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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Investments

Investments consist of the following as of June 30, 2016 and December 31, 2015 (dollars in thousands):

		June 30, 2016
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Non-governmental debt securities		$	105,475			$	69			$	(33	)		$	105,511
Treasury and federal agencies			35,260				47				(6	)			35,301
Total short-term investments			140,735				116				(39	)			140,812
Restricted short-term investments (available for sale):
Non-governmental debt securities			9,610				-				-				9,610
Long-term investments (available for sale):
Municipal bond			7,850				-				(476	)			7,374
Total investments (available for sale)		$	158,195			$	116			$	(515	)		$	157,796

		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 June 30, 2016 and December 31, 2015 were as follows (dollars in thousands):

		As of  June 30, 2016
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	-			$	7,374			$	7,374
Non-governmental debt securities			35,368				79,753				-				115,121
Treasury and federal agencies			-				35,301				-				35,301
Totals		$	35,368			$	115,054			$	7,374			$	157,796
		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 year to date ended June 30, 2016 (dollars in thousands):

Balance at December 31, 2015		$	7,374
Unrealized gain (loss)			-
Balance at June 30, 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 and years to date ended June 30, 2016 and 2015 were as follows (dollars in thousands):

	Maintenance Fee Payments
For the quarter ended June 30, 2016	$	345
For the quarter ended June 30, 2015	$	343
For the year to date ended June 30, 2016	$	687
For the year to date ended June 30, 2015	$	699

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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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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