Quarterly report pursuant to Section 13 or 15(d)

Investments

v2.4.1.9
Investments
 3 Months Ended
Mar. 31, 2015
Investments  
Investments

(5)Investments

 

The amortized cost and estimated fair values of available-for-sale securities by balance sheet classification are as follows:

 

As of March 31, 2015

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$
100

 

$

—

 

$

—

 

$
100

 

U.S. government securities funds

 
1,791

 

—

 
(8

)
1,783

 

Equity securities

 
227

 
472

 
(13

)
686

 

Total short-term investment securities

 

$
2,118

 

$
472

 

$
(21

)

$
2,569

 

 

As of December 31, 2014

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$
100

 

$
1

 

$

—

 

$
101

 

U.S. government securities funds

 
1,791

 

—

 
(15

)
1,776

 

Equity securities

 
227

 
454

 
(12

)
669

 

Total short-term investment securities

 

$
2,118

 

$
455

 

$
(27

)

$
2,546

 

 

The municipal obligations held at a fair value of $100 at March 31, 2015, all mature in less than one year.

 

During the three-month periods ended March 31, 2015, and 2014, the proceeds from the sales of available-for-sale securities were $0 and $33, respectively.

 

The Company’s trading securities portfolio totaled $1,118 at March 31, 2015, and $1,038 at December 31, 2014, and generated gains of $23 and $15 for the three months ended March 31, 2015, and 2014.

 

As of March 31, 2015, and December 31, 2014, the Company had unrealized losses of $8 and $15, respectively, in its U.S. government securities funds. These losses are due to the interest rate sensitivity of the municipal obligations and the performance of the overall stock market for the equity securities.