Zovio Inc - 10-K filing on 2015-03-10

Investments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Information of Short and Long-term Investments

The following table summarizes the fair value information of short and long-term investments as of December 31, 2014 and 2013, respectively (in thousands):



	December 31, 2014
	Level 1		Level 2		Level 3		Total
Mutual funds	$	1,071	$	—	$	—	$	1,071
Corporate notes and bonds	—		62,550		—		62,550
U.S. government and agency securities	—		34,987		—		34,987
Certificates of deposit	—		25,000		—		25,000
Total	$	1,071	$	122,537	$	—	$	123,608



	December 31, 2013
	Level 1		Level 2		Level 3		Total
Demand notes	$	—	$	719	$	—	$	719
Corporate notes and bonds	—		16,244		—		16,244
Certificates of deposit	—		90,000		—		90,000
Total	$	—	$	106,963	$	—	$	106,963

Schedule of Difference Between Amortized Cost and Fair Value

The following table summarizes the differences between amortized cost and fair value of short and long-term investments as of December 31, 2014 and 2013, respectively (in thousands):



	December 31, 2014
				Gross unrealized
	Maturities	Amortized Cost		Gain		Loss			Fair Value
Short-term
Corporate notes and bonds	1 year or less	10,947		33		—			10,980
Long-term
Corporate notes and bonds	3 years or less	51,874		—		(304		)	51,570
U.S. government and agency securities	3 years or less	35,000		—		(13		)	34,987
Certificates of deposit	3 years or less	25,000		—		—			25,000
Total		$	122,821	$	33	$	(317	)	$	122,537

The above table does not include $1.1 million for mutual funds at December 31, 2014, which are recorded as trading securities and are therefore not recorded at amortized cost.



	December 31, 2013
				Gross unrealized
	Maturities	Amortized Cost		Gain		Loss		Fair Value
Short-term
Demand notes	1 year or less	$	719	$	—	$	—	$	719
Corporate notes and bonds	1 year or less	5,132		50		—		5,182
Certificate of deposit	1 year or less	60,000		—		—		60,000
Long-term
Corporate notes and bonds	3 years or less	11,037		25		—		11,062
Certificate of deposit	3 years or less	30,000		—		—		30,000
Total		$	106,888	$	75	$	—	$	106,963