The Company’s cash, cash equivalents, and investments consisted of the following:

At March 31, 2022 and December 31, 2021, cash and cash equivalents included bank balances and investments with original maturities of less than 90 days. At March 31, 2022 and December 31, 2021, the Company’s cash equivalents were invested in highly liquid AAA rated money market funds that are required to comply with Rule 2a-7 of the Investment Company Act of 1940. Such funds utilize the amortized cost method of accounting, seek to maintain a constant $1.00 per share price, and are redeemable upon demand. The Company restricts its investments in AAA money market funds to those invested 100% in either short-term U.S. government agency securities or bank repurchase agreements collateralized by these same securities. The fair values of these money market funds are established through quoted prices in active markets for identical assets (Level 1 inputs). The Company’s cash in U.S. banks is insured by the Federal Deposit Insurance Corporation up to the insurable limit of $250.

As of March 31, 2022, the Company has no intention of repatriating the cash in its foreign bank accounts. If the Company decides to repatriate the cash in the foreign bank accounts, it may have trouble doing so in a timely manner. The Company may also be exposed to foreign currency fluctuations and taxes if it repatriates these funds.

At March 31, 2022 and December 31, 2021, the Company’s investments consisted of corporate bonds with ratings at the purchase date of A or higher and certificates of deposit. All the investments at March 31, 2022 and December 31, 2021 were classified as held-to-maturity. The bonds and certificates of deposit classified as short-term investments have original maturities greater than 90 days and mature within one year and the bonds and certificates of deposit classified as long-term investments have maturities greater than one year but less than two years. The Company’s bond investments are recorded at the purchase price and carried at amortized cost.

Under ASU 2016-13, the Company classifies its held-to-maturity investment portfolio by the investment type and further classifies the corporate bonds by the bond ratings. For estimating potential credit losses, the Company considers the historical loss data, the bond ratings, as well as current and future economic conditions.

Cash equivalents and investments were as follows at March 31, 2022 and December 31, 2021:

	March 31, 2022								December 31, 2021
	Level 1		Level 2			Total			Level 1		Level 2			Total
Cash equivalents:
Money market funds	$	1,202	$	0		$	1,202		$	1,403	$	0		$	1,403
Total Cash Equivalents	$	1,202	$	0		$	1,202		$	1,403	$	0		$	1,403
Short-Term Investments:
Corporate bonds	$	0	$	19,916		$	19,916		$	0	$	19,659		$	19,659
Certificates of deposit		2,653		0			2,653			2,903		0			2,903
Total Short-Term Investments	$	2,653	$	19,916		$	22,569		$	2,903	$	19,659		$	22,562
Cash equivalents and Investments - book value	$	3,855	$	19,916		$	23,771		$	4,306	$	19,659		$	23,965
Unrealized gains (losses)	$	0	$	(1	)	$	(1	)	$	1	$	(2	)	$	(1	)
Cash equivalents and Investments - fair value	$	3,855	$	19,915		$	23,770		$	4,307	$	19,657		$	23,964

The Company categorizes its financial instruments within a fair value hierarchy according to accounting guidance for fair value. The fair value hierarchy is described under the Fair Value of Financial Instruments in Note 2. For the Level 2 investments, the Company uses quoted prices of similar assets in active markets. The fair values in the table above reflect net realizable losses of $1 at March 31, 2022 and December 31, 2021.