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
June 30, 2016	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	715	$	--	$	715
Restricted cash and securities:
Money market funds		753		--		753

			Unrealized		Estimated
			Holding		Market
December 31, 2015	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	549	$	--	$	549
Restricted cash and securities:
Cash		5,000		--		5,000
Money market funds		830		--		830

As of June 30, 2016 and December 31, 2015 $753,000 and $830,000, 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 primarily to international tax obligations. As of December 31, 2015 $5.0 million of the Company’s cash was designated as long-term restricted cash due to a financial covenant requirement under the Company’s debt agreement. As of June 30, 2016 the Company no longer had a financial covenant requirement for restricted cash under the Company’s amended debt agreement. See further discussion of the Company’s debt agreements in Note 11.

There were no gross realized gains or losses on cash equivalents in the three and six months ended June 30, 2016 and 2015. As of June 30, 2016 $753,000 of the Company’s restricted securities had a maturity date between three months and one year. As of December 31, 2015 $595,000 of the Company’s restricted securities had a maturity date within three months and $235,000 had a maturity date between three months and one year. As of December 31, 2015 $5.0 million of the Company’s long-term restricted cash had no maturity date.