Short-Term Investments

12 Months Ended

Dec. 31, 2013

Short-Term Investments

4. SHORT-TERM INVESTMENTS

Short-term investments of $65.0 million at December 31, 2013 and 2012 are comprised of U.S. Treasury Bills that mature through June 12, 2014. The interest rate on the U.S. Treasury Bills is less than one percent. The investments are classified as held-to-maturity and recorded at cost. The fair value of the U.S. Treasury Bills at December 31, 2013 and 2012 approximated cost.