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Marketable Securities | 12 Months Ended
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Dec. 31, 2013
Marketable Securities [Abstract] |
Marketable Securities | Note 4 - Marketable Securities The Company's investment in marketable securities as of December 31, 2012 and 2013 are classified as "held-to-maturity" and consist of the following:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  |  |  |  | unrealized |  |  | unrealized |  |  |  |
|  | Amortized |  |  | holding |  |  | holding |  |  | Aggregate |
|  | cost basis** |  |  | gains |  |  | (losses) |  |  | fair value* |
|  | US$ thousands |
At December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities and |  |  |  |  |  |  |  |  |  |  |  |
government debt securities |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 15,015 |  |  |  | 20 |  |  |  | (76 | ) |  |  | 14,959 |
Non-Current |  |  | 24,617 |  |  |  | 69 |  |  |  | (167 | ) |  |  | 24,519 |
|  |  | 39,632 |  |  |  | 89 |  |  |  | (243 | ) |  |  | 39,478 |
At December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
government debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 12,702 |  |  |  | 23 |  |  |  | (56 | ) |  |  | 12,669 |
Non-Current |  |  | 28,775 |  |  |  | 193 |  |  |  | (126 | ) |  |  | 28,842 |
|  |  | 41,477 |  |  |  | 216 |  |  |  | (182 | ) |  |  | 41,511 |
* | Fair value is being determined using quoted market prices in active markets (Level 1).
** | Including accrued interest in the amount of $425K and $391K as of December 31, 2012 and 2013 respectively.
The amortized cost, gross unrealized losses and fair value of the debt securities by major interest type, mostly fixed interest, were as follows:
|  | December 31, 2013 |
|  |  |  |  | Net unrealized |  |  |  |
|  |  |  |  | holding |  |  |  |
|  | Amortized cost |  |  | gains/(losses) |  |  | Fair value |
|  | US$ thousands |
Up to 2% |  |  | 34,945 |  |  |  | (217 | ) |  |  | 34,728 |
2.05% - 2.951% |  |  | 4,687 |  |  |  | 63 |  |  |  | 4,750 |
|  |  | 39,632 |  |  |  | (154 | ) |  |  | 39,478 |
|  | December 31, 2012 |
|  |  |  |  | Net unrealized |  |  |  |
|  |  |  |  | holding |  |  |  |
|  | Amortized cost |  |  | gains/(losses) |  |  | Fair value |
|  | US$ thousands |
Up to 2% |  |  | 33,145 |  |  |  | (84 | ) |  |  | 33,061 |
2.038% - 2.951% |  |  | 8,332 |  |  |  | 118 |  |  |  | 8,450 |
|  |  | 41,477 |  |  |  | 34 |  |  |  | 41,511 |
Activity in marketable securities in 2013 |  | US$ thousands |
Balance at January 1, 2013 |  |  | 41,477 |
Purchases of marketable securities |  |  | 11,384 |
Discount of marketable securities |  |  | (729 | )
Proceeds from maturity of marketable securities |  |  | (12,500 | )
Balance at December 31, 2013 |  |  | 39,632 |
The following table summarizes the gross unrealized losses on investment securities for which other-than-temporary impairments have not been recognized and the fair value of those securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2013:
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
Held to maturity |  | Unrealized Losses |  |  | Fair value |  |  | Unrealized Losses |  |  | Fair value |  |  | Unrealized Losses |  |  | Fair value |
Corporate debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and government debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
securities |  |  | (144 | ) |  |  | 19,313 |  |  |  | (99 | ) |  |  | 8,112 |  |  |  | (243 | ) |  |  | 27,425 |
The unrealized losses on the investments were caused by interest rate increases. The Company has the ability and intent to hold these investments until maturity and it is more likely than not that the Company will not be required to sell any of the securities before recovery; therefore these investments are not considered other than temporarily impaired.

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