Short-Term Investments

3 Months Ended

Mar. 31, 2013

Short-Term Investments

Short-Term Investments

Note 2.  Short-Term Investments

Short-term investments consist of fixed income securities with remaining maturities of greater than three months at the date of purchase.  At March 31, 2013, all of our short-term investments are classified as available for sale investments and measured as Level 1 instruments of the fair value measurements standard.

The following summarizes the Company’s available for sale investments at March 31, 2013:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	24,045	$	3	$	5	$	24,043
Corporate Bonds	37,546		28		10		37,564
Total	$	61,591	$	31	$	15	$	61,607
Maturities of investments were as follows:
Less than one year	$	40,225	$	15	$	5	$	40,235
Greater than one year	21,366		16		10		21,372
Total	$	61,591	$	31	$	15	$	61,607

The following summarizes the Company’s available for sale investments at December 31, 2012:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses		Fair value
Debt securities:
U.S. Treasury	$	29,000	$	8	$	—	$	29,008
Corporate Bonds	42,334		10		14		42,330
Total	$	71,334	$	18	$	14	$	71,338
Maturities of investments were as follows:
Less than one year	$	34,553	$	10	$	3	$	34,560
Greater than one year	36,781		8		11		36,778
Total	$	71,334	$	18	$	14	$	71,338