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. 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. For the three and nine months ended September 30, 2017, the amortization of bond premiums totaled $219 and $771 compared to $307 and $925 for the comparable period in 2016. The values of these securities may fluctuate as a result of changes in market interest rates and credit risk. The schedule of maturities at September 30, 2017 and December 31, 2016 are as follows:

Note D – Marketable Securities (continued)



	Maturities as of September 30, 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	$	14,378	$	33,839	$	11,527	$	70,559
Certificates of deposit	36,598		—		27,968		—
Total	$	50,976	$	33,839	$	39,495	$	70,559

For the three and nine months ended September 30, 2017, gains of $24 and $52 were reclassified from accumulated other comprehensive income and recognized in the income statement in interest and other income compared to gains of $3 and losses of $776 for the comparable periods in 2016. For the nine month period ended September 30, 2017, current marketable securities included unrealized gains of $4 and unrealized losses of $93 and long-term marketable securities included unrealized gains of $37 and unrealized losses of $29. For the comparable period in 2016, current marketable securities included unrealized losses of $220 while long-term marketable securities included unrealized gains of $592 and unrealized losses of $22.