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Cash, Cash Equivalents and Marketable Securities
12 Months Ended
Dec. 31, 2013
Cash, Cash Equivalents and Marketable Securities

4.

Cash, Cash Equivalents and Marketable Securities

The following is a summary of cash, cash equivalents and marketable securities as of December 31, 2013, and 2012 (in thousands):

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

$

1,766

 

 

$

-

 

 

$

-

 

 

$

1,766

 

Money market funds

 

20,013

 

 

 

-

 

 

 

-

 

 

 

20,013

 

U.S. government agency securities

 

1,343

 

 

 

-

 

 

 

-

 

 

 

1,343

 

Total cash and cash equivalents

 

23,122

 

 

 

-

 

 

 

-

 

 

 

23,122

 

Marketable securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

 

166,285

 

 

 

16

 

 

 

(47

)

 

 

166,254

 

Total marketable securities available-for-sale

 

166,285

 

 

 

16

 

 

 

(47

)

 

 

166,254

 

Total cash, cash equivalents and marketable securities

$

189,407

 

 

$

16

 

 

$

(47

)

 

$

189,376

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

$

1,542

 

 

$

-

 

 

$

-

 

 

$

1,542

 

Money market funds

 

3,140

 

 

 

-

 

 

 

-

 

 

 

3,140

 

Municipal securities

 

715

 

 

 

-

 

 

 

-

 

 

 

715

 

U.S. government agency securities

 

2,202

 

 

 

-

 

 

 

-

 

 

 

2,202

 

Total cash and cash equivalents

 

7,599

 

 

 

-

 

 

 

-

 

 

 

7,599

 

Marketable securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

 

116,986

 

 

 

46

 

 

 

(1

)

 

 

117,031

 

U.S. treasury securities

 

500

 

 

 

-

 

 

 

-

 

 

 

500

 

Total marketable securities available-for-sale

 

117,486

 

 

 

46

 

 

 

(1

)

 

 

117,531

 

Total cash, cash equivalents and marketable securities

$

125,085

 

 

$

46

 

 

$

(1

)

 

$

125,130

 

 

The maturities of our marketable securities available-for-sale are as follows (in thousands)

 

 

 

December 31, 2013

 

 

 

Amortized Cost

 

 

Estimated Fair Value

 

Mature in one year or less

 

$

93,691

 

 

$

93,701

 

Mature after one year through two years

 

 

72,594

 

 

 

72,553

 

 

 

$

166,285

 

 

$

166,254

 

 

 

We invest in short-term money market funds, U.S. government agency securities, U.S treasury securities and municipal securities.

There were no realized gains or losses from the sale of marketable securities in the years ended December 31, 2013, 2012 and 2011. All of our investments are classified as short-term and available-for-sale, as we may not hold our investments until maturity.