Cash, Cash Equivalents, and Investments (Tables)

12 Months Ended

Dec. 31, 2013

Cash And Cash Equivalents [Abstract]

Components of Cash, Cash Equivalents, and Investments

Cash, cash equivalents, and investments consisted of the following (in thousands):


	December 31,
	2013		2012
Cash	$	40,124	$	34,986
Cash equivalents		-		5,098
Money market instruments		520		5,076

Cash and cash equivalents		40,644		45,160

Corporate bonds		109,040		46,001
Asset-backed securities		53,559		17,666
Sovereign bonds		11,448		3,986
Municipal bonds		9,276		16,224
Agency bonds		1,499		7,482
Treasury bills		-		5,997
Covered bonds		-		5,618
Corporate stock		-		2,131

Short-term investments		184,822		105,105

Corporate bonds		109,909		100,072
Treasury bills		73,666		36,276
Asset-backed securities		21,820		34,710
Sovereign bonds		16,385		10,606
Municipal bonds		5,919		17,846
Agency bonds		-		29,441
Covered bonds		-		5,564
Limited partnership interest (accounted for using cost method)		1,956		3,740

Long-term investments		229,655		238,255

	$	455,121	$	388,520

Summary of Available-for-Sale Investments

The following tables summarize the Company’s available-for-sale investments as of December 31, 2013 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Short-term:
Corporate bonds	$	108,824	$	281	$	(65	)	$	109,040
Asset-backed securities		54,061		13		(515	)		53,559
Sovereign bonds		11,445		16		(13	)		11,448
Municipal bonds		9,258		18		-			9,276
Agency bonds		1,500		-		(1	)		1,499
Long-term:
Corporate bonds		109,457		550		(98	)		109,909
Treasury bills		73,801		4		(139	)		73,666
Asset-backed securities		21,866		11		(57	)		21,820
Sovereign bonds		16,376		35		(26	)		16,385
Municipal bonds		5,901		22		(4	)		5,919

	$	412,489	$	950	$	(918)		$	412,521

Gross Unrealized Losses and Fair Values for Available-for-Sale Investments

The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of December 31, 2013 (in thousands):


	Unrealized Loss Position For Less than 12 Months					Unrealized Loss Position For Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Treasury bills	$	61,966	$	(139	)	$	-	$	-		$	61,966	$	(139	)
Corporate bonds		58,258		(153	)		3,122		(10	)		61,380		(163	)
Asset-backed securities		35,138		(111	)		18,452		(461	)		53,590		(572	)
Sovereign bonds		15,434		(39	)		-		-			15,434		(39	)
Municipal bonds		2,581		(4	)		-		-			2,581		(4	)
Agency bonds		1,499		(1	)		-		-			1,499		(1	)

	$	174,876	$	(447	)	$	21,574	$	(471	)	$	196,450	$	(918	)

Effective Maturity Dates of Available-for-Sale Investments

The following table presents the effective maturity dates of the Company’s available-for-sale investments as of December 31, 2013 (in thousands):


	<1 Year		1-2 Years		2-3 Years		3-4 Years		Total
Corporate bonds	$	109,040	$	64,080	$	42,686	$	3,143	$	218,949
Asset-backed securities		53,559		14,917		6,903		-		75,379
Treasury bills		-		16,003		57,663		-		73,666
Sovereign bonds		11,448		8,810		7,575		-		27,833
Municipal bonds		9,276		1,269		2,754		1,896		15,195
Agency bonds		1,499		-		-		-		1,499

	$	184,822	$	105,079	$	117,581	$	5,039	$	412,521