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Investments | 12 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investments | 3. Investments The following is a summary of investments as of December 31, 2017 and 2016. The University considers all investments as available for sale.
|  | As of December 31, 2017 |
|  | Adjusted Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized (Losses) |  |  | Estimated Fair Value |
Municipal securities |  | $ | 84,768 |  |  | $ | — |  |  | $ | (409 | ) |  | $ | 84,359 |
Certificates of Deposit |  | $ | 4,915 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 4,912 |
Total investments |  | $ | 89,683 |  |  | $ | — |  |  | $ | (412 | ) |  | $ | 89,271 |
|  | As of December 31, 2016 |
|  | Adjusted Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized (Losses) |  |  | Estimated Fair Value |
Municipal securities |  | $ | 62,769 |  |  | $ | 12 |  |  | $ | (185 | ) |  | $ | 62,596 |
The cash flows of municipal securities are backed by the issuing municipality’s credit worthiness. All municipal securities and certificates of deposit are due in one year or less as of December 31, 2017. For the years ended December 31, 2017 and 2016, the net unrealized losses on available-for-sale securities were $255 and $430, net of taxes, respectively.

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- Definition The entire disclosure for cost method and equity method investments included basis, impairment losses, recognized or unrecognized gains (losses). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2197087 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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