Available-for-sale Securities

6 Months Ended

Jun. 30, 2015

Note 3. Available-for-sale Securities

The following is a summary of available-for-sale securities at June 30, 2015 (in thousands):


	June 30, 2015
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Money market funds	$	18,588	$	—	$	—		$	18,588
United States government agency securities		61,995		9		—			62,004
Corporate debt securities		13,858		—		(8	)		13,850
Aduro equity securities		—		12,032		—			12,032

Total available-for-sale securities	$	94,441	$	12,041	$	(8	)	$	106,474

The following is a summary of available-for-sale securities at December 31, 2014 (in thousands):


	December 31, 2014
	Amortized Cost		Gross Unrealized Loss			Fair Value
Money market funds	$	3,912	$	—		$	3,912
United States government agency securities		3,427		(1	)		3,426
Corporate debt securities		26,118		(30	)		26,088

Total available-for-sale securities	$	33,457	$	(31	)	$	33,426

Available-for-sale debt securities at June 30, 2015 and December 31, 2014, consisted of the following by original contractual maturity (in thousands):


	June 30, 2015				December 31, 2014
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
One year or less	$	94,441	$	94,442	$	27,752	$	27,727
Greater than one year and less than five years		—		—		5,705		5,699

Total available-for-sale debt securities	$	94,441	$	94,442	$	33,457	$	33,426

As of June 30, 2015, the Company considered the declines in market value of its marketable securities investment portfolio to be temporary in nature and did not consider any of its investments other-than-temporarily impaired. Fair values were determined for each individual security in the investment portfolio. When evaluating an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, changes in market interest rates, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s cost basis. During the three and six months ended June 30, 2015 and 2014, the Company did not recognize any other-than-temporary impairment losses.

The Company recorded minimal gross realized gains from the sale or maturity of available-for-sale securities during the three and six months ended June 30, 2015, and did not record any gross realized gains from the sale or maturity of available-for-sale securities during the three and six months ended June 30, 2014. The Company did not record any gross realized losses from the sale or maturity of available-for-sale securities during the three and six months ended June 30, 2015 and 2014.

- Definition

The entire disclosure for investments in certain debt and equity securities.

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