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CASH, CASH EQUIVALENTS AND INVESTMENTS
 12 Months Ended
Dec. 31, 2020
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 and U.S. Government 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

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

163,779

 

 

$

—

 

 

$

—

 

 

$

163,779

 

Money market accounts

 

 

17,261

 

 

 

—

 

 

 

—

 

 

 

17,261

 

U.S. Government bonds

 

 

448,970

 

 

 

6

 

 

 

(4

)

 

 

448,972

 

 

 

$

630,010

 

 

$

6

 

 

$

(4

)

 

$

630,012

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

119,272

 

 

$

—

 

 

$

—

 

 

$

119,272

 

Money market accounts

 

 

12,355

 

 

 

—

 

 

 

—

 

 

 

12,355

 

 

 

$

131,627

 

 

$

—

 

 

$

—

 

 

$

131,627

 

 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

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government bonds

 

$

99,929

 

 

$

67

 

 

$

—

 

 

$

99,996

 

 

 

$

99,929

 

 

$

67

 

 

$

—

 

 

$

99,996

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

700

 

 

$

—

 

 

$

—

 

 

$

700

 

U.S. Government bonds

 

 

513,577

 

 

 

190

 

 

 

(6

)

 

 

513,761

 

 

 

$

514,277

 

 

$

190

 

 

$

(6

)

 

$

514,461

 

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 December 31, 2020, 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.