3. Cash Equivalents and Restricted Cash and Securities

The following is a summary of cash equivalents and restricted cash and securities (in thousands):


			Unrealized		Estimated
			Holding		Market
March 31, 2013	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	716	$	--	$	716
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		303		--		303

December 31, 2012
Cash equivalents:
Money market funds	$	1,319	$	--	$	1,319
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		323		--		323

As of March 31, 2013 and December 31, 2012 $303,000 and $323,000, respectively, of the Company’s money market funds were designated as short-term restricted securities due to a contractual commitment to hold the securities as pledged collateral relating to international tax obligations. As of March 31, 2013 and December 31, 2012 $5.0 million of the Company’s cash was designated as long-term restricted cash and securities due to a financial covenant requirement under the Company’s credit agreement with General Electric Capital Corporation (“GE Capital”) as discussed in Note 11. This restriction lapses upon expiration of the credit agreement with GE Capital on October 28, 2014.

There were no gross realized gains or losses on cash equivalents in the three months ended March 31, 2013 and 2012. As of March 31, 2013 $303,000 of restricted securities had a maturity date of between three months and one year. As of December 31, 2012 $323,000 of restricted securities had a maturity date within three months. As of March 31, 2013 and December 31, 2012 $5.0 million of the Company’s restricted cash had no maturity date.