Investment in Securities

3 Months Ended

Mar. 31, 2020

Investments in Securities [Abstract]

Investments in Securities

3.  Investment in Securities

Investments in equity securities at March 31, 2020 and December 31, 2019 consisted of the following (in thousands):

	March 31, 2020				December 31, 2019
	Cost		Estimated Fair Value		Cost			Estimated Fair Value
Investments in equity securities:
Common stocks	$	41,148	$	16,729		$	41,226		$	26,463
Mutual funds		755		661			755			752
Closed-end funds		494		429			494			511
Total investments in equity securities	$	42,397	$	17,819		$	42,475		$	27,726

Investments in equity securities, including the Company’s investments in common stocks and the Funds, are stated at fair value with any unrealized gains or losses reported in each respective period’s earnings.

Investments in debt securities at March 31, 2020 and December 31, 2019 consisted of the following (in thousands):

	March 31, 2020
	Amortized Cost			Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Estimated Fair Value
Investments in debt securities:
Foreign government obligations		$	2,998		$	-		$	-		$	2,998
Total investments in debt securities		$	2,998		$	-		$	-		$	2,998

	December 31, 2019
	Amortized Cost			Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Estimated Fair Value
Investments in debt securities:
Foreign government obligations		$	6,547		$	-		$	-		$	6,547
Total investments in debt securities		$	6,547		$	-		$	-		$	6,547

Held-to-maturity investments are stated at amortized cost with any foreign currency remeasurement included in unrealized gains or losses in each respective period’s earnings. The maturity dates of all of the Company’s investments in debt securities are less than one year.