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Marketable Securities
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities MARKETABLE SECURITIES

As of June 30, 2019 and December 31, 2018, our marketable securities were classified as available-for-sale in accordance with accounting standards which provide guidance related to accounting and classification of certain investments in marketable securities. Available-for-sale marketable securities are those securities which we view as available for use in current operations, if needed. We generally classify our available-for-sale marketable securities as short-term investments on our condensed consolidated balance sheets even though the stated maturity date may be one year or more beyond the current balance sheet date.
The following is a summary of our marketable securities as of June 30, 2019 and December 31, 2018 (in thousands):
 
June 30, 2019
 
 
 
Gross
 
Gross
 
Estimated
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
Cost
 
Gains
 
Losses
 
Value
Short-term marketable securities:*
 
 
 
 
 
 
 
Corporate debt securities
$
47,410

 
$
122

 
$
(52
)
 
$
47,480

Certificates of deposit
8,000

 
—

 
—

 
8,000

U.S. treasury and government agency securities
6,394

 
—

 
(11
)
 
6,383

Commercial paper
1,500

 
—

 
—

 
1,500

Total short-term marketable securities
$
63,304

 
$
122

 
$
(63
)
 
$
63,363

Long-term marketable securities:**
 
 
 
 
 
 
 
Corporate debt securities
$
46,739

 
$
500

 
$
(19
)
 
$
47,220

Total long-term marketable securities
46,739

 
500

 
(19
)
 
47,220

Total marketable securities
$
110,043

 
$
622

 
$
(82
)
 
$
110,583


* Represents marketable securities with a remaining maturity of less than one year.
** Represents marketable securities with a remaining maturity of one to three years classified as short-term on our condensed consolidated balance sheets.
 
 
December 31, 2018
 
 
 
Gross
 
Gross
 
Estimated
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
Cost
 
Gains
 
Losses
 
Value
Short-term marketable securities:*
 
 
 
 
 
 
 
Corporate debt securities
$
51,184

 
$
—

 
$
(236
)
 
$
50,948

Certificates of deposit
7,647

 
—

 
(34
)
 
7,613

U.S. treasury and government agency securities
3,995

 
—

 
—

 
3,995

Commercial paper
12,000

 
—

 
—

 
12,000

Total short-term marketable securities
$
74,826

 
$
—

 
$
(270
)
 
$
74,556

Long-term marketable securities:**
 
 
 
 
 
 
 
Corporate debt securities
$
62,530

 
$
52

 
$
(433
)
 
$
62,149

U.S. treasury and government agency securities
2,742

 
—

 
(32
)
 
2,710

Certificates of deposit
1,500

 
—

 
—

 
1,500

Total long-term marketable securities
66,772

 
52

 
(465
)
 
66,359

Total marketable securities
$
141,598

 
$
52

 
$
(735
)
 
$
140,915



* Represents marketable securities with a remaining maturity of less than one year.
** Represents marketable securities with a remaining maturity of one to three years classified as short-term on our condensed consolidated balance sheets.

Impairments and Unrealized Gains and Losses on Marketable Securities
We did not recognize any other-than-temporary impairment losses on our condensed consolidated statements of operations related to our marketable securities during the three and six months ended June 30, 2019 and 2018. We considered various factors, including the length of time that each security was in an unrealized loss position and our ability and intent to hold these securities until the recovery of their amortized cost basis occurs. As of June 30, 2019, we had no material losses in an unrealized loss position for more than one year. Future events may occur, or additional information may become available, which may cause us to identify credit losses where we do not expect to receive cash flows sufficient to recover the entire amortized cost basis of a security and may necessitate the recording of future realized losses on securities in our portfolio. Significant losses in the estimated fair values of our marketable securities could have a material adverse effect on our earnings in future periods.