Marketable Securities

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

The Company has classified its marketable securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive income/loss in stockholders' equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned.

The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2015 and December 31, 2014 were as follows:

			Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses			Estimated fair value
March 31, 2015
	Available-for-sale securities:
		Corporate bonds and notes	$	19,220	$	162	$	(48	)	$	19,334
		Municipal bonds	6,079		36		(2		)	6,113
	Total available-for-sale securities		$	25,299	$	198	$	(50	)	$	25,447

			Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses			Estimated fair value
December 31, 2014
	Available-for-sale securities:
		Corporate bonds and notes	$	19,804	$	89	$	(55	)	$	19,838
		Municipal bonds	6,292		28		(2		)	6,318
	Total available-for-sale securities		$	26,096	$	117	$	(57	)	$	26,156

Maturities of marketable securities classified as available-for-sale securities were as follows at March 31, 2015:

		Amortized cost		Estimated fair value
March 31, 2015
	Due within one year	$	7,327	$	7,314
	Due after one year through five years	17,611		17,771
	Due after five years through ten years	361		362
	Total available-for-sale securities	$	25,299	$	25,447

Debt securities in an unrealized loss position as of March 31, 2015 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. Management believes that it is more likely than not that the securities will receive a full recovery of par value. The available-for-sale marketable securities in a gross unrealized loss position as of March 31, 2015 are summarized as follows:

	Less than 12 months					More than 12 months					Total
(In thousands)	Estimated fair value		Gross unrealized holding losses			Estimated fair value		Gross unrealized holding losses			Estimated fair value		Gross unrealized holding losses
As of March 31, 2015
Corporate bonds and notes	$	1,127	$	(26	)	$	2,533	$	(22	)	$	3,660	$	(48	)
Municipal bonds	—		—			433		(2		)	433		(2		)
	$	1,127	$	(26	)	$	2,966	$	(24	)	$	4,093	$	(50	)