NOTE 6 - MARKETABLE SECURITIES

Marketable securities as of March 31, 2020, and December 31, 2019 consist mainly of debt and mutual funds securities. The debt securities are classified as available-for-sale and are recorded at fair value. Changes in fair value, net of taxes (if applicable), are reflected in other comprehensive loss. Realized gains and losses on sales of the securities, as well as premium or discount amortization, are included in the consolidated statement of operations as finance income or expenses.

Equity securities with readily determinable fair value are measured at fair value. The changes in the fair value of equity investments are recognized through net income.

The following table sets forth the Company’s marketable securities:


	March 31		December 31
	2020		2019
Israeli mutual funds	$	1,024	$	1,020
Certificates of deposit		—		151
U.S Government		3,025		6,031
U.S Treasury bills		1,001		9,478
Corporate notes		14,067		—
Commercial paper		5,094		—
Total	$	24,211	$	16,680

As of March 31, 2020 and December 31, 2019 the fair value, cost and gross unrealized holding gains and losses of the debt marketable securities owned by the Company were as follows:


		March 31, 2020
	Fair		Cost or		Gross unrealized		Gross unrealized
	value		amortized cost		holding gains		holding losses
U.S Government	$	3,025	$	3,022	$	—	$	3
U.S Treasury bills		1,001		1,000		—		1
Corporate notes		14,067		14,107		40		—
Commercial paper		5,094		5,098		4		—
Total	$	23,187	$	23,227	$	44	$	4


	December 31, 2019
	Fair		Cost or		Gross unrealized		Gross unrealized
	value		amortized cost		holding gains		holding loss
Certificates of deposit	$	151	$	151	$	—	$	—
U.S Government and agency bonds		6,031		6,030		—		1
U.S Treasury bills		9,478		9,475		—		3
Total	$	15,660	$	15,656	$	—	$	4

As of March 31, 2020, the unrealized losses attributed to the Company’s marketable securities were primarily due to credit spreads and interest rate movements. The Company has considered factors regarding other than temporary impaired securities and determined that there are no securities with impairment that is other than temporary as of March 31, 2020 and December 31, 2019.

As of March 31, 2020, and December 31, 2019 all of the Company’s debt securities were due within one year.

During the three months ended March 31, 2020 and March 31, 2019 the Company received aggregate proceeds of $15,250 and $7,877, respectively, upon sale and maturity of marketable securities.

As of March 31, 2020, and December 31, 2019, the Company’s restricted marketable securities were $421 and $434, respectively, due to a lien in respect of bank guarantees granted to secure hedging transaction and the Company’s rent agreements. See "Note 5- Fair Value Measurement" and "Note 10-Operating Lease" for more information.