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Cash, cash equivalents and short-term investments
6 Months Ended
Jun. 30, 2013
Cash, cash equivalents and short-term investments  
Cash, cash equivalents and short-term investments

4.                                      Cash, cash equivalents and short-term investments

 

The following tables summarize our cash, cash equivalents and marketable securities at June 30, 2013 and December 31, 2012 (in thousands):

 

As of June 30, 2013

 

Amortized Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair Value

 

Cash and money market funds

 

$

28,193

 

$

 

$

 

$

28,193

 

Corporate debt securities

 

 

 

 

 

 

 

 

 

Due in one year or less

 

20,251

 

1

 

(16

)

20,236

 

Due in two years or less

 

5,927

 

 

(11

)

5,916

 

Total

 

$

54,371

 

$

1

 

$

(27

)

$

54,345

 

Reported as:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

28,193

 

$

 

$

 

$

28,193

 

Short-term investments

 

26,178

 

1

 

(27

)

26,152

 

Total

 

$

54,371

 

$

1

 

$

(27

)

$

54,345

 

 

As of December 31, 2012

 

Amortized Cost

 

Gross Unrealized
Gains

 

Gross Unrealized
Losses

 

Fair Value

 

Cash and money market funds

 

$

14,776

 

$

 

$

 

$

14,776

 

Corporate debt securities

 

 

 

 

 

 

 

 

 

Due in one year or less

 

5,754

 

2

 

(1

)

5,755

 

Due in two years or less

 

10,867

 

3

 

(10

)

10,860

 

Total

 

$

31,397

 

$

5

 

$

(11

)

$

31,391

 

Reported as:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

14,776

 

$

 

$

 

$

14,776

 

Marketable securities

 

16,621

 

5

 

(11

)

16,615

 

Total

 

$

31,397

 

$

5

 

$

(11

)

$

31,391

 

 

We held 21 debt securities at June 30, 2013 that had been in an unrealized loss position for less than 12 months. We held no investments that have been in a continuous unrealized loss position for 12 months or longer.  The fair value on these securities was $20.2 million. We evaluated our securities for other-than-temporary impairments based on quantitative and qualitative factors. We considered the decline in market value for these 21 securities to be primarily attributable to current economic and market conditions. It is not more likely than not that we will be required to sell these securities, and we do not intend to sell these securities before the recovery of their amortized cost bases, which recovery is expected within the next 12 months. Based on our analysis, we do not consider these investments to be other-than-temporarily impaired as of June 30, 2013.

 

As of June 30, 2013, we held $13.3 million in financial institution debt securities and other corporate debt securities located in Canada, the United Kingdom, the Netherlands, Australia, and Norway.  Based on our analysis, we do not consider these investments to be other-than-temporarily impaired as of June 30, 2013.

 

We had no material realized gains or losses on our short-term investments for the three months and six months ended June 30, 2013 and 2012. There were no other-than-temporary impairments recognized for the three months and six months ended June 30, 2013 and 2012.