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MARKETABLE SECURITIES (Tables)
9 Months Ended
Sep. 30, 2020
MARKETABLE SECURITIES [Abstract]  
Composition of Marketable Securities Short-term and long-term marketable securities as of September 30, 2020 and December 31, 2019, respectively included the following:

September 30, 2020

(In thousands)

Contractual
Maturity
(in years)

Amortized
Cost

Gross
Unrealized
Gains

Gross Unrealized Losses

Fair
Value

Short-term:

Municipal bonds

Less than 1

$

23,965

$

191

$

$

24,156

Corporate debt securities

Less than 1

99,461

849

100,310

Commercial paper

Less than 1

7,984

15

7,999

Asset-backed securities

Less than 1

13,962

106

14,068

Government, federal agency, and other sovereign obligations

Less than 1

12,380

117

12,497

Total short-term marketable securities

$

157,752

$

1,278

$

$

159,030

Long-term:

Municipal bonds

1 - 2

$

26,209

$

561

$

$

26,770

Corporate debt securities

1 - 3

119,164

3,559

122,723

Asset-backed securities

1 - 2

123,778

2,316

126,094

Total long-term marketable securities

$

269,151

$

6,436

$

$

275,587

December 31, 2019

(In thousands)

Contractual
Maturity
(in years)

Amortized
Cost

Gross
Unrealized
Gains

Gross
Unrealized
Losses

Fair
Value

Short-term:

Municipal bonds

Less than 1

$

7,840

$

23

$

(1)

$

7,862

Corporate debt securities

Less than 1

69,091

247

(3)

69,335

Commercial paper

Less than 1

34,747

6

(1)

34,752

Asset-backed securities

Less than 1

3,808

6

3,814

Total short-term marketable securities

$

115,486

$

282

$

(5)

$

115,763

Long-term:

Municipal bonds

1 - 3

$

45,010

$

254

$

(8)

$

45,256

Corporate debt securities

1 - 3

186,356

2,578

(5)

188,929

Asset-backed securities

1 - 3

161,347

1,583

(33)

162,897

Government, federal agency, and other sovereign obligations

1 - 2

12,366

66

12,432

Total long-term marketable securities

$

405,079

$

4,481

$

(46)

$

409,514