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Balance Sheet Information | 6 Months Ended
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Jun. 30, 2011
Balance Sheet Information |
Balance Sheet Information |
Note 5—Balance Sheet Information Short-term Investments Available-for-sale securities consist of the following (in thousands):
|  | June 30, 2011 |
|  | Amortized Cost |  | Gains in Accumulated Other Comprehensive Income |  | Losses in Accumulated Other Comprehensive Income |  | Estimated Fair Value |
Commercial paper |  | $ | 102,850 |  | $ | 26 |  | $ | — |  | $ | 102,876 |
FDIC insured corporate bonds |  | 127,856 |  | 217 |  | — |  | 128,073 |
Treasury bills |  | 149,484 |  | 73 |  | — |  | 149,557 |
Total available-for-sale securities |  | $ | 380,190 |  | $ | 316 |  | $ | — |  | $ | 380,506 |
|  | December 31, 2010 |
|  | Amortized Cost |  | Gains in Accumulated Other Comprehensive Income |  | Losses in Accumulated Other Comprehensive Income |  | Estimated Fair Value |
Commercial paper |  | $ | 128,527 |  | $ | 61 |  | $ | — |  | $ | 128,588 |
FDIC insured corporate bonds |  | 129,353 |  | 24 |  | — |  | 129,377 |
Treasury bills |  | 136,203 |  | 12 |  | — |  | 136,215 |
Total available-for-sale securities |  | $ | 394,083 |  | $ | 97 |  | $ | — |  | $ | 394,180 |
During the three and six months ended June 30, 2011, available-for-sale securities were sold for total proceeds of $252.0 million and $374.2 million, respectively. The gross realized gains on these sales were $0.2 million for the three and six months ended June 30, 2011. For purpose of determining gross realized gains, the cost of securities sold is based on specific identification. Net unrealized holding gains on available-for-sale securities amounting to $0.2 million for the three and six months ended June 30, 2011, have been included in accumulated other comprehensive income. During the three and six months ended June 30, 2010, available-for-sale securities matured for total proceeds of $120.0 million and $160.0 million, respectively. The gross realized gains on these sales were minimal for the three and six months ended June 30, 2010. There were no unrealized holding gains on available-for-sale securities for the three and six months ended June 30, 2010. Contractual maturities of available-for-sale debt securities at June 30, 2011, are as follows (in thousands):
|  | Estimated Fair Value |
Due in one year or less |  | $ | 146,462 |
Due in 1—2 years |  | 234,044 |
Total investments in debt securities |  | $ | 380,506 |
Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Restricted Cash As of June 30, 2011, we had $54.5 million of restricted cash consisting of $22.9 million that relates to the proceeds received from the sale of our Metrology segment. This cash is held in escrow and is restricted from use for one year from the closing date of the transaction to secure potential losses, if any, arising out of breaches of representations, warranties and covenants we made in the stock purchase agreement and related documents. Additionally, we had restricted cash consisting of $31.6 million which serves as collateral for bank guarantees that provide financial assurance that the Company will fulfill certain customer obligations. This cash is held in custody by the issuing bank, and is restricted as to withdrawal or use while the related bank guarantees are outstanding. Accounts Receivable, net Accounts receivable are shown net of the allowance for doubtful accounts of $0.5 million as of June 30, 2011 and December 31, 2010. Inventories Inventories are stated at the lower of cost (principally first-in, first-out) or market. Inventories consist of (in thousands):
|  | June 30, |  | December 31, |
|  | 2011 |  | 2010 |
Raw materials |  | $ | 54,127 |  | $ | 49,953 |
Work in process |  | 28,315 |  | 33,181 |
Finished goods |  | 30,897 |  | 25,353 |
|  | $ | 113,339 |  | $ | 108,487 |
Goodwill Changes in our goodwill during 2011 and 2010 are as follows (in thousands):
|  | Six months ended |  | Year ended |
|  | June 30, |  | December 31, |
|  | 2011 |  | 2010 |
Beginning Balance |  | $ | 52,003 |  | $ | 52,003 |
Business Acquired (see Note 2) |  | 15,104 |  | — |
Ending Balance |  | $ | 67,107 |  | $ | 52,003 |
Accrued Warranty We estimate the costs that may be incurred under the warranty we provide and record a liability in the amount of such costs at the time the related revenue is recognized. Factors that affect our warranty liability include product failure rates, material usage and labor costs incurred in correcting product failures during the warranty period. We periodically assess the adequacy of our recognized warranty liability and adjust the amount as necessary. Changes in our warranty liability during the period are as follows (in thousands):
|  | Six months ended |
|  | June 30, |
|  | 2011 |  | 2010 |
Balance as of the beginning of period |  | $ | 9,238 |  | $ | 6,675 |
Warranties issued during the period |  | 5,843 |  | 5,085 |
Settlements made during the period |  | (4,489 | ) | (3,241 | )
Balance as of the end of period |  | $ | 10,592 |  | $ | 8,519 |

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