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CASH, CASH EQUIVALENTS AND INVESTMENTS

9 Months Ended

Sep. 30, 2018

Cash And Cash Equivalents [Abstract]

CASH, CASH EQUIVALENTS AND INVESTMENTS

3. 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 debt security investments as available-for-sale. These debt 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 September 30, 2018 and December 31, 2017 consisted of the following (in thousands):

		Amortized				Unrealized								Aggregate Fair
Investment Classification		Cost				Gains				(Losses)				Market Value
September 30, 2018
Certificates of deposit		$	400			$	—			$	—			$	400
Corporate bonds			188,832				4				(45	)			188,791
U.S. Government securities			225,824				1				(76	)			225,749
		$	415,056			$	5			$	(121	)		$	414,940
December 31, 2017
Certificates of deposit		$	1,296			$	1			$	(1	)		$	1,296
Corporate bonds			104,626				—				(252	)			104,374
U.S. Government securities			214,641				—				(139	)			214,502
		$	320,563			$	1			$	(392	)		$	320,172

As of September 30, 2018, there was $23.0 million of U.S. government securities and as of December 31, 2017, there was $17.9 million of corporate bonds included in cash equivalents in the consolidated balance sheets.

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- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 305
-URI http://asc.fasb.org/topic&trid=2122426

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