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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Summary of Investments

Investments consist of the following as of March 31, 2017 and December 31, 2016 (dollars in thousands):

		March 31, 2017
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Municipal bonds		$	1,000			$	-			$	-			$	1,000
Non-governmental debt securities			107,023				18				(80	)			106,961
Treasury and federal agencies			35,431				7				(76	)			35,362
Total short-term investments			143,454				25				(156	)			143,323
Restricted short-term investments (available for sale):
Non-governmental debt securities			8,597				-				-				8,597
Total investments (available for sale)		$	152,051			$	25			$	(156	)		$	151,920

		December 31, 2016
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Municipal bonds		$	4,050			$	-			$	-			$	4,050
Non-governmental debt securities			107,305				22				(113	)			107,214
Treasury and federal agencies			36,480				10				(73	)			36,417
Total short-term investments			147,835				32				(186	)			147,681
Restricted short-term investments (available for sale):
Non-governmental debt securities			8,597				-				-				8,597
Total investments (available for sale)		$	156,432			$	32			$	(186	)		$	156,278

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, 2017 and December 31, 2016 were as follows (dollars in thousands):

		As of  March 31, 2017
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	1,000			$	-			$	1,000
Non-governmental debt securities			38,597				76,961				-				115,558
Treasury and federal agencies			-				35,362				-				35,362
Totals		$	38,597			$	113,323			$	-			$	151,920
		As of  December 31, 2016
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	4,050			$	-			$	4,050
Non-governmental debt securities			33,597				82,214				-				115,811
Treasury and federal agencies			-				36,417				-				36,417
Totals		$	33,597			$	122,681			$	-			$	156,278

Schedule of Maintenance Fee Payment to CCKF

We make periodic operating maintenance payments related to proprietary rights that we use in our intellipath^TM adaptive learning technology. The total fees paid to CCKF for the quarters ended March 31, 2017 and 2016 were as follows (dollars in thousands):

	Maintenance Fee Payments
For the quarter ended March 31,2017	$	325
For the quarter ended March 31,2016	$	342

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27337-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27198-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
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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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