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Marketable Securities
 12 Months Ended
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities

The Company has classified its marketable securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive income/loss in shareholders' equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned.
The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at December 31, 2014 and 2013 were as follows:
(In thousands)
Amortized
cost
 
Gross
unrealized
holding
gains
 
Gross
unrealized
holding
losses
 
Estimated
fair value
December 31, 2014
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
Corporate bonds and notes
$
19,804

 
$
89

 
$
(55
)
 
$
19,838

 
 
Municipal bonds
6,292

 
28

 
(2
)
 
6,318

 
 
 
 
 
 
 
 
 
 
 
Total available-for-sale securities
$
26,096

 
$
117

 
$
(57
)
 
$
26,156


(In thousands)
Amortized
cost
 
Gross
unrealized
holding
gains
 
Gross
unrealized
holding
losses
 
Estimated
fair value
December 31, 2013
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
Corporate bonds and notes
$
18,832

  
$
68

  
$
(43
)
 
$
18,857

 
 
Municipal bonds
6,658

  
22

  
(11
)
 
6,669

 
 
 
 
 
 
 
 
 
 
 
Total available-for-sale securities
$
25,490

 
$
90

 
$
(54
)
 
$
25,526


Maturities of marketable securities classified as available-for-sale securities were as follows at December 31, 2014:
(In thousands)
Amortized
cost
 
Estimated
fair value
 
 
 
 
 
Due within one year
$
6,998

 
$
6,994

 
Due after one year through five years
18,733

 
18,796

 
Due after five years through ten years
365

 
366

 
  
 

 
 

Total available-for-sale securities
$
26,096

 
$
26,156



Debt securities in an unrealized loss position as of December 31, 2014 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. Management believes that it is more likely than not that the securities will receive a full recovery of par value. The available-for-sale marketable securities in a gross unrealized loss position as of December 31, 2014 are summarized as follows:
 
 
Less than 12 months
 
More than 12 months
 
Total
(In thousands)
Estimated
fair value
 
Gross
unrealized
holding
losses
 
Estimated
fair value
 
Gross
unrealized
holding
losses
 
Estimated
fair value
 
Gross
unrealized
holding
losses
As of December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds and notes
$
1,601

 
$
(11
)
 
$
6,865

 
$
(44
)
 
$
8,466

 
$
(55
)
Municipal bonds
—

 
—

 
1,168

 
(2
)
 
1,168

 
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1,601

 
$
(11
)
 
$
8,033

 
$
(46
)
 
$
9,634

 
$
(57
)