Investments in Marketable Securities (Tables)
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3 Months Ended |
Mar. 31, 2017 |
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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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March 31, 2017 |
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December 31, 2016 |
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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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$ |
48,604 |
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$ |
2 |
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$ |
(93 |
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$ |
48,513 |
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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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U.S. government sponsored entities
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1,998 |
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— |
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(2 |
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1,996 |
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2,497 |
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— |
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— |
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2,497 |
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Corporate debt securities
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6,403 |
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2 |
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(4 |
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6,401 |
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— |
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— |
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— |
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— |
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$ |
57,005 |
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$ |
4 |
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$ |
(99 |
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$ |
56,910 |
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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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Long-term investments:
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U.S. treasuries
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$ |
24,539 |
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$ |
— |
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$ |
(162 |
) |
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$ |
24,377 |
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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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U.S. government sponsored entities
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12,553 |
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— |
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(67 |
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12,486 |
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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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Corporate debt securities
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22,526 |
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108 |
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(104 |
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22,530 |
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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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Asset-backed securities and other
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7,090 |
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22 |
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(32 |
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7,080 |
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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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$ |
66,708 |
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$ |
130 |
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$ |
(365 |
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$ |
66,473 |
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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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| 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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March 31, 2017 |
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December 31, 2016 |
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Unrealized
Losses |
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Fair Value |
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Unrealized
Losses |
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Fair Value |
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Less than 12 months
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$ |
(437 |
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$ |
87,634 |
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$ |
(491 |
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$ |
86,105 |
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12 months or longer
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$ |
(27 |
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$ |
709 |
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$ |
(37 |
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$ |
721 |
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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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March 31, |
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2017 |
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2016 |
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Gross realized gains (1)
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$ |
— |
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$ |
— |
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Gross realized losses (1)
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$ |
— |
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$ |
(155 |
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| (1) |
Recorded in other income (expense),
net in the condensed 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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March 31, 2017 |
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December 31, 2016 |
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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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$ |
57,005 |
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$ |
56,910 |
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$ |
27,484 |
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$ |
27,454 |
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Due after one year through five years
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44,397 |
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44,307 |
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57,309 |
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57,144 |
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Due after five years through ten years
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15,549 |
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15,469 |
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14,992 |
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14,841 |
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Due after ten years
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6,762 |
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6,697 |
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5,580 |
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5,490 |
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$ |
123,713 |
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$ |
123,383 |
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$ |
105,365 |
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$ |
104,929 |
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Weighted average contractual maturity
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3.1 years |
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3.5 years |
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