Quarterly report pursuant to Section 13 or 15(d)

Investments in Marketable Securities (Tables)

v3.10.0.1
Investments in Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
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):

 

     June 30, 2018      December 31, 2017  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
    Fair
Value
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
    Fair
Value
 

Short-term investments:

                     

U.S. treasuries

   $ 74,147      $ —        $ (136   $ 74,011      $ 57,712      $ —      $ (88   $ 57,624  

U.S. government sponsored entities

     3,510        —          (27     3,483        7,016        —          (8     7,008  

Corporate debt securities

     7,907        —          (15     7,892        8,931        —          (3     8,928  

Asset-backed securities and other

     100        —            —     100        —          —          —       —    
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 
   $ 85,664      $ —        $ (178   $ 85,486      $ 73,659      $ —        $ (99   $ 73,560  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Long-term investments:

                     

U.S. treasuries

   $ 3,726      $ —        $ (169   $ 3,557      $ 18,111      $ 7      $ (164   $ 17,954  

U.S. government sponsored entities

     1,663        —          (73     1,590        5,306        —          (62     5,244  

Corporate debt securities

     20,614        —          (513     20,101        22,505        268        (54     22,719  

Asset-backed securities and other

     6,721        5        (57     6,669        6,180        17        (15     6,182  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 
   $ 32,724      $ 5      $ (812   $ 31,917      $ 52,102      $ 292      $ (295   $ 52,099  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 
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):

 

     June 30, 2018      December 31, 2017  
     Unrealized
Loss
    Fair
Value
     Unrealized
Loss
    Fair
Value
 

Less than 12 months

   $ (721   $ 95,835      $ (158   $ 63,229  
  

 

 

   

 

 

    

 

 

   

 

 

 

12 months or longer

   $ (269   $ 19,988      $ (236   $ 44,961  
  

 

 

   

 

 

    

 

 

   

 

 

 
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):

 

     Three Months
Ended June 30,
     Six Months
Ended June 30,
 
     2018      2017      2018      2017  

Gross realized gains (1)

   $ 12      $ 1      $ 12      $ 1  
  

 

 

    

 

 

    

 

 

    

 

 

 

Gross realized losses (1)

   $ —        $   —    $ —        $ —    
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(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 based on the specific identification method.

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):

 

     June 30, 2018      December 31, 2017  
     Amortized
Cost
     Fair
Value
     Amortized
Cost
     Fair
Value
 

Due in one year or less

   $ 85,664      $ 85,486      $ 73,659      $ 73,560  

Due after one year through five years

     11,217        11,087        30,644        30,517  

Due after five years through ten years

     15,648        15,125        15,090        15,200  

Due after ten years

     5,859        5,705        6,368        6,382  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 118,388      $ 117,403      $ 125,761      $ 125,659  
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average contractual maturity

     2.5 years           2.6 years