Investments in Marketable Securities (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security |
Amortized cost and fair value of marketable securities,
available-for-sale, by type of security consisted of the following
(in thousands):
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December 31, 2016 |
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December 31, 2015 |
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair
Value
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair
Value
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Short-term investments:
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U.S. treasuries
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$ |
24,987 |
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$ |
— |
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$ |
(30 |
) |
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$ |
24,957 |
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$ |
62,343 |
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$ |
— |
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$ |
(71 |
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$ |
62,272 |
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U.S. government sponsored entities
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2,497 |
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— |
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— |
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2,497 |
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17,571 |
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— |
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(12 |
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17,559 |
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Asset-backed securities and other
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— |
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— |
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— |
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— |
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29 |
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— |
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— |
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29 |
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$ |
27,484 |
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$ |
— |
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$ |
(30 |
) |
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$ |
27,454 |
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$ |
79,943 |
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$ |
— |
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$ |
(83 |
) |
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$ |
79,860 |
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Long-term investments:
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U.S. treasuries
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$ |
40,865 |
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$ |
— |
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$ |
(229 |
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$ |
40,636 |
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$ |
15,283 |
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$ |
— |
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$ |
(112 |
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$ |
15,171 |
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U.S. government sponsored entities
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12,618 |
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— |
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(58 |
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12,560 |
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12,107 |
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— |
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(85 |
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12,022 |
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Corporate debt securities
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17,841 |
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74 |
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(165 |
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17,750 |
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17,219 |
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5 |
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(519 |
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16,705 |
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Asset-backed securities and other
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6,557 |
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18 |
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(46 |
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6,529 |
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10,649 |
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— |
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(152 |
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10,497 |
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$ |
77,881 |
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$ |
92 |
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$ |
(498 |
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$ |
77,475 |
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$ |
55,258 |
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$ |
5 |
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$ |
(868 |
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$ |
54,395 |
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| Amortized Cost and Fair Value of Investments in Available for Sale Securities |
The amortized cost and fair value of the Company’s
investments in available-for-sale securities that have been in a
continuous unrealized loss position consisted of the following (in
thousands):
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December 31, 2016 |
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December 31, 2015 |
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Unrealized
Loss |
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Fair
Value |
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Unrealized
Loss |
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Fair
Value |
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Less than 12 months
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$ |
(491 |
) |
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$ |
86,105 |
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$ |
(951 |
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$ |
129,117 |
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12 months or longer
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$ |
(37 |
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$ |
721 |
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$ |
— |
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$ |
— |
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| Gross Realized Gains and Losses from Sale of Available for Sale Securities |
Gross realized gains and gross realized losses from the sales of
the Company’s available-for-sale securities consisted of the
following (in thousands):
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December 31, |
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2016 |
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2015 |
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Gross realized gain (1)
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$ |
43 |
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$ |
135 |
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Gross realized loss (1)
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$ |
(166 |
) |
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$ |
(3 |
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(1) |
Recorded in other income (expense),
net in the consolidated statements of net and comprehensive income.
The cost basis of securities sold were determined on the specific
identification method. |
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| Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity |
Amortized cost and fair value of marketable securities,
available-for-sale, by contractual maturity consisted of the
following (in thousands):
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December 31, 2016 |
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December 31, 2015 |
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Amortized
Cost |
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Fair
Value |
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Amortized
Cost |
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Fair
Value |
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Due in one year or less
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$ |
27,484 |
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$ |
27,454 |
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$ |
79,943 |
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$ |
79,860 |
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Due after one year through five years
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57,309 |
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57,144 |
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28,634 |
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28,465 |
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Due after five years through ten years
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14,992 |
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14,841 |
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18,020 |
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17,466 |
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Due after ten years
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5,580 |
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5,490 |
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8,604 |
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8,464 |
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$ |
105,365 |
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$ |
104,929 |
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$ |
135,201 |
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$ |
134,255 |
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Weighted average maturity
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3.5 years |
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3.3 years |
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