Note 5 - Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Fair Value Disclosures [Text Block]

5.     FAIR VALUE MEASUREMENTS

Investments by category included in cash equivalents at the end of each period were as follows (in thousands):

		December 31, 2020							December 31, 2019
	Fair Value Level1	Adjusted Cost		Gross Unrealized Losses			Fair Value		Adjusted Cost		Gross Unrealized Losses			Fair Value
Money market funds	Level 1	$	21,042	$	—		$	21,042	$	11,659	$	—		$	11,659
Time deposits	Level 2		5,458		—			5,458		13,544		—			13,544
Municipal debt securities	Level 2		30,280		(5	)		30,275		347		—			347
Corporate debt securities	Level 2		11,621		(6	)		11,615		56,784		(19	)		56,765
Total investments		$	68,401	$	(11	)	$	68,390	$	82,334	$	(19	)	$	82,315

¹ FASB Topic 820, Fair Value Measurements, establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.