Recent accounting pronouncements not specifically identified in our disclosures are not expected to have a  material effect on our financial condition and results of operations.  Our marketable debt securities consisted of the following: 3. Marketable Securities (In thousands) December 28, 2014 December 29, 2013 Short-term marketable securities Marketable debt securities U.S Treasury securities $ 238,488 $ 143,510 Corporate debt securities 208,346 78,991 U.S. agency securities 32,009 31,518 Municipal securities 13,622 48,035 Certificates of deposit 109,293 31,949 Commercial paper 34,985 30,877 Total short-term marketable securities $ 636,743 $ 364,880 Long-term marketable securities Marketable debt securities Corporate debt securities $ 71,191 $ 98,979 U.S. agency securities 95,204 73,697 Municipal securities 1,425 3,479 Total long-term marketable securities $ 167,820 $ 176,155 Marketable debt securities Marketable equity security See Note 8 for additional information regarding the fair value of our marketable securities. During the fourth quarter of 2013, we sold our remaining investment in the common stock of Brightcove, Inc.  We received cash proceeds of $5.5 million and recognized a gain of $1.1 million, ($0.7 million, net of tax). Upon sale,  net realized gains were transferred from accumulated other comprehensive income into the Condensed Consolidated  Statement of Income. Our investment in the common stock of Brightcove, Inc. was accounted for as available-for-sale and stated at  fair value. Changes in the fair value of our available-for-sale security were recognized as unrealized gains or losses  within “Long-term marketable securities” and “Accumulated other comprehensive loss, net of income taxes” in our  Condensed Consolidated Balance Sheets and “Unrealized gain/(loss) on available-for-sale security” in our  Condensed Consolidated Statements of Comprehensive Income/(Loss). As of December 28, 2014, our short-term and long-term marketable securities had remaining maturities of 1  month to 12 months and 13 months to 36 months, respectively.  THE NEW YORK TIMES COMPANY – P. 71