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INVESTMENTS | 12 Months Ended
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Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS The Company's investments consist of long-term variable rate debt instruments with an auction reset feature, referred to as auction rate securities ("ARS"), and are classified as available-for-sale and are carried at fair value. Scheduled maturities of investments classified as available-for-sale as of December 31, 2019 are as follows (in thousands):
Maturity |  | Fair Value
Due in: |  |
2020 |  | $ | — |
2021 — 2024 |  | — |
2025 — 2029 |  | — |
2030 and thereafter |  | 10,070 |
Available-for-sale investments |  | $ | 10,070 |
The Company had no realized gains or losses on its investments during the years ended December 31, 2019, 2018 and 2017. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis. As of December 31, 2019, the amortized cost basis and fair value of investments classified as available-for-sale were as follows (in thousands):
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Auction rate securities | $ | 10,800 |  |  | $ | — |  |  | $ | (730 | ) |  | $ | 10,070 |
Available-for-sale investments | $ | 10,800 |  |  | $ | — |  |  | $ | (730 | ) |  | $ | 10,070 |
As of December 31, 2018, the amortized cost basis and fair value of investments classified as available-for-sale were as follows (in thousands):
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Auction rate securities | $ | 10,800 |  |  | $ | — |  |  | $ | (730 | ) |  | $ | 10,070 |
Available-for-sale investments | $ | 10,800 |  |  | $ | — |  |  | $ | (730 | ) |  | $ | 10,070 |
The unrealized losses on the Company’s investments as of December 31, 2019 and 2018 were generated primarily from changes in interest rates and ARS that failed to settle at auction, due to adverse conditions in the global credit markets. The losses are considered temporary, as the contractual terms of these investments do not permit the issuer to settle the security at a price less than the amortized cost of the investment. Because the Company does not intend to sell these instruments and it is not more likely than not that the Company will be required to sell these instruments prior to anticipated recovery, which may be at maturity, the Company does not consider these investments to be other-than-temporarily impaired as of December 31, 2019 and 2018. See Note 6 for further discussion of the fair value of the Company’s financial assets. The components of the Company’s investments in an unrealized loss position for twelve months or longer were as follows (in thousands):
| December 31,
| 2019 |  | 2018
| Aggregate Fair Value |  | Gross Unrealized Losses |  | Aggregate Fair Value |  | Gross Unrealized Losses
Auction rate securities | $ | 10,070 |  |  | $ | (730 | ) |  | $ | 10,070 |  |  | $ | (730 | )
Investments in an unrealized loss position | $ | 10,070 |  |  | $ | (730 | ) |  | $ | 10,070 |  |  | $ | (730 | )
The Company did not have any investments in an unrealized loss position for less than twelve months as of December 31, 2019 and 2018, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
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