Note 3 - Marketable Securities and Time Deposits

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 3: MARKETABLE SECURITIES AND TIME DEPOSITS

The following is a summary of marketable securities and time deposits at December 31, 2014 and 2013 (see also Note 8):

	Amortized cost				Unrealized gains (losses), net						Fair value
	2014		2013		2014			2013			2014		2013
Short term deposit	$	2,599	$	2,911	$	-		$	-		$	2,599	$	2,911
U.S. GSE securities		21,085		3,093		(34	)		(11	)		21,051		3,082
Corporate obligations		80,389		98,444		(262	)		(380	)		80,127		98,064
	$	104,072	$	104,448	$	(296	)	$	(391	)	$	103,777	$	104,057

The amortized cost of marketable debt securities at December 31, 2014, by contractual maturities or anticipated dates of sale, are shown below:

	Amortized		Unrealized gains (losses)					Fair
	cost		Gains		Losses			value
Due in one year or less	$	8,910	$	4	$	(5	)	$	8,909
Due after one year to five years		92,564		110		(405	)		92,269
	$	101,474	$	114	$	(410	)	$	101,178

The amortized cost of marketable debt securities at December 31, 2013, by contractual maturities or anticipated dates of sale, are shown below:

	Amortized		Unrealized gains (losses)					Fair
	cost		Gains		Losses			value
Due in one year or less	$	10,961	$	23	$	-		$	10,984
Due after one year to six years		90,576		162		(576	)		90,162
	$	101,537	$	185	$	(576	)	$	101,146

The actual maturity dates may differ from the contractual maturities because debtors may have the right to call or prepay obligations without penalties.

The total fair value of marketable securities with outstanding unrealized losses as of December 31, 2014 amounted to $68,945, while the unrealized losses for these marketable securities amounted to $410. Of the $410 unrealized losses outstanding as of December 31, 2014, a portion of which in the amount of $113 was related to marketable securities that were in a loss position for more than 12 months and the remaining portion of $297 was related to marketable securities that were in a loss position for less than 12 months.

The total fair value of marketable securities with outstanding unrealized losses as of December 31, 2013 amounted to $46,943, while the unrealized losses for these marketable securities amounted to $576. Of the $576 unrealized losses outstanding as of December 31, 2013, a portion of which in the amount of $145 was related to marketable securities that were in a loss position for more than 12 months and the remaining portion of $431 was related to marketable securities that were in a loss position for less than 12 months.

Management believes that as of December 31, 2014, the unrealized losses in the Company's investments in all types of marketable securities were temporary and no impairment loss was realized in the Company's consolidated statements of operations.

The unrealized losses related to the Company’s marketable securities were primarily due to changes in interest rates. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2014.

Proceeds from maturity of available-for-sale marketable securities during 2014, 2013 and 2012 were $23,250, $18,325 and $25,911, respectively. Proceeds from sales of available-for-sale marketable securities during 2014, 2013 and 2012 were $46,491, $42,949 and $39,063, respectively. Realized gains from the sale of available-for sale marketable securities for 2014, 2013 and 2012 were $73, $1,013 and $708, respectively. Realized losses from the sale of available-for sale marketable securities for 2014, 2013 and 2012 were $12, $4 and $38, respectively. The Company determines realized gains or losses on the sale of available-for-sale marketable securities based on a specific identification method.