CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS |
|
| Schedule of cash, cash equivalents and short-term investments |
Cash, cash equivalents and short-term investments consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
|
Checking account
|
|
$
|
2,118
|
|
$
|
175
|
|
|
Money market funds
|
|
|
26,291
|
|
|
10,027
|
|
|
U. S. treasury bills
|
|
|
9,048
|
|
|
2,010
|
|
|
Government-sponsored enterprise securities
|
|
|
48,613
|
|
|
45,786
|
|
|
Corporate bonds and commercial paper
|
|
|
40,206
|
|
|
85,161
|
|
|
|
|
$
|
126,276
|
|
$
|
143,159
|
|
|
Reported as:
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
43,456
|
|
$
|
15,203
|
|
|
Short-term investments
|
|
|
82,820
|
|
|
127,956
|
|
|
|
|
$
|
126,276
|
|
$
|
143,159
|
|
|
| Schedule of cash equivalents and short-term investments including the securities with unrealized gains and losses |
Cash equivalents and short-term investments included the following securities with gross unrealized gains and losses (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
|
Gross
|
|
|
|
|
|
|
|
Amortized
|
|
Unrealized
|
|
Unrealized
|
|
|
|
|
|
December 31, 2015
|
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
|
U. S. treasury bills
|
|
$
|
9,061
|
|
$
|
—
|
|
$
|
(13)
|
|
$
|
9,048
|
|
|
Government-sponsored enterprise securities
|
|
|
48,643
|
|
|
1
|
|
|
(31)
|
|
|
48,613
|
|
|
Corporate bonds and commercial paper
|
|
|
40,207
|
|
|
11
|
|
|
(12)
|
|
|
40,206
|
|
|
Total
|
|
$
|
97,911
|
|
$
|
12
|
|
$
|
(56)
|
|
$
|
97,867
|
|
|
| Schedule of contractual maturities of cash equivalents and short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
|
Gross
|
|
|
|
|
|
|
|
Amortized
|
|
Unrealized
|
|
Unrealized
|
|
|
|
|
|
December 31, 2014
|
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
|
U. S. treasury bills
|
|
$
|
2,010
|
|
$
|
—
|
|
$
|
—
|
|
$
|
2,010
|
|
|
Government-sponsored enterprise securities
|
|
|
45,793
|
|
|
4
|
|
|
(11)
|
|
|
45,786
|
|
|
Corporate bonds and commercial paper
|
|
|
85,161
|
|
|
21
|
|
|
(21)
|
|
|
85,161
|
|
|
Total
|
|
$
|
132,964
|
|
$
|
25
|
|
$
|
(32)
|
|
$
|
132,957
|
|
As of December 31, 2015, the contractual maturities of our cash equivalents and short-term investments were (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Years to Maturity
|
|
|
|
|
|
|
|
After One Year
|
|
|
|
|
Within
|
|
Through
|
|
|
|
|
One Year
|
|
Two Years
|
|
|
U. S. treasury bills
|
|
$
|
4,753
|
|
$
|
4,295
|
|
|
Government-sponsored enterprise securities
|
|
|
48,613
|
|
|
—
|
|
|
Corporate bonds and commercial paper
|
|
|
40,206
|
|
|
—
|
|
|
|
|
$
|
93,572
|
|
$
|
4,295
|
|
|
| Schedule of fair value and gross unrealized losses of the entity's investments in unrealized loss position |
The following table shows the fair value and gross unrealized losses of our investments in individual securities that are in an unrealized loss position, aggregated by investment category (in thousands):
|
|
|
|
|
|
|
|
|
|
December 31, 2015
|
|
Fair Value
|
|
Unrealized Losses
|
|
|
U. S. treasury bills
|
|
$
|
8,294
|
|
$
|
(13)
|
|
|
Government-sponsored enterprise securities
|
|
|
41,266
|
|
|
(31)
|
|
|
Corporate bonds and commercial paper
|
|
|
17,826
|
|
|
(12)
|
|
|
Total
|
|
$
|
67,386
|
|
$
|
(56)
|
|
|