Annual report pursuant to Section 13 and 15(d)

Cash Equivalents and Marketable Securities

v3.19.1
Cash Equivalents and Marketable Securities
12 Months Ended
Dec. 31, 2018
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:

 

 

 

December 31, 2018

 

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

 

(in thousands)

 

Money market funds

 

$

116,202

 

 

$

-

 

 

$

-

 

 

$

116,202

 

Commercial paper

 

 

26,625

 

 

 

-

 

 

 

-

 

 

 

26,625

 

Corporate debt securities

 

 

11,795

 

 

 

-

 

 

 

(21

)

 

 

11,774

 

Asset-based securities

 

 

16,920

 

 

 

-

 

 

 

(21

)

 

 

16,899

 

U.S. government agencies

 

 

23,901

 

 

 

-

 

 

 

(5

)

 

 

23,896

 

Total

 

 

195,443

 

 

 

-

 

 

 

(47

)

 

 

195,396

 

Less amounts classified as cash equivalents

 

 

(116,202

)

 

 

-

 

 

 

-

 

 

 

(116,202

)

Total marketable securities

 

$

79,241

 

 

$

-

 

 

$

(47

)

 

$

79,194

 

 

 

 

December 31, 2017

 

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

 

(in thousands)

 

Money market funds

 

$

6,578

 

 

$

-

 

 

$

-

 

 

$

6,578

 

Commercial paper

 

 

7,689

 

 

 

-

 

 

 

-

 

 

 

7,689

 

Corporate debt securities

 

 

800

 

 

 

-

 

 

 

-

 

 

 

800

 

U.S. government agencies

 

 

3,893

 

 

 

-

 

 

 

-

 

 

 

3,893

 

Total

 

 

18,960

 

 

 

-

 

 

 

-

 

 

 

18,960

 

Less amounts classified as cash equivalents

 

 

(18,960

)

 

 

-

 

 

 

-

 

 

 

(18,960

)

Total marketable securities

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

 

As of December 31, 2018, some of the Company’s marketable securities were in an unrealized loss position. The Company determined that it does have the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery, thus there has been no recognition of any other-than-temporary impairment in the year ended December 31, 2018. All marketable securities with unrealized losses have been in a loss position for less than twelve months or the loss is not material.

 

All of the Company’s short-term marketable securities have an effective maturity date of less than one year.  No securities have contractual maturities of longer than one year.