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Investments in debt and equity securities | 12 Months Ended
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Dec. 31, 2013
Investments in debt and equity securities |
9. | Investments in debt and equity securities
Based on the Company’s intentions and strategy concerning investments in debt securities, the Company classifies certain debt securities as held-to-maturity and records them at amortized cost. Equity securities that have readily determinable fair values including those of mutual funds and other debt securities are classified as available for sale and recorded at fair value. The Company’s investments in securities consist of the following:
|  | December 31, 2013 |  |  | December 31, 2012 |
|  | Held to maturity |  |  | Available for sale |  |  | Total |  |  | Held to maturity |  |  | Available for sale |  |  | Total |
Certificates of deposit and money market funds due within one year |  | $ | 5,601 |  |  | $ | — |  |  | $ | 5,601 |  |  | $ | 5,938 |  |  | $ | — |  |  | $ | 5,938 |
Investments in mutual funds |  |  | — |  |  |  | 19,421 |  |  |  | 19,421 |  |  |  | — |  |  |  | 15,185 |  |  |  | 15,185 |
|  | $ | 5,601 |  |  | $ | 19,421 |  |  | $ | 25,022 |  |  | $ | 5,938 |  |  | $ | 15,185 |  |  | $ | 21,123 |
Short-term investments |  | $ | 5,601 |  |  | $ | 1,200 |  |  | $ | 6,801 |  |  | $ | 5,938 |  |  | $ | 1,200 |  |  | $ | 7,138 |
Long-term investments |  |  | — |  |  |  | 18,221 |  |  |  | 18,221 |  |  |  | — |  |  |  | 13,985 |  |  |  | 13,985 |
|  | $ | 5,601 |  |  | $ | 19,421 |  |  | $ | 25,022 |  |  | $ | 5,938 |  |  | $ | 15,185 |  |  | $ | 21,123 |
The cost of certificates of deposit and money market funds at December 31, 2013 and 2012 approximate their fair value. As of December 31, 2013 and 2012, available for sale investments included $5,096 and $2,146, respectively, of gross pre-tax unrealized gains. During 2013 and 2012 the Company recorded gross pre-tax unrealized gains of $3,752 and $2,524, respectively, in other comprehensive income associated with changes in the fair value of these investments. During 2013, the Company sold investments in mutual funds for net proceeds of $4,158, and recognized a pre-tax gain of $802, or $490 after tax, that was previously recorded in other comprehensive income. During 2012, the Company sold investments in mutual funds for net proceeds of $7,211, and recognized a pre-tax gain of $123, or $75 after tax, that was previously recorded in other comprehensive income. Investments in mutual funds classified as available for sale are held within a trust to fund existing obligations associated with several of the Company’s non-qualified deferred compensation plans. Certain HCP entities are required to maintain minimum cash balances in order to comply with regulatory requirements in conjunction with medical claim reserves. As of December 31, 2013, this minimum cash balance was approximately $51,000.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
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