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Investments
12 Months Ended
Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]  
Investments

4. Investments

Marketable Securities

Marketable debt securities, which are classified as available-for-sale, consisted of the following (in thousands):

 

 

 

December 31, 2019

 

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

29,377

 

 

$

 

 

$

 

 

$

29,377

 

U.S. and foreign commercial paper

 

 

4,999

 

 

 

 

 

 

 

 

 

4,999

 

U.S. government debt securities

 

 

2,550

 

 

 

 

 

 

 

 

 

2,550

 

Total cash equivalents

 

 

36,926

 

 

 

 

 

 

 

 

 

36,926

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. and foreign commercial paper

 

 

11,965

 

 

 

7

 

 

 

 

 

 

11,972

 

U.S. and foreign corporate debt securities

 

 

8,748

 

 

 

8

 

 

 

(1

)

 

 

8,755

 

U.S. government debt securities

 

 

48,647

 

 

 

71

 

 

 

 

 

 

48,718

 

U.S. treasuries

 

 

15,057

 

 

 

6

 

 

 

 

 

 

15,063

 

Total short-term marketable securities

 

 

84,417

 

 

 

92

 

 

 

(1

)

 

 

84,508

 

Long-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

 

3,025

 

 

 

 

 

 

 

 

 

3,025

 

Total long-term marketable securities

 

 

3,025

 

 

 

 

 

 

 

 

 

3,025

 

Total marketable securities

 

$

124,368

 

 

$

92

 

 

$

(1

)

 

$

124,459

 

 

 

 

December 31, 2018

 

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

14,131

 

 

$

 

 

$

 

 

$

14,131

 

Total cash equivalents

 

 

14,131

 

 

 

 

 

 

 

 

 

14,131

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. and foreign commercial paper

 

 

10,638

 

 

 

 

 

 

(3

)

 

 

10,635

 

U.S. and foreign corporate debt securities

 

 

26,552

 

 

 

2

 

 

 

(21

)

 

 

26,533

 

Asset-backed securities

 

 

2,750

 

 

 

 

 

 

(2

)

 

 

2,748

 

U.S. government debt securities

 

 

81,755

 

 

 

1

 

 

 

(57

)

 

 

81,699

 

U.S. treasuries

 

 

34,136

 

 

 

1

 

 

 

(16

)

 

 

34,121

 

Total short-term marketable securities

 

 

155,831

 

 

 

4

 

 

 

(99

)

 

 

155,736

 

Total marketable securities

 

$

169,962

 

 

$

4

 

 

$

(99

)

 

$

169,867

 

 

At December 31, 2019, the remaining contractual maturities of available-for-sale debt securities were less than two years. There have been no significant realized gains or losses on available-for-sale debt securities for the periods presented. Available-for-sale debt securities that were in a continuous loss position but were not deemed to be other than temporarily impaired were immaterial at both December 31, 2019 and 2018. The Company does not intend to and believes it is not more likely than not that it will be required to sell these debt securities before their maturities.

See Note 3, “Fair Value Measurements,” for further information regarding the fair value of the Company's financial instruments.