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Short-term Investments
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9 Months Ended |
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Sep. 30, 2013
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| Short-term Investments | (4) Short-term Investments The Company periodically invests a portion of its excess cash in short-term investment instruments. The majority of the Company’s short-term investments are in U.S. Treasury securities, and the Company has the ability and intent to hold these investments to maturity. The stated maturity dates of these investments are between three months and one year from the purchase date. These held-to-maturity investments are recorded at amortized cost and included within “Short-term investments” on the Consolidated Balance Sheets. The fair value of held-to-maturity investments in U.S. Treasury securities is determined based on quoted market prices in active markets for identical securities (Level 1 inputs). The amortized cost, carrying value, and fair value of held-to-maturity investments at September 30, 2013 were $180.1 million, $180.1 million, and $180.2 million, respectively. The gross unrecognized holding gains and losses were not material for each of the three and nine months ended September 30, 2013 and 2012. No other-than-temporary impairments related to these investments have been recognized in accumulated other comprehensive loss as of September 30, 2013. As of December 31, 2012, the Company had no held-to-maturity investments. As of September 30, 2013 and December 31, 2012, the Company’s available-for-sale investments were not material. |