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Marketable Securities | 6 Months Ended
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Jun. 30, 2021
Debt Securities, Available-for-sale, Sale [Abstract] |
Marketable Securities | Marketable SecuritiesRambus invests its excess cash and cash equivalents primarily in U.S. government-sponsored obligations, commercial paper, corporate notes and bonds, money market funds and municipal notes and bonds that mature within three years. All cash equivalents and marketable securities are classified as available-for-sale. Total cash, cash equivalents and marketable securities are summarized as follows:
|  | As of June 30, 2021
(In thousands) |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Weighted Rate of Return
Money market funds |  | $ | 19,262 |  |  | $ | 19,262 |  |  | $ | — |  |  | $ | — |  |  | 0.03 | %
U.S. Government bonds and notes |  | 64,103 |  |  | 64,118 |  |  | 1 |  |  | (16) |  |  | 0.08 | %
Corporate notes, bonds and commercial paper |  | 208,279 |  |  | 208,407 |  |  | 12 |  |  | (140) |  |  | 0.20 | %
Total cash equivalents and marketable securities |  | 291,644 |  |  | 291,787 |  |  | 13 |  |  | (156) |  |  |
Cash |  | 185,469 |  |  | 185,469 |  |  | — |  |  | — |  |  |
Total cash, cash equivalents and marketable securities |  | $ | 477,113 |  |  | $ | 477,256 |  |  | $ | 13 |  |  | $ | (156) |  |  |
|  | As of December 31, 2020
(In thousands) |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Weighted Rate of Return
Money market funds |  | $ | 18,162 |  |  | $ | 18,162 |  |  | $ | — |  |  | $ | — |  |  | 0.01 | %
U.S. Government bonds and notes |  | 169,633 |  |  | 169,670 |  |  | 3 |  |  | (40) |  |  | 0.12 | %
Corporate notes, bonds and commercial paper |  | 253,391 |  |  | 253,412 |  |  | 61 |  |  | (82) |  |  | 0.20 | %
Total cash equivalents and marketable securities |  | 441,186 |  |  | 441,244 |  |  | 64 |  |  | (122) |  |  |
Cash |  | 61,463 |  |  | 61,463 |  |  | — |  |  | — |  |  |
Total cash, cash equivalents and marketable securities |  | $ | 502,649 |  |  | $ | 502,707 |  |  | $ | 64 |  |  | $ | (122) |  |  |
Available-for-sale securities are reported at fair value on the balance sheets and classified along with cash as follows:
|  | As of
(In thousands) |  | June 30, 2021 |  | December 31, 2020
Cash equivalents |  | $ | 19,262 |  |  | $ | 67,504 |
Short-term marketable securities |  | 272,382 |  |  | 373,682 |
Total cash equivalents and marketable securities |  | 291,644 |  |  | 441,186 |
Cash |  | 185,469 |  |  | 61,463 |
Total cash, cash equivalents and marketable securities |  | $ | 477,113 |  |  | $ | 502,649 |
The Company continues to invest in highly rated and highly liquid debt securities. The Company holds all of its marketable securities as available-for-sale, marks them to market, and regularly reviews its portfolio to ensure adherence to its investment policy and to monitor individual investments for risk analysis, proper valuation, and unrealized losses that may be other than temporary. The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at June 30, 2021 and December 31, 2020 are as follows:
|  | Fair Value |  | Gross Unrealized Losses
(In thousands) |  | June 30, 2021 |  | December 31, 2020 |  | June 30, 2021 |  | December 31, 2020
Less than 12 months |  |  |  |  |  |  |  |
U.S. Government bonds and notes |  | $ | 54,628 |  |  | $ | 70,548 |  |  | $ | (16) |  |  | $ | (40) |
Corporate notes, bonds and commercial paper |  | 149,777 |  |  | 181,349 |  |  | (140) |  |  | (82) |
Total cash equivalents and marketable securities in a continuous unrealized loss position |  | $ | 204,405 |  |  | $ | 251,897 |  |  | $ | (156) |  |  | $ | (122) |
The gross unrealized losses at June 30, 2021 and December 31, 2020 were not material in relation to the Company’s total available-for-sale portfolio. The gross unrealized losses can be primarily attributed to a combination of market conditions as well as the demand for and duration of the U.S. government-sponsored obligations and corporate notes and bonds. The Company reasonably believes that there is no need to sell these investments and that it can recover the amortized cost of these investments. The Company has found no evidence of impairment due to credit losses in its portfolio. Therefore, these unrealized losses were recorded in other comprehensive income (loss). However, the Company cannot provide any assurance that its portfolio of cash, cash equivalents and marketable securities will not be impacted by adverse conditions in the financial markets, which may require the Company in the future to record an impairment charge for credit losses which could adversely impact its financial results. The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows:
(In thousands) |  | June 30, 2021
Due less than one year |  | $ | 196,592 |
Due from one year through three years |  | 75,790 |
Total |  | $ | 272,382 |
Refer to Note 8, “Fair Value of Financial Instruments,” for discussion regarding the fair value of the Company’s cash equivalents and marketable securities.

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- Definition The entire disclosure for cash, cash equivalents, investments in debt and equity instruments (including cost and equity investees and related income statement amounts), equity and cost method investments, investments in joint ventures and any other investment. + References No definition available. + Details
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