Cash Equivalents and Investments

6 Months Ended

Jun. 30, 2017

Cash And Cash Equivalents [Abstract]

3. Cash Equivalents and Investments

The fair value of securities, not including cash at June 30, 2017 and December 31, 2016, were as follows (in thousands):

	June 30, 2017
	Amortized		Gross Unrealized					Estimated
	Cost		Gains		Losses			Fair Value
Money market funds	$	13,059	$	—	$	—		$	13,059
U.S. government securities		32,937		—		(45	)		32,892
Corporate notes		24,263		1		(6	)		24,258
Commercial paper		36,428		—		—			36,428
Total available-for-sale securities	$	106,687	$	1	$	(51	)	$	106,637
Classified as:
Cash equivalents								$	13,059
Short-term investments									93,578
Long-term investments									—
Total cash equivalents and investments								$	106,637

	December 31, 2016
	Amortized		Gross Unrealized					Estimated
	Cost		Gains		Losses			Fair Value
Money market funds	$	45,937	$	—	$	—		$	45,937
U.S. government securities		16,479		11		—			16,490
Corporate notes		23,947		—		(20	)		23,927
Commercial paper		24,971		—		—			24,971
Total available-for-sale securities	$	111,334	$	11	$	(20	)	$	111,325
Classified as:
Cash equivalents								$	45,937
Short-term investments									54,407
Long-term investments									10,981
Total cash equivalents and investments								$	111,325

Available-for-sale securities held as of June 30, 2017 had a weighted average days to maturity of 126 days. There have been no material realized gains or realized losses on available-for-sale securities for the periods presented.

As the carrying value approximates the fair value for the Company’s cash equivalents, short-term and long-term investments shown in the tables above, the following table summarizes the fair value of the Company’s cash equivalents, short-term and long-term investments classified by maturity (in thousands):

	June 30,		December 31,
	2017		2016
Due within one year	$	106,637	$	100,344
Due after one year through three years		—		10,981
Total available-for-sale marketable debt securities	$	106,637	$	111,325