Investments in Marketable Securities
|12 Months Ended|
Dec. 31, 2015
|Investments, Debt and Equity Securities [Abstract]|
|Investments in Marketable Securities||
Amortized cost and fair value of marketable securities, available-for-sale, by type of security consisted of the following (in thousands):
The amortized cost and fair value of the Company’s investments in available-for-sale securities that have been in a continuous unrealized loss position consisted of the following (in thousands):
Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale securities consisted of the following (in thousands):
The Company may sell certain of its marketable securities, available-for-sale prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management.
As of December 31, 2015, the Company considers the declines in market value of its marketable securities, available-for-sale to be temporary in nature and does not consider any of its investments other-than-temporarily impaired. The Company typically invests in highly-rated securities, and its investment policy generally limits the amount of credit exposure to any one issuer. The policy generally requires investments to be investment grade, with the primary objective of minimizing the potential risk of principal loss and matching long-term liabilities. When evaluating an investment for other-than-temporary impairment the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, changes in market interest rates and the Company’s intent to sell, or whether it is more likely than not it will be required to sell the investment before recovery of the investment’s cost basis.
Amortized cost and fair value of marketable securities, available-for-sale, by contractual maturity consisted of the following (in thousands):
Actual maturities may differ from contractual maturities because certain borrowers have the right to prepay certain obligations with or without prepayment penalties.
The entire disclosure for investments in certain debt and equity securities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef