Financial Instruments |
4. Financial Instruments
The fair value and amortized cost of cash equivalents and available-for-sale investments by major security type are presented in the following table (in thousands):
|
|
June 30, 2020 |
|
|
|
Amortized
Cost |
|
|
Unrealized
Gain |
|
|
Unrealized
Loss |
|
Estimated
Fair
Value |
|
Cash equivalents and investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
81,283 |
|
|
$ — |
|
|
$ — |
|
$ |
81,283 |
|
Corporate debt securities |
|
|
31,230 |
|
|
|
282 |
|
|
— |
|
|
31,512 |
|
Commercial paper |
|
|
12,453 |
|
|
— |
|
|
— |
|
|
12,453 |
|
U.S. government bonds |
|
|
7,501 |
|
|
|
10 |
|
|
— |
|
|
7,511 |
|
Asset back securities |
|
|
14,764 |
|
|
|
54 |
|
|
— |
|
|
14,818 |
|
Total cash equivalents and investments |
|
$ |
147,231 |
|
|
$ |
346 |
|
|
$ — |
|
$ |
147,577 |
|
Classified as: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
$ |
81,283 |
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
66,294 |
|
Long-term investments |
|
|
|
|
|
|
|
|
|
|
|
— |
|
Total cash equivalents and investments |
|
|
|
|
|
|
|
|
|
|
|
$ |
147,577 |
|
|
|
December 31, 2019 |
|
|
|
Amortized
Cost |
|
|
Unrealized
Gain |
|
|
Unrealized
Loss |
|
|
Estimated
Fair
Value |
|
Cash equivalents and investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
10,621 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,621 |
|
Corporate debt securities |
|
|
41,556 |
|
|
|
113 |
|
|
|
(1 |
) |
|
|
41,668 |
|
Commercial paper |
|
|
35,016 |
|
|
|
— |
|
|
|
— |
|
|
|
35,016 |
|
U.S. government bonds |
|
|
22,492 |
|
|
|
19 |
|
|
|
— |
|
|
|
22,511 |
|
Asset-backed securities |
|
|
28,762 |
|
|
|
25 |
|
|
|
— |
|
|
|
28,787 |
|
Total cash equivalents and investments |
|
$ |
138,447 |
|
|
$ |
157 |
|
|
$ |
(1 |
) |
|
$ |
138,603 |
|
Classified as: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,621 |
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
104,690 |
|
Long-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,292 |
|
Total cash equivalents and investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
138,603 |
|
As of June 30, 2020, the remaining contractual maturities of available-for-sale debt securities were as follows (in thousands):
|
|
Estimated
Fair Value |
|
|
Due within one year |
|
$ |
65,398 |
|
|
One to two years |
|
|
896 |
|
|
Total |
|
$ |
66,294 |
|
|
During the three and six months ended June 30, 2020 and 2019, there have been no significant realized gains or losses on available-for-sale investments, and the Company did not recognize any other-than-temporary impairment losses.
|