Annual report pursuant to Section 13 and 15(d)

Marketable Securities

v3.10.0.1
Marketable Securities
12 Months Ended
Dec. 31, 2018
Cash And Cash Equivalents [Abstract]  
Marketable Securities

3. Marketable Securities

Marketable available-for-sale securities as of December 31, 2018 and 2017 consist of the following (in thousands):

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

As of December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. and foreign commercial paper

 

$

51,627

 

 

$

-

 

 

$

-

 

 

$

51,627

 

U.S. and foreign corporate debt securities

 

 

34,668

 

 

 

-

 

 

 

(34

)

 

 

34,634

 

Asset-backed securities

 

 

25,494

 

 

 

-

 

 

 

(22

)

 

 

25,472

 

U.S. treasury securities

 

 

17,938

 

 

 

-

 

 

 

(2

)

 

 

17,936

 

 

 

$

129,727

 

 

$

-

 

 

$

(58

)

 

$

129,669

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

As of December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. and foreign commercial paper

 

$

35,886

 

 

$

-

 

 

$

-

 

 

$

35,886

 

U.S. and foreign corporate debt securities

 

 

19,785

 

 

 

-

 

 

 

(25

)

 

 

19,760

 

Asset-backed securities

 

 

11,070

 

 

 

-

 

 

 

(10

)

 

 

11,060

 

U.S. treasury securities

 

 

7,459

 

 

 

-

 

 

 

(9

)

 

 

7,450

 

 

 

$

74,200

 

 

$

-

 

 

$

(44

)

 

$

74,156

 

 

The Company’s commercial paper and corporate debt securities consist of U.S. and foreign securities, from issuers in various sectors including finance and industry. The Company’s asset-backed securities consist of credit card receivables with investment-grade ratings.

 

As of December 31, 2018 and 2017, the remaining contractual maturities of the Company’s commercial paper, corporate debt securities, asset-backed securities, and U.S. treasury securities were less than 1 year. There were no realized gains and losses for the years ended December 31, 2018, 2017 and 2016. None of these investments have been in a continuous unrealized loss position for more than 12 months as of December 31, 2018 and 2017.

 

See Note 2 for further information regarding the fair value of the Company’s financial statements.