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INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Scheduled maturities of investments classified as available-for-sale
Scheduled maturities of investments classified as available-for-sale as of September 30, 2016 are as follows (in thousands):
Maturity
 
Fair Value
Due:
 
 
October 1, 2016 — September 30, 2017
 
$
1,171

October 1, 2017 — September 30, 2021
 
—

October 1, 2021 — September 30, 2026
 
—

After September 30, 2026
 
9,911

Available-for-sale investments
 
$
11,082
Schedule of available for sale securities reconciliation
As of September 30, 2016, the amortized cost basis and fair value of investments classified as available-for-sale were as follows (in thousands):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
 Unrealized
Losses
 
Fair
Value
Auction rate securities
$
11,242

 
$
728

 
$
(888
)
 
$
11,082

Available-for-sale investments
$
11,242

 
$
728

 
$
(888
)
 
$
11,082


As of December 31, 2015, the amortized cost basis and fair value of investments classified as available-for-sale were as follows (in thousands):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Auction rate securities
$
15,942

 
$
610

 
$
(1,045
)
 
$
15,507

Available-for-sale investments
$
15,942

 
$
610

 
$
(1,045
)
 
$
15,507
Schedule of unrealized loss on investments for twelve months or longer
The components of the Company’s investments in an unrealized loss position for twelve months or longer were as follows (in thousands):
 
September 30,
2016
 
December 31,
2015
 
Aggregate
Fair
 Value
 
Gross
Unrealized
Losses
 
Aggregate
Fair
 Value
 
Gross
Unrealized
Losses
Auction rate securities
$
9,911

 
$
(888
)
 
$
14,455

 
$
(1,045
)
Investments in an unrealized loss position
$
9,911

 
$
(888
)
 
$
14,455

 
$
(1,045
)