Investments in Available-for-Sale Securities
 3 Months Ended
Mar. 31, 2015
Available-for-sale Securities [Abstract]  
Investments in Available-for-Sale Securities
Investments in Available-for-Sale Securities

The Company has invested in marketable debt securities, primarily highly liquid investment grade corporate bonds. These investments are held in the custody of a major financial institution. These securities, along with the Company's investments in marketable equity securities, are classified as available-for-sale securities and, accordingly, the unrealized gains and losses are recorded through other comprehensive income.

The Company's investments in available-for-sale marketable securities are as follows:
 
March 31, 2015
 
 
 
 
 
 
 
 
 
Balance Sheet
 
 
 
Accumulated
 
 
 
Classification
 
 
 
Gross Unrealized
 
Fair
 
Short-Term
 
Other
 
Cost Basis
 
Gains
 
Losses
 
Value
 
Investments
 
Assets
 
(In thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
Corporate notes and bonds
$
252,673

 
$
2

 
$
(3,157
)
 
$
249,518

 
$
249,518

 
$
—

Equity securities
3,910

 
2,875

 
(2,830
)
 
3,955

 
—

 
3,955

Total Investments
$
256,583

 
$
2,877

 
$
(5,987
)
 
$
253,473

 
$
249,518

 
$
3,955

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
Balance Sheet
 
 
 
Gross
 
Gross
 
 
 
Classification
 
 
 
Unrealized
 
Unrealized
 
Fair
 
Short-Term
 
Other
 
Cost Basis
 
Gains
 
Losses
 
Value
 
Investments
 
Assets
 
(In thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
Corporate notes and bonds
$
253,590

 
$
—

 
$
(4,636
)
 
$
248,954

 
$
248,954

 
$
—

Equity securities
3,910

 
4,125

 
(2,890
)
 
5,145

 
—

 
5,145

Total Investments
$
257,500

 
$
4,125

 
$
(7,526
)
 
$
254,099

 
$
248,954

 
$
5,145

 
 
 
 
 
 
 
 
 
 
 
 

The aggregate fair value of investments with unrealized losses that were owned for less than a year was $177.3 million and $163.0 million at March 31, 2015 and December 31, 2014, respectively. The aggregate fair value of investments with unrealized losses that were owned for over a year, and were also in a continuous unrealized loss position during that time, was $64.4 million and $86.1 million at March 31, 2015 and December 31, 2014, respectively. The unrealized losses in our portfolio are the result of normal market fluctuations. We do not currently intend to sell these investments before recovery of their amortized cost base.

The debt securities outstanding at March 31, 2015 have maturity dates ranging from the second quarter of 2015 through the third quarter of 2016. The Company classifies its investments as current based on the nature of the investments and their availability to provide cash for use in current operations.