9.      Cash, Cash Equivalents and Available-For-Sale Securities

 

Cash, cash equivalents and available-for-sale securities consisted of the following (in thousands):

 

 

Cash equivalents and available-for-sale securities include the following securities with unrealized gains and losses (in thousands):

 

 

 

As of September 30, 2014, the contractual maturities of our cash equivalents and available-for-sale securities were (in thousands):

 

 

As of September 30, 2014, our cash equivalents and available-for-sale securities had a weighted-average time to maturity of approximately 187 days. We view our available-for-sale portfolio as available for use in current operations. Accordingly, we have classified certain investments as available-for-sale securities on our balance sheet even though the stated maturity date of these securities may be more than one year from the current balance sheet date. We have the ability to hold all investments as of September 30, 2014 through their respective maturity dates. At September 30, 2014, we had no investments that had been in a continuous unrealized loss position for more than twelve months. As of September 30, 2014, a total of 21 individual securities had been in an unrealized loss position for twelve months or less and the losses were determined to be temporary. The gross unrealized losses above were caused by interest rate increases. No significant facts or circumstances have arisen to indicate that there has been any deterioration in the creditworthiness of the issuers of the securities held by us. Based on our review of these securities, including the assessment of the duration and severity of the unrealized losses and our ability and intent to hold the investments until maturity, there were no other-than-temporary impairments for these securities at September 30, 2014.

 

The following table shows the fair value and gross unrealized losses of our investments in individual securities that are in an unrealized loss position, aggregated by investment category (in thousands):