|
Cash, Cash Equivalents and Available-For-Sale Securities (Tables)
|
9 Months Ended |
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Sep. 30, 2014
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| CASH, CASH EQUIVALENTS AND AVAILABLE-FOR-SALE SECURITIES |
|
| Schedule of cash, cash equivalents and available-for-sale securities |
Cash, cash equivalents and available-for-sale securities consisted of the following (in thousands):
|
|
|
September 30,
|
|
December 31,
|
|
|
|
|
2014
|
|
2013
|
|
|
Checking account
|
|
$
|
760
|
|
$
|
195
|
|
|
Money market funds
|
|
8,754
|
|
9,059
|
|
|
U. S. treasury bills
|
|
2,029
|
|
2,085
|
|
|
Government-sponsored enterprise securities
|
|
52,093
|
|
67,178
|
|
|
Corporate bonds and commercial paper
|
|
94,036
|
|
133,458
|
|
|
|
|
|
|
|
|
|
|
|
$
|
157,672
|
|
$
|
211,975
|
|
|
|
|
|
|
|
|
|
Reported as:
|
|
|
|
|
|
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Cash and cash equivalents
|
|
$
|
12,814
|
|
$
|
20,854
|
|
|
Available-for-sale securities
|
|
144,858
|
|
191,121
|
|
|
|
|
|
|
|
|
|
|
|
$
|
157,672
|
|
$
|
211,975
|
|
|
| Schedule of cash equivalents and available-for-sale securities including the securities with unrealized gains and losses |
Cash equivalents and available-for-sale securities include the following securities with unrealized gains and losses (in thousands):
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|
|
|
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Gross
|
|
Gross
|
|
|
|
|
|
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Amortized
|
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Unrealized
|
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Unrealized
|
|
|
|
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September 30, 2014
|
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
|
U. S. treasury bills
|
|
$
|
2,027
|
|
$
|
2
|
|
$
|
—
|
|
$
|
2,029
|
|
|
Government-sponsored enterprise securities
|
|
52,082
|
|
19
|
|
(8
|
)
|
52,093
|
|
|
Corporate bonds and commercial paper
|
|
94,033
|
|
21
|
|
(18
|
)
|
94,036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
148,142
|
|
$
|
42
|
|
$
|
(26
|
)
|
$
|
148,158
|
|
|
|
|
|
|
Gross
|
|
Gross
|
|
|
|
|
|
|
Amortized
|
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Unrealized
|
|
Unrealized
|
|
|
|
|
December 31, 2013
|
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
|
U. S. treasury bills
|
|
$
|
2,083
|
|
$
|
2
|
|
$
|
—
|
|
$
|
2,085
|
|
|
Government-sponsored enterprise securities
|
|
67,160
|
|
29
|
|
(11
|
)
|
67,178
|
|
|
Corporate bonds and commercial paper
|
|
133,431
|
|
33
|
|
(6
|
)
|
133,458
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
202,674
|
|
$
|
64
|
|
$
|
(17
|
)
|
$
|
202,721
|
|
|
| Schedule of contractual maturities of cash equivalents and available-for-sale securities |
As of September 30, 2014, the contractual maturities of our cash equivalents and available-for-sale securities were (in thousands):
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Years to Maturity
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|
|
|
|
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After One Year
|
|
|
|
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Within One
|
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Through
|
|
|
|
|
Year
|
|
Two Years
|
|
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U. S. treasury bills
|
|
$
|
2,029
|
|
$
|
—
|
|
|
Government-sponsored enterprise securities
|
|
32,523
|
|
19,570
|
|
|
Corporate bonds and commercial paper
|
|
88,514
|
|
5,522
|
|
|
Total
|
|
$
|
123,066
|
|
$
|
25,092
|
|
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| 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):
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|
|
|
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Unrealized
|
|
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September 30, 2014
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Fair Value
|
|
Losses
|
|
|
Government-sponsored enterprise securities
|
|
$
|
14,804
|
|
$
|
(8
|
)
|
|
Corporate bonds and commercial paper
|
|
27,289
|
|
(18
|
)
|
|
Total
|
|
$
|
42,093
|
|
$
|
(26
|
)
|
|