Cash, Cash Equivalents and Investments

A summary of our cash, cash equivalents and available-for-sale investments at May 31, 2015 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	144,175	$	—	$	—		$	144,175
Money market funds	21,845		—		—			21,845
State and municipal bond obligations	33,050		63		(12		)	33,101
Total	$	199,070	$	63	$	(12	)	$	199,121

A summary of our cash, cash equivalents and available-for-sale investments at November 30, 2014 is as follows (in thousands):



	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Cash	$	195,189	$	—	$	—	$	195,189
Money market funds	67,893		—		—		67,893
State and municipal bond obligations	20,100		86		—		20,186
Total	$	283,182	$	86	$	—	$	283,268

Such amounts are classified on our condensed consolidated balance sheets as follows (in thousands):



	May 31, 2015				November 30, 2014
	Cash and Equivalents		Short-Term Investments		Cash and Equivalents		Short-Term Investments
Cash	$	144,175	$	—	$	195,189	$	—
Money market funds	21,845		—		67,893		—
State and municipal bond obligations	—		33,101		—		20,186
Total	$	166,020	$	33,101	$	263,082	$	20,186

The fair value of debt securities by contractual maturity is as follows (in thousands):


(1)	Includes state and municipal bond obligations, which are securities representing investments available for current operations and are classified as current in the consolidated balance sheets.

We did not hold any investments with continuous unrealized losses as of May 31, 2015 or November 30, 2014.