XML 24 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Cash Equivalents and Investments
 9 Months Ended
Sep. 30, 2012
Cash Equivalents and Investments
2. Cash Equivalents and Investments:

As of September 30, 2012 and December 31, 2011, the Company’s cash equivalents consisted entirely of money market funds with a fair value of $16.3 million and $11.6 million, respectively.

Investments consist of municipal debt securities, federal home loan securities and certificates of deposit. Investments with remaining maturities of less than one year are classified as short-term investments. Investments classified as long-term have maturities of one year to six years.

The Company intends and has the ability to hold its held-to-maturity securities to maturity, and therefore carries such investments at amortized cost in accordance with the provisions of the accounting guidance for investments in debt and equity securities.

 

Investments held at September 30, 2012 and December 31, 2011 are summarized as follows (in thousands):

 

     September 30, 2012      December 31, 2011  
     Short-Term      Long-Term      Short-Term      Long-Term  

Municipal debt securities

    $ 5,765       $ 25,454       $ 4,139       $ 26,964   

Federal home loan securities

      —           965         —           18,027   

Certificates of deposit

      —           14,082         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 5,765       $ 40,501       $ 4,139       $ 44,991