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Investments
 3 Months Ended
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments
Investments consist of mutual funds at March 31, 2013 and of certificates of deposit, mutual funds, and municipal bonds at December 31, 2012. The Company classifies all investments as available-for-sale, as the sale of such investments may be required prior to maturity to implement management strategies. These investments are carried at fair value, with the unrealized gains and losses reported as a component of accumulated other comprehensive income (loss) until realized. A decline in the market value of any investment below cost that is determined to be other-than-temporary will result in a revaluation of its carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the investment is established. No such impairment charges were recorded during the three months ended March 31, 2013.
The following is a summary of investments as of March 31, 2013 and December 31, 2012:
 
 
 
 
As of March 31, 2013
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
7,900,063

 
$
78,837

 
$
(555
)
 
$
7,978,345

Total investments
 
 
$
7,900,063

 
$
78,837

 
$
(555
)
 
$
7,978,345

 
 
 
As of December 31, 2012
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
7,500,063

 
$
83,868

 
$
—

 
$
7,583,931

Certificates of deposit
Less than 1
 
250,000

 
—

 
—

 
250,000

Municipal bonds
Less than 1
 
201,470

 
—

 
(1,400
)
 
200,070

Total investments
 
 
$
7,951,533

 
$
83,868

 
$
(1,400
)
 
$
8,034,001