| Cash, Cash Equivalents and Marketable Securities |
4. | Cash, Cash Equivalents and Marketable Securities |
The following is a summary of cash, cash equivalents and marketable securities as of December 31, 2013, and 2012 (in thousands):
|
Amortized Cost |
|
|
Unrealized Gains |
|
|
Unrealized Losses |
|
|
Estimated Fair Value |
|
December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
$ |
1,766 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,766 |
|
Money market funds |
|
20,013 |
|
|
|
- |
|
|
|
- |
|
|
|
20,013 |
|
U.S. government agency securities |
|
1,343 |
|
|
|
- |
|
|
|
- |
|
|
|
1,343 |
|
Total cash and cash equivalents |
|
23,122 |
|
|
|
- |
|
|
|
- |
|
|
|
23,122 |
|
Marketable securities available-for-sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government agency securities |
|
166,285 |
|
|
|
16 |
|
|
|
(47 |
) |
|
|
166,254 |
|
Total marketable securities available-for-sale |
|
166,285 |
|
|
|
16 |
|
|
|
(47 |
) |
|
|
166,254 |
|
Total cash, cash equivalents and marketable securities |
$ |
189,407 |
|
|
$ |
16 |
|
|
$ |
(47 |
) |
|
$ |
189,376 |
|
December 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
$ |
1,542 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,542 |
|
Money market funds |
|
3,140 |
|
|
|
- |
|
|
|
- |
|
|
|
3,140 |
|
Municipal securities |
|
715 |
|
|
|
- |
|
|
|
- |
|
|
|
715 |
|
U.S. government agency securities |
|
2,202 |
|
|
|
- |
|
|
|
- |
|
|
|
2,202 |
|
Total cash and cash equivalents |
|
7,599 |
|
|
|
- |
|
|
|
- |
|
|
|
7,599 |
|
Marketable securities available-for-sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government agency securities |
|
116,986 |
|
|
|
46 |
|
|
|
(1 |
) |
|
|
117,031 |
|
U.S. treasury securities |
|
500 |
|
|
|
- |
|
|
|
- |
|
|
|
500 |
|
Total marketable securities available-for-sale |
|
117,486 |
|
|
|
46 |
|
|
|
(1 |
) |
|
|
117,531 |
|
Total cash, cash equivalents and marketable securities |
$ |
125,085 |
|
|
$ |
46 |
|
|
$ |
(1 |
) |
|
$ |
125,130 |
|
The maturities of our marketable securities available-for-sale are as follows (in thousands)
|
|
December 31, 2013 |
|
|
|
Amortized Cost |
|
|
Estimated Fair Value |
|
Mature in one year or less |
|
$ |
93,691 |
|
|
$ |
93,701 |
|
Mature after one year through two years |
|
|
72,594 |
|
|
|
72,553 |
|
|
|
$ |
166,285 |
|
|
$ |
166,254 |
|
We invest in short-term money market funds, U.S. government agency securities, U.S treasury securities and municipal securities. There were no realized gains or losses from the sale of marketable securities in the years ended December 31, 2013, 2012 and 2011. All of our investments are classified as short-term and available-for-sale, as we may not hold our investments until maturity. |