013
Marketable Securities [Abstract]  
Marketable Securities

NOTE 2 – MARKETABLE SECURITIES 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

(In thousands)

 

 

Cost

 

Unrealized Gains

 

Unrealized Losses

 

Fair Value

Short-Term

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$
6,299 

$
10 

$

—

$
6,309 

Corporate debt securities and certificates of deposit

 

 
3,091 

 
2 

 

—

 
3,093 

Marketable securities – short-term

 

$
9,390 

$
12 

$

—

$
9,402 

Long-Term

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$
4,783 

$
7 

$

—

$
4,790 

Corporate debt securities and certificates of deposit

 

 
3,417 

 
1 

 
(5)

 
3,413 

Asset backed securities

 

 
2,474 

 
2 

 
(1)

 
2,475 

Equity security

 

 
42 

 
22 

 

—

 
64 

Marketable securities – long-term

 

$
10,716 

$
32 

$
(6)

$
10,742 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

 

Cost

 

Unrealized Gains

 

Unrealized Losses

 

Fair Value

Short-Term

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$
7,358 

$
10 

$
(35)

$
7,333 

Corporate debt securities and certificates of deposit

 

 
4,100 

 
5 

 

—

 
4,105 

Marketable securities – short-term

 

$
11,458 

$
15 

$
(35)

$
11,438 

Long-Term

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$
9,033 

$
23 

$
(23)

$
9,033 

Corporate debt securities and certificates of deposit

 

 
1,192 

 
4 

 
(1)

 
1,195 

Asset back securities

 

 
165 

 

—

 

—

 
165 

Equity security

 

 
42 

 

—

 

—

 
42 

Marketable securities – long-term

 

$
10,432 

$
27 

$
(24)

$
10,435 

 

Our investments in marketable debt securities all have maturities of less than five years. At December 31, 2013, marketable debt securities valued at  $15,587,000 were in an unrealized gain position totaling $22,000 and marketable debt securities valued at  $4,493,000 were in an unrealized loss position totaling $6,000 (all had been in an unrealized loss position for less than twelve months).  At December 31, 2012, marketable debt securities valued at $19,012,000 were in an unrealized gain position totaling $42,000 and marketable debt securities valued at $2,819,000 were in an unrealized loss position totaling $59,000 (all had been in an unrealized loss position for less than twelve months).

At December 31, 2013, our equity security valued at $64,000 was in a $22,000 unrealized gain position.  In 2012, we recognized a $42,000 impairment charge for our equity security resulting from a decline in market value which we determined to be other than temporary. 

Net pre-tax unrealized gains for marketable securities of $38,000 at December 31, 2013 and net pre-tax unrealized losses for marketable securities of $17,000 at December 31, 2012 were recorded as a component of accumulated other comprehensive loss in stockholders’ equity.  We received proceeds from the sale of marketable securities of $5,047,000 in 2013 and $3,154,000 in 2012.    Gains and losses from the sale of marketable securities totaled a  $21,000 loss in 2013 and an $8,000 gain in 2012. 

Investments in marketable securities classified as cash equivalents of $327,000 at December 31, 2013 and $2,824,000 at December 31, 2012 consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

(In thousands)

 

 

Cost

 

Unrealized Gains

 

Unrealized Losses

 

Recorded
Basis

Corporate debt securities and certificates of deposit

 

$
327 

$

—

$

—

$
327 

 

 

$
327 

$

—

$

—

$
327 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

 

Cost

 

Unrealized Gains

 

Unrealized Losses

 

Recorded
Basis

Corporate debt securities and certificates of deposit

 

$
2,824 

$

—

$

—

$
2,824 

 

 

$
2,824 

$

—

$

—

$
2,824