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Marketable Securities
 6 Months Ended
Jun. 30, 2020
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 income (loss) and the change in the fair value of available-for-sale debt investments is recorded as other comprehensive loss in shareholders’ equity (deficit), net of income tax effects. As of June 30, 2020, we considered any decreases in fair value on our marketable securities to be driven by factors other than credit risk, including market risk.
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 June 30, 2020 and December 31, 2019, respectively:
 
 
June 30, 2020
Marketable Securities:
 
Adjusted Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
Money market and mutual funds
 
$
98,024

 
$
824

 
$
—

 
$
98,848

Corporate bonds
 
8,720

 
180

 
(8
)
 
8,892

Government securities - U.S.
 
26,424

 
317

 
(1
)
 
26,740

Other fixed-income securities
 
1,867

 
33

 
—

 
1,900

Total
 
$
135,035

 
$
1,354

 
$
(9
)
 
$
136,380

 
 
December 31, 2019
Marketable Securities:
 
Adjusted Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
Equity securities
 
$
4,234

 
$
170

 
$
—

 
$
4,404

Money market and mutual funds
 
38,028

 
771

 
—

 
38,799

Corporate bonds
 
4,021

 
77

 
—

 
4,098

Government securities - U.S.
 
5,341

 
110

 
(5
)
 
5,446

Other fixed-income securities
 
1,614

 
23

 
—

 
1,637

Total
 
$
53,238


$
1,151


$
(5
)

$
54,384

 
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 income (loss).
We recognized gross realized gains of $14 and $174 for the three months ended June 30, 2020, and 2019, respectively. These realized gains were offset by realized losses of $6 and $0 for the three months ended June 30, 2020, and 2019, respectively. We recognized gross realized gains of $290 and $268 for the six months ended June 30, 2020, and 2019, respectively. These realized gains were offset by realized losses of $878 and $147 for the six months ended June 30, 2020 and 2019, respectively. We reflect these gains and losses as a component of investment income in the accompanying unaudited 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 June 30, 2020:
 
 
Maturities
Marketable Debt Securities:
 
Less than 1 Year
 
1-5 Years
 
5-10 Years
 
Greater than 10 Years
 
Total
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
 
$
1,270

 
$
6,350

 
$
1,272

 
$
—

 
$
8,892

Government securities - U.S.
 
—

 
25,965

 
320

 
455

 
26,740

Other fixed-income securities
 
51

 
1,849

 
—

 
—

 
1,900

Total
 
$
1,321

 
$
34,164

 
$
1,592

 
$
455

 
$
37,532


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.

The following table shows the gross unrealized losses and fair value of our available-for-sale debt securities at June 30, 2020. The unrealized losses in the table below are driven by factors other than credit risk and have been in a unrealized loss position for less than one year. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases.

Marketable Debt Securities:
 
Fair Value
 
Unrealized Losses
 
 
 
 
 
Corporate bonds
 
$
3,187

 
$
7

Other fixed-income securities
 
506

 
1

Total
 
$
3,693

 
$
8