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Investments in Debt Securities (Tables)
12 Months Ended
Dec. 31, 2020
Debt Securities [Abstract]  
Summary of Classification of Debt Securities in Consolidated Balance Sheet

Debt securities are classified in the consolidated balance sheet as follows:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

Balance

 

 

Balance

 

 

(in thousands)

 

Cash equivalents

 

$

17,654

 

 

$

34,053

 

Current marketable securities

 

 

44,673

 

 

 

42,153

 

Non-current marketable securities

 

 

 

 

 

2,009

 

Total

 

$

62,327

 

 

$

78,215

 

Summary of Debt Securities by Maturity

 

The following table summarizes debt securities by maturity at December 31, 2020 (in thousands):

 

Maturity

 

Amortized Cost

 

Within one year

 

$

62,327

 

After one year through five years

 

 

 

Total

 

$

62,327

 

Summary of Debt Securities by Credit Quality Indicator

 

The following table summarizes debt securities by credit-quality indicator:

 

 

 

Credit Quality Indicator as of December 31, 2020

 

 

 

AAA

 

 

AA- to AA+

 

 

A- to A+

 

 

Total

 

 

 

(In thousands)

 

Money market funds

 

$

10,156

 

 

$

 

 

$

 

 

$

10,156

 

U.S. treasuries

 

 

 

 

 

15,043

 

 

 

 

 

 

15,043

 

U.S. government agency securities

 

 

 

 

 

9,150

 

 

 

 

 

 

9,150

 

Corporate paper and notes

 

 

7,498

 

 

 

 

 

 

20,480

 

 

 

27,978

 

Total

 

$

17,654

 

 

$

24,193

 

 

$

20,480

 

 

$

62,327

 

Summary of Fair Value of Debt Securities by Major Security Type

The following table summarizes the fair value of debt securities by major security type held at December 31, 2020 (in thousands):

 

Description

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

Money market funds

 

$

10,156

 

 

$

 

 

$

 

 

$

10,156

 

U.S. treasuries

 

 

15,043

 

 

 

1

 

 

 

 

 

 

15,044

 

U.S. government agency securities

 

 

9,150

 

 

 

 

 

 

 

 

 

9,150

 

Corporate paper and notes

 

 

27,978

 

 

 

2

 

 

 

(2

)

 

 

27,978

 

Total

 

$

62,327

 

 

$

3

 

 

$

(2

)

 

$

62,328

 

 

The following table summarizes the fair value of debt securities by major security type held at December 31, 2019 (in thousands):

 

Description

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

Money market funds

 

$

34,053

 

 

$

 

 

$

 

 

$

34,053

 

U.S. treasuries

 

 

1,496

 

 

 

2

 

 

 

 

 

 

1,498

 

U.S. government agency securities

 

 

3,987

 

 

 

7

 

 

 

 

 

 

3,994

 

Corporate paper and notes

 

 

38,679

 

 

 

32

 

 

 

(2

)

 

 

38,709

 

Total

 

$

78,215

 

 

$

41

 

 

$

(2

)

 

$

78,254