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Investments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Investments

Investments consist of the following as of March 31, 2016 and December 31, 2015 (dollars in thousands):

		March 31, 2016
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Municipal bonds		$	930			$	-			$	(8	)		$	922
Non-governmental debt securities			84,965				38				(97	)			84,906
Treasury and federal agencies			37,020				28				(17	)			37,031
Total short-term investments			122,915				66				(122	)			122,859
Long-term investments (available for sale):
Municipal bond			7,850				-				(476	)			7,374
Total investments (available for sale)		$	130,765			$	66			$	(598	)		$	130,233

		December 31, 2015
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Municipal bonds		$	1,500			$	-			$	(11	)		$	1,489
Non-governmental debt securities			76,999				-				(242	)			76,757
Treasury and federal agencies			36,779				3				(127	)			36,655
Total short-term investments			115,278				3				(380	)			114,901
Long-term investments (available for sale):
Municipal bond			7,850				-				(476	)			7,374
Total investments (available for sale)		$	123,128			$	3			$	(856	)		$	122,275

Investments Measured at Fair Value on Recurring Basis

Investments measured at fair value on a recurring basis subject to the disclosure requirements of FASB ASC Topic 820 – Fair Value Measurements at March 31, 2016 and December 31, 2015 were as follows (dollars in thousands):

		As of  March 31, 2016
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	922			$	7,374			$	8,296
Non-governmental debt securities			-				84,906				-				84,906
Treasury and federal agencies			-				37,031				-				37,031
Totals		$	-			$	122,859			$	7,374			$	130,233
		As of  December 31, 2015
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	1,489			$	7,374			$	8,863
Non-governmental debt securities			-				76,757				-				76,757
Treasury and federal agencies			-				36,655				-				36,655
Totals		$	-			$	114,901			$	7,374			$	122,275

Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following table presents a rollforward of our assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as defined in FASB ASC Topic 820 for the quarter ended March 31, 2016 (dollars in thousands):

Balance at December 31, 2015		$	7,374
Unrealized gain (loss)			-
Balance at March 31, 2016		$	7,374

Schedule of Maintenance Fee Payment to CCKF

We make periodic operating maintenance payments for our use of intellipath^TM. The total fees paid to CCKF for the quarters ended March 31, 2016 and 2015, were as follows (dollars in thousands):

	Maintenance Fee Payments
For the quarter ended March 31, 2016	$	342
For the quarter ended March 31, 2015	$	356

X

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: 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

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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+ References

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