Annual report pursuant to Section 13 and 15(d)

Investments in Marketable Securities (Tables)

v3.6.0.2
Investments in Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security

Amortized cost and fair value of marketable securities, available-for-sale, by type of security consisted of the following (in thousands):

 


    December 31, 2016     December 31, 2015  
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Fair
Value
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Fair
Value
 

Short-term investments:

               

U.S. treasuries

  $ 24,987     $  —     $ (30   $ 24,957     $ 62,343     $  —     $ (71   $ 62,272  

U.S. government sponsored entities

    2,497                   2,497       17,571             (12     17,559  

Asset-backed securities and other

                            29                   29  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
  $ 27,484     $     $ (30   $ 27,454     $ 79,943     $     $ (83   $ 79,860  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Long-term investments:

               

U.S. treasuries

  $ 40,865     $  —     $ (229   $ 40,636     $ 15,283     $  —     $ (112   $ 15,171  

U.S. government sponsored entities

    12,618             (58     12,560       12,107             (85     12,022  

Corporate debt securities

    17,841       74       (165     17,750       17,219       5       (519     16,705  

Asset-backed securities and other

    6,557       18       (46     6,529       10,649             (152     10,497  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
  $ 77,881     $ 92     $ (498   $ 77,475     $ 55,258     $ 5     $ (868   $ 54,395

 

Amortized Cost and Fair Value of Investments in Available for Sale Securities

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):

 

     December 31, 2016      December 31, 2015  
     Unrealized
Loss
     Fair
Value
     Unrealized
Loss
     Fair
Value
 

Less than 12 months

   $ (491    $ 86,105      $ (951    $ 129,117  
  

 

 

    

 

 

    

 

 

    

 

 

 

12 months or longer

   $ (37    $ 721      $ —        $ —    
  

 

 

    

 

 

    

 

 

    

 

 

 

Gross Realized Gains and Losses from Sale of Available for Sale Securities

Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale securities consisted of the following (in thousands):

 

     December 31,  
     2016      2015  

Gross realized gain (1)

   $ 43      $ 135  
  

 

 

    

 

 

 

Gross realized loss (1)

   $ (166    $ (3
  

 

 

    

 

 

 

 

(1)  Recorded in other income (expense), net in the consolidated statements of net and comprehensive income. The cost basis of securities sold were determined on the specific identification method.
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity

Amortized cost and fair value of marketable securities, available-for-sale, by contractual maturity consisted of the following (in thousands):

 

     December 31, 2016      December 31, 2015  
     Amortized
Cost
     Fair
Value
     Amortized
Cost
     Fair
Value
 

Due in one year or less

   $ 27,484      $ 27,454      $ 79,943      $ 79,860  

Due after one year through five years

     57,309        57,144        28,634        28,465  

Due after five years through ten years

     14,992        14,841        18,020        17,466  

Due after ten years

     5,580        5,490        8,604        8,464  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 105,365      $ 104,929      $ 135,201      $ 134,255  
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average maturity

     3.5 years           3.3 years