Marketable Securities

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

5. Marketable Securities

We report our investments as current assets in our Consolidated Balance Sheets in “Marketable securities,” representing the investment of cash available for current operations. See Note 7.

Our investments in marketable securities are classified as available for sale and are summarized as follows:

	September 30, 2016
	Amortized Cost		Unrealized Gain (Loss)			Market Value
	(In thousands)
Mortgage-backed securities	$	45	$	1		$	46
	December 31, 2015
	Amortized Cost		Unrealized Gain (Loss)			Market Value
	(In thousands)
Corporate bonds	$	16,480	$	(5,042	)	$	11,438
Mortgage-backed securities		77		3			80
Total	$	16,557	$	(5,039	)	$	11,518

In June 2016, we sold our investment in corporate bonds for proceeds of $4.6 million and recognized a loss of $12.9 million, including $0.8 million in accrued interest that we do not expect to collect.

Proceeds from maturities and sales of mortgage-backed securities and the related gains and losses during the three-month and nine-month periods ended September 30, 2016 and 2015 were not significant.