Marketable Securities

Marketable securities consist primarily of certificates of deposit and corporate bonds with maturities greater than three months and up to four years at the time of purchase as well as marketable equity securities. These securities, which are classified as available-for-sale, are carried at fair value, with unrealized gains and losses, net of any tax effect, reported in stockholders’ equity as accumulated other comprehensive income (loss). These securities are classified as current and non-current marketable securities based upon their maturities. Amortization of premiums and discounts is included in interest income. The amortization of bond premiums totaled $308 for the three months ended March 31, 2017 and 2016. The values of these securities may fluctuate as a result of changes in equity values, market interest rates and credit risk. The schedule of maturities at March 31, 2017 and December 31, 2016 are as follows:

Note D – Marketable Securities (continued)



	Maturities as of March 31, 2017				Maturities as of December 31, 2016
	1 Year or Less		1 to 4 Years		1 Year or Less		1 to 4 Years
Corporate bonds	$	17,438	$	53,298	$	11,527	$	70,559
Certificates of deposit	28,244		—		27,968		—
Total	$	45,682	$	53,298	$	39,495	$	70,559

For the three months ended March 31, 2017, gains of $26 and losses of $6 were reclassified from accumulated other comprehensive income and recognized in the income statement in interest and other income compared to losses of $779 for the comparable period in 2016. For the three month period ended March 31, 2017, current marketable securities included unrealized gains of $2 and unrealized losses of $208 and long-term marketable securities included unrealized gains of $109 and unrealized losses of $45. For the comparable period in 2016, current marketable securities included unrealized losses of $443 while long-term marketable securities included unrealized gains of $296 and unrealized losses of $350.