MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2018

At March 31, 2018 and December 31, 2017, the fair value of marketable securities are as follows:



	March 31, 2018		December 31, 2017
	(In thousands)
Available-for-sale marketable debt securities	$	4,990	$	4,995
Equity security with a readily determinable fair value	640		—
Total marketable securities	$	5,630	$	4,995

At March 31, 2018, current available-for-sale marketable debt securities are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Commercial paper	$	4,990	$	—	$	—	$	4,990
Total available-for-sale marketable debt securities	$	4,990	$	—	$	—	$	4,990

The contractual maturities of debt securities classified as current available-for-sale at March 31, 2018 are due within one year. There are no investments in available-for-sale marketable debt securities that are in an unrealized loss position as of March 31, 2018.

At March 31, 2018, the cost basis of the equity security with a readily determinable fair value was $0.3 million. With the adoption of ASU No. 2016-01 on January 1, 2018, the unrealized gain of $0.3 million is included in "Other expense, net" in the accompanying consolidated statement of operations.

At December 31, 2017, current available-for-sale marketable debt securities are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Commercial paper	$	4,995	$	—	$	—	$	4,995
Total available-for-sale marketable debt securities	$	4,995	$	—	$	—	$	4,995

The following table presents the proceeds from maturities and sales of available-for-sale marketable debt securities:



	March 31,
	2018		2017
	(In thousands)
Proceeds from maturities and sales of available-for-sale marketable debt securities	$	5,000	$	75,350

The specific-identification method is used to determine the cost of available-for-sale marketable debt securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings. There were no gross realized gains or losses from the maturities and sales of available-for-sale marketable debt securities for the three months ended March 31, 2018 and 2017.