Investment in Available-for-Sale Securities

12 Months Ended

Dec. 31, 2014

Available-For-Sale Securities [Abstract]

Available For Sale Securities Disclosure [Text Block]

4. Investment in Available-for-Sale Securities

The following is a summary of the Company’s investments in available-for-sale securities as of December 31, 2014:

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	49,739	$	68	$	(117)	$	49,690
Municipal securities		441,372		463		(966)		440,869
Certificates of deposit		1,395,990		22,904		(14,861)		1,404,033
Corporate debt securities		37,911		298		-		38,209
	$	1,925,012	$	23,733	$	(15,944)	$	1,932,801

The following is a summary of the Company’s investments in available-for-sale securities as of December 31, 2013:

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	90,549	$	93	$	(277)	$	90,365
Municipal securities		735,826		2,175		(6)		737,995
Certificates of deposit		1,539,377		12,281		(19,398)		1,532,260
Corporate debt securities		174,738		275		(9,091)		165,922
	$	2,540,490	$	14,824	$	(28,772)	$	2,526,542

The Company’s investment portfolio had a net realized loss of $12,381 and a net realized gain of $8,507 for the years ended December 31, 2014 and 2013, respectively. The Company’s investment portfolio has thirty-five positions with an unrealized loss as of December 31, 2014.

The cost and fair value of investments in fixed income available-for-sale debt securities, by contractual maturity, as of December 31, 2014, are as follows:

	Cost		Fair Value
Due within one year	$	712,919	$	714,084
Due after one year through three years		892,901		899,126
Due after three years		319,192		319,591
	$	1,925,012	$	1,932,801

Expected maturities will differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without any penalties. The Company has classified the entire fair value of its investment in available-for-sale debt securities as current assets in the accompanying balance sheets

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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