Marketable Securities

3 Months Ended

Mar. 31, 2016

Note 4. marketable securities

The amortized cost and fair value of marketable securities were as follows (in thousands):


As of March 31, 2016		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Corporate bonds	$	152,383	$	85	$	(90)	$	152,378
Asset backed securities		24,430		37		-		24,467
U.S. government bonds		17,057		11		-		17,068
Commercial paper		9,840		-		-		9,840
Certificates of deposit		8,600		-		-		8,600
Agency bonds		2,401		-		-		2,401
International government bonds		1,457		-		(1)		1,456
Municipal bonds		1,400		7		-		1,407
Total marketable securities	$	217,568	$	140	$	(91)	$	217,617

As of December 31, 2015		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Corporate bonds	$	177,810	$	24	$	(221)	$	177,613
U.S. government bonds		12,881		-		(10)		12,871
Agency bonds		12,068		-		(3)		12,065
Certificates of deposit		3,500		-		-		3,500
Commercial paper		3,491		-		-		3,491
International government bonds		1,462		-		(3)		1,459
Municipal bonds		1,400		-		(1)		1,399
Treasury bill		1,192		1		-		1,193
Total marketable securities	$	213,804	$	25	$	(238)	$	213,591

As of March 31, 2016, unrealized losses on marketable securities that have been in a continuous loss position for more than twelve months were not material. Our portfolio of marketable securities had an average AA- credit rating as of March 31, 2016. There were no marketable securities that we consider to be other-than-temporarily impaired as of March 31, 2016.

Remaining contractual maturities of marketable securities were as follows (in thousands):


As of March 31, 2016		Amortized Cost		Fair Value

Due in one year or less	$	162,177	$	162,198
Due after one year through three years		55,391		55,419
	$	217,568	$	217,617

- Definition

The entire disclosure for investments in certain debt and equity securities.

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