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Investments in Available-for-Sale Securities
 12 Months Ended
Dec. 31, 2019
Debt Securities, Available-for-sale [Abstract]  
Investments in Available-for-Sale Securities Investments in Available-for-Sale Securities

The Company has invested in marketable debt securities, primarily highly liquid U.S Treasury securities and investment grade corporate bonds. These investments are held in the custody of a major financial institution. These securities are classified as available-for-sale securities and, accordingly, the unrealized gains and losses are recorded through other comprehensive income.

The Company’s investments in available-for-sale marketable securities are as follows:
 
December 31, 2019
 
 
 
 
 
 
 
 
 
Balance Sheet
 
 
 
Gross
 
Gross
 
 
 
Classification
 
 
 
Unrealized
 
Unrealized
 
Fair
 
Short-Term
 
Cost Basis
 
Gains
 
Losses
 
Value
 
Investments
 
(In thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
35,044

 
$
1

 
$
(16
)
 
$
35,029

 
$
35,029

Corporate notes and bonds
100,643

 
200

 
(205
)
 
100,638

 
100,638

Total Investments
$
135,687

 
$
201

 
$
(221
)
 
$
135,667

 
$
135,667


 
December 31, 2018
 
 
 
 
 
 
 
 
 
Balance Sheet
 
 
 
Gross
 
Gross
 
 
 
Classification
 
 
 
Unrealized
 
Unrealized
 
Fair
 
Short-Term
 
Cost Basis
 
Gains
 
Losses
 
Value
 
Investments
 
(In thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
100,003

 
$
11

 
$
(126
)
 
$
99,888

 
$
99,888

Corporate notes and bonds
63,137

 
4

 
(232
)
 
62,909

 
62,909

Total Investments
$
163,140

 
$
15

 
$
(358
)
 
$
162,797

 
$
162,797


The aggregate fair value of investments with unrealized losses that had been owned for less than a year was $72.3 million and $115.2 million at December 31, 2019 and 2018, respectively. The aggregate fair value of investments with unrealized losses that have been owned for over a year was $0.0 million and $32.4 million at December 31, 2019 and 2018, respectively.

The debt securities outstanding at December 31, 2019 have maturity dates ranging from the first quarter of 2020 through the second quarter of 2021. The Company classifies its investments as current based on the nature of the investments and their availability to provide cash for use in current operations, if needed.