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INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2014

INVESTMENTS

Summary of investments in held-to-maturity, available-for-sale and trading securities

September 30, 2014		Amortized Cost			Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Fair Value			Continuous Unrealized Loss Position less than 12 Months			Continuous Unrealized Loss Position greater than 12 Months
Held-to-Maturity
Short-term:
Certificates of deposit		$	2,504		$	-		$	-		$	2,504		$	-		$	-
Commercial paper		1,000			-			-			1,000			-			-
Municipal securities		579,695			123			-			579,818			-			-
Long-term:
Municipal securities		28,419			4			-			28,423			-			-
Total		$	611,618		$	127		$	-		611,745			$	-		$	-
Trading
Short-term:
Auction rate securities											4,842
Long-term:
Auction rate securities											-
Total											$	616,587

December 31, 2013		Amortized Cost			Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Fair Value			Continuous Unrealized Loss Position less than 12 Months			Continuous Unrealized Loss Position greater than 12 Months
Held-to-Maturity
Short-term:
Certificates of deposit		$	22,045		$	-		$	-		$	22,045		$	-		$	-
Commercial paper		5,991			-			-			5,991			-			-
Municipal securities		367,819			48			-			367,867			-			-
Total		$	395,855		$	48		$	-		395,903			$	-		$	-
Trading
Short-term:
Auction rate securities											6,392
Long-term:
Auction rate securities											9,792
Total											$	412,087

Schedule of net gain recognized through earnings on trading securities

		Three-Months Ended September 30,						Nine-Months Ended September 30,
		2014			2013			2014			2013
Gain on trading securities sold		$	630		$	140		$	900		$	140
Gain (loss) on trading securities held		18			71			(167)			468
Gain on trading securites		$	648		$	211		$	733		$	608

Summarizes the underlying contractual maturities of the Company's investments

		September 30, 2014						December 31, 2013

		Amortized Cost			Fair Value			Amortized Cost			Fair Value
Less than 1 year:
Certificates of deposit		$	2,504		$	2,504		$	22,045		$	22,045
Commercial paper		1,000			1,000			5,991			5,991
Municipal securities		579,695			579,818			367,819			367,867
Due 1 - 10 years:
Municipal securities		28,419			28,423			-			-
Due 11 - 20 years:
Auction rate securities		4,842			4,842			11,102			11,102
Due 21 - 30 years:
Auction rate securities		-			-			5,082			5,082
Total		$	616,460		$	616,587		$	412,039		$	412,087

Tabular disclosure of investments in trading securities.

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