Investments in Marketable Securities (Tables)
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9 Months Ended |
Sep. 30, 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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September 30, 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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$ |
65,457 |
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$ |
— |
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$ |
(92 |
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$ |
65,365 |
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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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7,034 |
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— |
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(8 |
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7,026 |
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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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10,422 |
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— |
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— |
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10,422 |
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— |
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— |
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— |
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— |
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$ |
82,913 |
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$ |
— |
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$ |
(100 |
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$ |
82,813 |
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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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$ |
10,062 |
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$ |
12 |
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$ |
(99 |
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$ |
9,975 |
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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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5,372 |
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— |
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(45 |
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5,327 |
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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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22,503 |
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358 |
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(29 |
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22,832 |
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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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7,281 |
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39 |
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(10 |
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7,310 |
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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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$ |
45,218 |
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$ |
409 |
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$ |
(183 |
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$ |
45,444 |
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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 Marketable Securities, Available for Sale Securities |
The amortized cost and fair value of the Company’s marketable
securities, available-for-sale securities
that have been in a continuous unrealized loss position consisted
of the following (in thousands):
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September 30, 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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$ |
(172 |
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$ |
72,509 |
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$ |
(491 |
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$ |
86,105 |
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12 months or longer
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$ |
(111 |
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$ |
21,354 |
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$ |
(37 |
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$ |
721 |
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| Gross Realized Gains and Losses from Sale of Marketable Securities, Available for Sale Securities |
Gross realized gains and gross realized losses from the sales of
the Company’s marketable
securities, available-for-sale securities
consisted of the following (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Gross realized gains (1)
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$ |
1 |
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$ |
16 |
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$ |
2 |
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$ |
36 |
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Gross realized losses (1)
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$ |
— |
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$ |
— |
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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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September 30, 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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$ |
82,913 |
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$ |
82,813 |
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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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23,572 |
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23,556 |
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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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15,166 |
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15,370 |
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14,992 |
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14,841 |
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Due after ten years
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6,480 |
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6,518 |
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5,580 |
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5,490 |
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$ |
128,131 |
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$ |
128,257 |
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$ |
105,365 |
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$ |
104,929 |
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Weighted average contractual maturity
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2.6 years |
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3.5 years |
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