Shutterfly 2015 Annual Report Download - page 92

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Note 4 — Investments
At December 31, 2015 and 2014, the estimated fair value of short-term and long-term investments classified
as available for sale are as follows (in thousands):
December 31, 2015
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Short-term investments
Corporate debt securities ....................... $ 16,187 $ 2 $ (14) $ 16,175
Agency securities ............................ 6,246 — (2) 6,244
Commercial paper ............................ 499 — — 499
Total short-term investments .................. $ 22,932 $ 2 $ (16) $ 22,918
Long-term investments
Corporate debt securities ....................... $ 10,132 $ — $ (37) $ 10,095
Agency securities ............................ 13,421 1 (43) 13,379
US Government securities ...................... 5,549 — (18) 5,531
Total long-term investments .................. $ 29,102 $ 1 $ (98) $ 29,005
December 31, 2014
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Short-term investments
Corporate debt securities ....................... $ 64,922 $ 3 $ (59) $ 64,866
Agency securities ............................ — — — —
Total short-term investments .................. $ 64,922 $ 3 $ (59) $ 64,866
Long-term investments
Corporate debt securities ....................... $ 14,511 $ 1 $ (30) $ 14,482
Agency securities ............................ 13,649 3 (7) 13,645
US Government securities ...................... 1,799 2 — 1,801
Total long-term investments .................. $ 29,959 $ 6 $ (37) $ 29,928
The Company had no short-term or long-term investments that have been in a continuous unrealized loss
position for more than 12 months as of December 31, 2015 and 2014 and no impairments were recorded in the
period. The Company had no material realized gains or losses during the years ended December 31, 2015 and 2014.
The following table summarizes the contractual maturities of the Company’s investments as of
December 31, 2015 and 2014(in thousands):
December 31,
2015 2014
One year or less ....................................................... $ 22,918 $ 64,866
One year through three years ............................................ 29,005 29,928
$ 51,923 $ 94,794
Actual maturities may differ from the contractual maturities because borrowers may have certain
prepayment conditions.
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