COGNIZANT TECHNOLOGY SOLUTIONS CORP | 2013 | FY | 3

The fair value and related unrealized losses of available-for-sale investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31:
 
2013
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and agency debt securities
$
221,548

 
$
(353
)
 
$
—

 
$
—

 
$
221,548

 
$
(353
)
Corporate and other debt securities
106,485

 
(243
)
 
—

 
—

 
106,485

 
(243
)
Asset-backed securities
84,051

 
(333
)
 
5,048

 
(58
)
 
89,099

 
(391
)
Municipal debt securities
10,702

 
(34
)
 
1,019

 
(6
)
 
11,721

 
(40
)
Mutual funds
—

 
—

 
20,183

 
(1,849
)
 
20,183

 
(1,849
)
Total
$
422,786

 
$
(963
)
 
$
26,250

 
$
(1,913
)
 
$
449,036

 
$
(2,876
)

 
2012
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and agency debt securities
$
120,118

 
$
(53
)
 
$
—

 
$
—

 
$
120,118

 
$
(53
)
Corporate and other debt securities
25,662

 
(21
)
 
699

 
(1
)
 
26,361

 
(22
)
Asset-backed securities
27,180

 
(93
)
 
1,499

 
(36
)
 
28,679

 
(129
)
Municipal debt securities
7,908

 
(32
)
 
696

 
(35
)
 
8,604

 
(67
)
Mutual funds
21,150

 
(433
)
 
—

 
—

 
21,150

 
(433
)
Total
$
202,018

 
$
(632
)
 
$
2,894

 
$
(72
)
 
$
204,912

 
$
(704
)

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