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CASH, CASH EQUIVALENTS AND INVESTMENTS
 9 Months Ended
Sep. 30, 2019
Cash And Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND INVESTMENTS

3.

CASH, CASH EQUIVALENTS AND INVESTMENTS:

The Company’s portfolio of fixed income securities consists of term bank certificates of deposit, U.S. Government and corporate bonds. The Company considers all highly liquid debt instruments purchased with an original maturity (maturity at the purchase date) of three months or less to be cash equivalents. The Company classifies its remaining debt security investments as available-for-sale. These debt securities are carried at fair market value, with unrealized gains and losses reported in shareholders’ equity. Gains or losses on securities sold are based on the specific identification method.

Cash and Cash Equivalents

 

The following table provides details regarding the Company’s portfolio of cash and cash equivalents (in thousands):

 

 

 

Amortized

 

 

Unrealized

 

 

Aggregate Fair

 

Cash and Cash Equivalents Classification

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

72,536

 

 

$

—

 

 

$

—

 

 

$

72,536

 

Money market accounts

 

 

11,230

 

 

 

—

 

 

 

—

 

 

 

11,230

 

U.S. Government bonds

 

 

151,748

 

 

 

27

 

 

 

—

 

 

 

151,775

 

 

 

$

235,514

 

 

$

27

 

 

$

—

 

 

$

235,541

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

71,217

 

 

$

—

 

 

$

—

 

 

$

71,217

 

Money market accounts

 

 

11,014

 

 

 

—

 

 

 

—

 

 

 

11,014

 

U.S. Government bonds

 

 

128,782

 

 

 

9

 

 

 

—

 

 

 

128,791

 

 

 

$

211,013

 

 

$

9

 

 

$

—

 

 

$

211,022

 

 

Short-term Investments

The following table provides details regarding the Company’s portfolio of short-term investments (in thousands):

 

 

 

Amortized

 

 

Unrealized

 

 

Aggregate Fair

 

Short-term Investments Classification

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

800

 

 

$

—

 

 

$

—

 

 

$

800

 

U.S. Government bonds

 

 

360,564

 

 

 

151

 

 

 

—

 

 

 

360,715

 

 

 

$

361,364

 

 

$

151

 

 

$

—

 

 

$

361,515

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

500

 

 

$

—

 

 

$

(1

)

 

$

499

 

Corporate bonds

 

 

114,678

 

 

 

1

 

 

 

(19

)

 

 

114,660

 

U.S. Government bonds

 

 

189,202

 

 

 

5

 

 

 

(43

)

 

 

189,164

 

 

 

$

304,380

 

 

$

6

 

 

$

(63

)

 

$

304,323

 

 

Minority Investments

The Company’s portfolio of minority investments consists of investments in privately held early stage companies primarily motivated to gain early access to new technology and are passive in nature in that the Company does not obtain representation on the board of directors of the companies in which it invests. As of September 30, 2019, the Company had one minority investment with a carrying value of $5.0 million accounted for as an equity security without a readily determinable fair value.