CASH, CASH EQUIVALENTS,

INVESTMENTS

AND RESTRICTED CASH

The following is a summary of the Company’s cash, cash equivalents and short-term and long-term investments (in thousands):

	December 31,
	2018		2017
Cash, cash equivalents and investments:
Cash	$	131,569	$	75,125
Money market funds		41,135		7,134
Corporate debt securities		170,909		203,807
U.S. treasuries and government agency bonds		32,068		13,024
Certificates of deposit		1,600		-
Auction-rate securities backed by student-loan notes		3,241		5,256
Total	$	380,522	$	304,346

	December 31,
	2018		2017
Reported as:
Cash and cash equivalents	$	172,704	$	82,759
Short-term investments		204,577		216,331
Long-term investments		3,241		5,256
Total	$	380,522	$	304,346

The contractual maturities of the Company’s short-term and long-term available-for-sale investments are as follows (in thousands):

	December 31,
	2018		2017
Due in less than 1 year	$	125,845	$	89,399
Due in 1 - 5 years		78,732		126,932
Due in greater than 5 years		3,241		5,256
Total	$	207,818	$	221,587

The following tables summarize the unrealized gain and loss positions related to the Company’s available-for sale investments (in thousands):

	December 31, 2018
	Amortized Cost		Unrealized Gains		Unrealized Losses			Total Fair Value		Fair Value of Investments in Unrealized Loss Position
Money market funds	$	41,135	$	-	$	-		$	41,135	$	-
Corporate debt securities		172,288		7		(1,386	)		170,909		166,204
U.S. treasuries and government agency bonds		32,207		2		(141	)		32,068		28,507
Certificates of deposit		1,600		-		-			1,600		-
Auction-rate securities backed by student-loan notes		3,570		-		(329	)		3,241		3,241
Total	$	250,800	$	9	$	(1,856	)	$	248,953	$	197,952

	December 31, 2017
	Amortized Cost		Unrealized Gains		Unrealized Losses			Total Fair Value		Fair Value of Investments in Unrealized Loss Position
Money market funds	$	7,134	$	-	$	-		$	7,134	$	-
Corporate debt securities		204,789		17		(999	)		203,807		197,564
U.S. treasuries and government agency bonds		13,092		-		(68	)		13,024		13,024
Auction-rate securities backed by student-loan notes		5,570		-		(314	)		5,256		5,256
Total	$	230,585	$	17	$	(1,381	)	$	229,221	$	215,844

The Company sold

one

auction-rate security of

$2.0

million at par for the year ended

December 31, 2018.

There were

sales of auction-rate securities for the years ended

December 31, 2017

and

2016.

The underlying maturities of the remaining auction-rate securities are up to

years. As of both

December 31, 2018

and

2017,

the impairment of

0.3

million was determined to be temporary because management possesses both the intent and ability to hold these securities for a period of time sufficient to allow for any anticipated recovery in fair value. In addition, management believes that it is more likely than

not

that the Company will

not

have to sell these securities before recovery of its cost basis. To date, the Company has redeemed

92%

of the original portfolio in these securities, or

$39.7

million, at par without any realized losses.

Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the amounts reported in the Consolidated Statements of Cash Flows:

	December 31,
	2018		2017
Cash and cash equivalents	$	172,704	$	82,759
Restricted cash included in other long-term assets		114		115
Total cash, cash equivalents and restricted cash reported in the Consolidated Statements of Cash Flows	$	172,818	$	82,874

Restricted cash includes a security deposit that is set aside in a bank account and cannot be withdrawn by the Company under the terms of a lease agreement. The restriction will end and any unused amount will be returned to the Company upon the expiration of the lease.