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Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2019
Marketable Securities [Abstract]  
Schedule of Marketable Securities by Category

At December 31, 2019 and 2018, marketable securities are categorized as follows:

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Holding Gains

 

 

Gross

Unrealized

Holding Losses

 

 

Fair

Value

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

80,926

 

 

$

188

 

 

$

6

 

 

$

81,108

 

Asset-backed securities

 

 

10,767

 

 

 

12

 

 

 

 

 

 

10,779

 

Certificates of deposit

 

 

30,500

 

 

 

7

 

 

 

 

 

 

30,507

 

Commercial paper

 

 

30,707

 

 

 

1

 

 

 

 

 

 

30,708

 

Corporate bonds

 

 

36,409

 

 

 

52

 

 

 

 

 

 

36,461

 

Total marketable securities

 

$

189,309

 

 

$

260

 

 

$

6

 

 

$

189,563

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

62,681

 

 

$

43

 

 

$

40

 

 

$

62,684

 

Total marketable securities

 

$

62,681

 

 

$

43

 

 

$

40

 

 

$

62,684

 

Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities Classified by Maturity Date

The amortized cost and estimated fair value of marketable securities classified by the maturity date listed on the security, regardless of the Consolidated Balance Sheet classification, is as follows at December 31, 2019 and 2018:

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Amortized

Cost

 

 

Fair

Value

 

 

Amortized

Cost

 

 

Fair

Value

 

Due within one year

 

$

152,649

 

 

$

152,852

 

 

$

47,767

 

 

$

47,732

 

Due after one through five years

 

 

36,660

 

 

 

36,711

 

 

 

14,914

 

 

 

14,952

 

Due after five through ten years

 

 

 

 

 

 

 

 

 

 

 

 

Due after ten years

 

 

 

 

 

 

 

 

 

 

 

 

Total marketable securities

 

$

189,309

 

 

$

189,563

 

 

$

62,681

 

 

$

62,684

 

Summary of Estimated Fair Value and Gross Unrealized Holding Losses of Marketable Securities in Unrealized Loss Position

The following table summarizes the estimated fair value and gross unrealized holding losses of marketable securities, aggregated by investment instrument and period of time in an unrealized loss position, at December 31, 2019 and 2018.

 

 

 

In Unrealized Loss Position

For Less Than 12 Months

 

 

In Unrealized Loss Position

For Greater Than 12 Months

 

 

 

Fair

Value

 

 

Gross

Unrealized

Losses

 

 

Fair

Value

 

 

Gross

Unrealized

Losses

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

14,166

 

 

$

6

 

 

$

 

 

$

 

Total marketable securities

 

$

14,166

 

 

$

6

 

 

$

 

 

$

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

27,952

 

 

$

30

 

 

$

4,671

 

 

$

10

 

Total marketable securities

 

$

27,952

 

 

$

30

 

 

$

4,671

 

 

$

10