CASH, CASH EQUIVALENTS AND INVESTMENTS

12 Months Ended

Dec. 31, 2021

Cash and Cash Equivalents [Abstract]

CASH, CASH EQUIVALENTS AND INVESTMENTS:

The Company’s portfolio of fixed income securities consists of term bank certificates of deposit, U.S. Government bonds and corporate bonds. The Company considers all highly liquid debt instruments purchased with an original maturity (maturity at the purchase date) 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.

Cash and Cash Equivalents

The following table provides details regarding the Company’s portfolio of cash and cash equivalents (in thousands):


	Amortized		Unrealized					Aggregate Fair
Cash and Cash Equivalents Classification	Cost		Gains		(Losses)			Market Value
December 31, 2021
Cash accounts in banking institutions	$	256,878	$	—	$	—		$	256,878
Money market accounts		55,115		—		—			55,115
	$	311,993	$	—	$	—		$	311,993
December 31, 2020
Cash accounts in banking institutions	$	163,779	$	—	$	—		$	163,779
Money market accounts		17,261		—		—			17,261
U.S. Government bonds		448,970		6		(4	)		448,972
	$	630,010	$	6	$	(4	)	$	630,012

Short-term Investments

The following table provides details regarding the Company’s portfolio of short-term investments (in thousands):


	Amortized		Unrealized					Aggregate Fair
Short-term Investments Classification	Cost		Gains		(Losses)			Market Value
December 31, 2021
Certificates of deposit	$	240	$	—	$	—		$	240
Corporate bonds		226,448		3		(97	)		226,354
U.S. Government bonds		124,611		—		(11	)		124,600
	$	351,299	$	3	$	(108	)	$	351,194
December 31, 2020
U.S. Government bonds		99,929		67		—			99,996
	$	99,929	$	67	$	—		$	99,996

Long-term U.S. Government Bonds Investments

The following table provides details regarding the Company’s portfolio of long-term investments (in thousands):


	Amortized		Unrealized					Aggregate Fair
Long-term Investments Classification	Cost		Gains		(Losses)			Market Value
December 31, 2021
U.S. Government bonds	$	159,692	$	10	$	(134	)	$	159,568
	$	159,692	$	10	$	(134	)	$	159,568

The Company did not have any long-term investments classified as U.S. Government bonds as of December 31, 2020.

Long-term Minority Investments

The Company’s portfolio of minority investments consists of investments in privately held early-stage companies primarily motivated to gain early access to new technology and are passive in nature in that the Company does not obtain representation on the boards of directors of the companies in which it invests. Minority investments are included in investments on the Consolidated Balance Sheets. As of December 31, 2021, the Company had two minority investments with a total carrying value of $8.5 million accounted for as equity securities without readily determinable fair values.