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CASH, CASH EQUIVALENTS AND INVESTMENTS
 12 Months Ended
Dec. 31, 2017
Cash And Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND INVESTMENTS

4.

CASH, CASH EQUIVALENTS AND INVESTMENTS:

The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. The Company classifies its remaining investments as available-for-sale. These securities are carried at fair market value, with unrealized gains and losses reported in shareholders’ equity. Gains or losses on securities sold are based on the specific identification method. Investments as of December 31, 2017 and December 31, 2016 consisted of the following (in thousands):

 

 

 

Amortized

 

 

Unrealized

 

 

Aggregate Fair

 

Investment Classification

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

1,296

 

 

$

1

 

 

$

(1

)

 

$

1,296

 

Corporate bonds

 

 

104,626

 

 

 

—

 

 

 

(252

)

 

 

104,374

 

U.S. Government bonds

 

 

214,641

 

 

 

—

 

 

 

(139

)

 

 

214,502

 

 

 

$

320,563

 

 

$

1

 

 

$

(392

)

 

$

320,172

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

3,362

 

 

$

3

 

 

$

—

 

 

$

3,365

 

Money market instruments

 

 

2,998

 

 

 

—

 

 

 

(2

)

 

 

2,996

 

Corporate bonds

 

 

209,595

 

 

 

6

 

 

 

(377

)

 

 

209,224

 

U.S. Government bonds

 

 

32,996

 

 

 

1

 

 

 

(3

)

 

 

32,994

 

 

 

$

248,951

 

 

$

10

 

 

$

(382

)

 

$

248,579

 

 

As of December 31, 2017 and 2016, corporate bonds of $17.9 million and $15.0 million, respectively, and U.S. government bonds of none and $30.0 million, respectively, were included in cash equivalents on the consolidated balance sheet.