Cash Equivalents and Marketable Securities
|9 Months Ended|
Sep. 30, 2020
|Cash And Cash Equivalents [Abstract]|
|Cash Equivalents and Marketable Securities||
4. Cash Equivalents and Marketable Securities
Cash equivalents and marketable securities consisted of the following:
As of September 30, 2020 and December 31, 2019, zero and $15.6 million, respectively, of marketable securities had maturities of more than one year and are classified as long-term assets.
There were zero and $4.5 million of investments in an unrealized loss position of zero and $3,000 as of September 30, 2020 and December 31, 2019, respectively. During the three and nine months ended September 30, 2020 and 2019, the Company did not record any other-than-temporary impairment charges on its available-for-sale securities. Based upon the Company’s impairment review, the Company determined that the unrealized losses were not attributed to credit risk but were primarily associated with changes in interest rates. Based on the scheduled maturities of the investments, the Company was more likely than not to hold these investments for a period of time sufficient for a recovery of the Company’s cost basis. As such, the Company concluded that the unrealized losses in the investment securities were not other-than-temporary.
The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef