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Investments | 12 Months Ended
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Dec. 31, 2014
Investments |
Investments | Note 4 — Investments At December 31, 2014 and 2013 the amortized cost and fair value of marketable securities were as follows:
|  |  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  |  | (in thousands) |
December 31, 2014 |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 81,506 |  | $ | 27 |  | $ | (6 | ) | $ | 81,527 |
Corporate debt |  | 39,031 |  | 20 |  | (6 | ) | 39,045 |
Total available-for-sale securities |  | $ | 120,537 |  | $ | 47 |  | $ | (12 | ) | $ | 120,572 |
December 31, 2013 |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 130,956 |  | $ | 22 |  | $ | (1 | ) | $ | 130,977 |
Government agency securities |  | 61,004 |  | 9 |  | — |  | 61,013 |
Corporate debt |  | 77,582 |  | 55 |  | (36 | ) | 77,601 |
Commercial paper |  | 11,947 |  | — |  | — |  | 11,947 |
Total available-for-sale securities |  | $ | 281,489 |  | $ | 86 |  | $ | (37 | ) | $ | 281,538 |
Available-for-sale securities in a loss position at December 31, 2014 and 2013 were as follows:
|  |  | December 31, 2014 |  |  | December 31, 2013 |
|  |  | Estimated |  |  | Gross |  |  | Estimated |  |  | Gross |
|  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  | (in thousands) |
U.S. treasuries |  | $ | 35,001 |  | $ | (6 | ) | $ | 29,068 |  | $ | (1 | )
Corporate debt |  | 13,069 |  | (6 | ) | 37,654 |  | (36 | )
Total |  | $ | 48,070 |  | $ | (12 | ) | $ | 66,722 |  | $ | (37 | )
As of December 31, 2014 and 2013, there were no short-term investments that had been in a continuous loss position for more than 12 months. The contractual maturities of securities classified as available-for-sale at December 31, 2014 were as follows:
|  |  | December 31, 2014 |
|  |  |  |  |  | Estimated |
|  |  | Amortized |  |  | Fair |
|  |  | Cost |  |  | Value |
|  |  | (in thousands) |
Due in one year or less |  | $ | 74,710 |  | $ | 74,718 |
Due after one year through two years |  | 45,827 |  | 45,854 |
Total |  | $ | 120,537 |  | $ | 120,572 |
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Realized gains for the fiscal years ended December 31, 2014 and 2013 were $0.1 million in each period, and are included in “Other, net” in the Consolidated Statements of Operations. There were minimal realized gains for the year ended December 31, 2012 and no realized losses in any of the three years. Restricted Cash The total amount of restricted cash at December 31, 2014 and 2013 was $0.5 million and $2.7 million, respectively, 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. Cost Method Investment The Company maintains certain investments in support of its strategic business objectives, including a non-marketable cost method investment. The Company’s ownership interest is less than 20% of the investee’s voting stock, and the Company does not exert significant influence, therefore the investment is recorded at cost. The carrying value of the investment was $19.4 million and $16.9 million at December 31, 2014 and 2013, respectively and is included in “Other assets” on the Consolidated Balance Sheet. The investment is subject to a periodic impairment review; however, there are no open-market valuations, and the impairment analysis requires significant judgment. The analysis includes assessments of the investee’s financial condition, the business outlook for its products and technology, its projected results and cash flow, the likelihood of obtaining subsequent rounds of financing, and the impact of any relevant contractual equity preferences held by the Company or others. Fair value of the investment is not estimated unless there are identified events or changes in circumstances that could have a significant adverse effect on the fair value of the investment. No such events or circumstances are present.

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