Investments

We use specific identification when determining realized gains and losses on our available-for-sale and held-to-maturity securities. The following tables summarize unrealized gains and losses related to our investments:



Available-for-Sale	December 31, 2015
(In thousands)	Adjusted		Unrealized		Unrealized			Fair
	Cost		Gain		Loss			Value
Mutual Funds - Corporate & Government Debt	$	12,920	$	—	$	(217	)	$	12,703
Total	$	12,920	$	—	$	(217	)	$	12,703



	June 30, 2015
	Adjusted		Unrealized		Unrealized			Fair
	Cost		Gain		Loss			Value
Mutual Funds - Corporate & Government Debt	$	17,250	$	6	$	(29	)	$	17,227
Total	$	17,250	$	6	$	(29	)	$	17,227

For information on the unrealized holding losses on available-for-sale investments reclassified out of accumulated other comprehensive (loss) income into the consolidated statements of income, see “Note 10: Other Comprehensive (Loss) Income.”



Held-to-Maturity	December 31, 2015
(In thousands)	Carrying		Unrealized		Unrealized			Fair
	Value		Gain		Loss			Value
Fixed Income Bonds	$	3,520	$	—	$	(49	)	$	3,471
Time Deposits	7,737		1		(10		)	7,728
Total	$	11,257	$	1	$	(59	)	$	11,199



	June 30, 2015
	Carrying		Unrealized		Unrealized			Fair
	Value		Gain		Loss			Value
Fixed Income Bonds	$	3,526	$	—	$	(32	)	$	3,494
Time Deposits	10,924		11		(5		)	10,930
Total	$	14,450	$	11	$	(37	)	$	14,424

We have certain financial instruments on our condensed consolidated balance sheet related to interest bearing time deposits and fixed income bonds. These held-to-maturity time deposits are included in “Short-term investments” if the maturities at the end of the reporting period were 360 days or less or “Long-term investments” if the maturities at the end of the reporting period were over 360 days. Fixed income investments, maturing over the next one to four years, are comprised of investment-grade fixed income securities in various corporations with ratings of BBB- or better.

The following table presents the carrying amounts of certain financial instruments as of December 31, 2015 and June 30, 2015:



	Carrying Value
	Short-Term Investments				Long-Term Investments
(In thousands)	December 31, 2015		June 30, 2015		December 31, 2015		June 30, 2015
Mutual Funds - Corporate & Government Debt	$	12,703	$	17,227	$	—	$	—
Time deposits
Maturities from 1-90 days	1,753		1,496		—		—
Maturities from 91-360 days	3,736		4,438		—		—
Maturities over 360 days	—		—		2,248		4,990
Fixed Income Bonds
Maturities from 1-3 years	—		—		2,800		2,073
Maturities from 3-5 years	—		—		720		1,453
Total	$	18,192	$	23,161	$	5,768	$	8,516