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Marketable Securities
9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities 
The Company has investments in equity and available-for-sale debt securities which are recorded at fair market value. The change in the fair value of equity investments is recognized in our unaudited condensed consolidated statements of loss and the change in the fair value of available-for-sale debt investments is recorded as other comprehensive income (loss) in shareholders’ (deficit) equity, net of income tax effects.
The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of September 30, 2019 and December 31, 2018, respectively:
 
 
September 30, 2019
Marketable Securities:
 
Adjusted Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
Equity securities
 
$
4,200

 
$

 
$
(24
)
 
$
4,176

Money market and mutual funds
 
43,306

 
785

 

 
44,091

Corporate bonds
 
4,190

 
69

 
(1
)
 
4,258

Government securities - U.S.
 
5,217

 
129

 
(2
)
 
5,344

Other fixed-income securities
 
1,693

 
26

 
(1
)
 
1,718

Total
 
$
58,606

 
$
1,009

 
$
(28
)
 
$
59,587

 
 
December 31, 2018
Marketable Securities:
 
Adjusted Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
Equity securities
 
$
10,101

 
$

 
$
(956
)
 
$
9,145

Money market and mutual funds
 
52,733

 
316

 
(53
)
 
52,996

Corporate bonds
 
6,411

 
7

 
(79
)
 
6,339

Government securities - U.S.
 
12,714

 
66

 
(79
)
 
12,701

Other fixed-income securities
 
9,400

 
22

 
(13
)
 
9,409

Total
 
$
91,359


$
411


$
(1,180
)

$
90,590

 
We determine realized gains or losses on the sale of marketable securities on a specific identification method. We reflect these gains and losses as a component of investment and other income in the accompanying unaudited condensed consolidated statements of loss.
We recognized gross realized gains of $71 and $143 for the three months ended September 30, 2019, and 2018, respectively. These realized gains were offset by realized losses of $64 and $22 for the three months ended September 30, 2019, and 2018, respectively.
We recognized gross realized gains of $339 and $378 for the nine months ended September 30, 2019, and 2018, respectively. These realized gains were offset by realized losses of $211 and $350 for the nine months ended September 30, 2019 and 2018, respectively. We reflect these gains and losses as a component of investment and other income in the accompanying condensed consolidated statements of income (loss).
The following table summarizes the estimated fair value of our investments in marketable debt securities, accounted for as available-for-sale debt securities and classified by the contractual maturity date of the securities as of September 30, 2019:
 
 
Maturities
Marketable Debt Securities:
 
Less than 1 Year
 
1-5 Years
 
5-10 Years
 
Greater than 10 Years
 
Total
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
 
$
556

 
$
3,360

 
$
342

 
$

 
$
4,258

Government securities - U.S.
 

 
4,600

 

 
744

 
5,344

Other fixed-income securities
 
49

 
1,669

 

 

 
1,718

Total
 
$
605

 
$
9,629

 
$
342

 
$
744

 
$
11,320


The Company has classified our investment in available-for-sale marketable debt securities as current assets in the unaudited condensed consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in our investment portfolio.