Cash, Cash Equivalents And Investments In Marketable Securities

9 Months Ended

Sep. 30, 2011

Cash, Cash Equivalents And Investments In Marketable Securities [Abstract]

Cash, Cash Equivalents And Investments In Marketable Securities

(2) Cash, Cash Equivalents and Investments in Marketable Securities, in thousands

Cash equivalents are short-term, highly liquid investments with original maturity dates of three months or less at the date of acquisition. Cash equivalents are carried at cost plus accrued interest, which approximates fair value. The Company's investments in marketable securities, corporate and government bonds, are classified as available-for-sale and are recorded at fair value with any unrealized gain or loss recorded as an element of stockholders' equity. Purchased interest is included in interest receivable and reported as other current assets in our condensed consolidated balance sheet. The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included in interest and other income, net of expense. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are included in interest and other income, net of expense. The fair value of investments in marketable securities is determined based on quoted market prices at the reporting date for those instruments.

As of September 30, 2011, cash and cash equivalents included bank deposits and money market instruments. As of September 30, 2011 and December 31, 2010 cash equivalents were $178 and $169, respectively.

As of September 30, 2011 and December 31, 2010, aggregate investments in marketable securities consisted of:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
September 30, 2011:
Government bonds	$	822	$	53	$	—		$	875
Corporate bonds		5,342		273		(12	)		5,603
Total	$	6,164	$	326	$	(12	)	$	6,478
December 31, 2010:
Government bonds	$	1,177	$	26	$	(2	)	$	1,201
Corporate bonds		6,731		169		(4	)		6,896
Total	$	7,908	$	195	$	(6	)	$	8,097

During the three months ended September 30, 2011, the Company recorded interest and other income (loss), net of $(62). Of this amount, $(60) related to the reversal of transaction gains from the sale of investments that were incorrectly recorded during the three months ended June 30, 2011. Because the amount involved was not material to the Company's financial statements in the prior or current quarterly period, the Company recorded the adjustment to correct the error during the three months ended September 30, 2011.