Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2020

Cash and Cash Equivalents [Abstract]

Cash Equivalents and Investments

. Cash and Cash Equivalents

As of December 31, 2020 and 2019, the Company had invested its excess cash balances primarily in cash and money market funds. The fair values of cash equivalents approximate their carrying values due to the short-term nature of such financial instruments.

The following table summarizes the Company’s cash and cash equivalents by significant investment category reported as cash and cash equivalents on the Consolidated Statement of Net Assets and the Consolidated Balance Sheet as of December 31, 2020 and 2019, respectively:

(in thousands)	December 31, 2020		December 31, 2019 (1) (2)
	(Liquidation Basis)		(Going Concern Basis)
Cash	$	75,681	$	37,718
Money market funds	51,161		131,264
Total	$	126,842	$	168,982

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(1) The amounts exclude $24.5 million of cash at Noden classified as held for sale as of December 31, 2019. See Note 4, Discontinued Operations Classified as Assets Held for Sale, for additional information.

(2) The table above includes amounts held by LENSAR as of December 31, 2019. LENSAR was spun-off on October 1, 2020.

The Company recognized approximately $0.8 million of gains on sales of available-for-sale securities in the year ended December 31, 2018. As of December 31, 2020 and 2019, the Company did not have any available-for-sale securities.