MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2016

Marketable Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

At June 30, 2016, current available-for-sale marketable securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	29,614	$	45	$	(15	)	$	29,644
Treasury discount notes	44,949		23		—			44,972
Total debt securities	74,563		68		(15		)	74,616
Equity security	4,385		207		—			4,592
Total marketable securities	$	78,948	$	275	$	(15	)	$	79,208

At December 31, 2015, current available-for-sale marketable securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	27,765	$	—	$	(187	)	$	27,578
Equity security	8,659		2,963		—			11,622
Total marketable securities	$	36,424	$	2,963	$	(187	)	$	39,200

The unrealized gains and losses in the tables above are included in "Accumulated other comprehensive loss" in the accompanying consolidated balance sheet. The gross unrealized losses on the marketable debt securities relate primarily to changes in interest rates. The Company does not consider the gross unrealized losses to be other-than-temporary because the Company does not intend to sell the marketable debt securities that generated the gross unrealized losses at June 30, 2016, and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be maturity. The aggregate fair value of available-for-sale marketable debt securities with unrealized losses is $17.3 million as of June 30, 2016. There is one investment in current available-for-sale marketable debt securities that has been in a continuous unrealized loss position for longer than twelve months as of June 30, 2016.

The contractual maturities of debt securities classified as current available-for-sale at June 30, 2016 are as follows:

	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	69,536	$	69,551
Due after one year through five years	5,027		5,065
Total	$	74,563	$	74,616

The following table presents the proceeds from maturities and sales of current and non-current available-for-sale marketable securities:

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(In thousands)
Proceeds from maturities and sales of available-for-sale marketable securities	$	44,216	$	8,563	$	54,216	$	14,613
Gross realized gains	3,125		5		3,125		5

There were no gross realized losses from the maturities and sales of available-for-sale marketable securities for the three and six months ended June 30, 2016 and 2015.

Gross realized gains from the maturities and sales of available-for-sale marketable securities and losses that were deemed to be other-than-temporary are included in "Other (expense) income, net" in the accompanying consolidated statement of operations.

The specific-identification method is used to determine the cost of securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings.