XML 24 R13.htm IDEA: XBRL DOCUMENT v3.21.2

Investments

6 Months Ended

Jun. 30, 2021

Investments

Investments

3. Investments

At June 30, 2021 and December 31, 2020, the Company had investments of $3,006 and $10,840, respectively, classified as trading. The trading investments are held in municipal and corporate securities as of June 30, 2021 and December 31, 2020 and are due in one year or less as of June 30, 2021. The cash flows of municipal securities are backed by the issuing municipality’s credit-worthiness.

At June 30, 2021, the Company had available-for-sale investments of $41,409, comprised of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2021

​

​

​

Gross

Gross

Estimated

​

​

Adjusted

​

Unrealized

​

Unrealized

​

Fair

​

​

Cost

​

Gains

​

(Losses)

​

Value

Corporate bonds

​

$

34,344

​

$

41

​

$

(281)

​

$

34,104

Commercial paper

​

​

3,997

​

​

—

​

​

—

​

​

3,997

Municipal securities

​

​

2,108

​

​

—

​

​

—

​

​

2,108

Asset backed securities

​

​

1,202

​

​

—

​

​

(2)

​

​

1,200

Total investments

​

$

41,651

​

$

41

​

$

(283)

​

$

41,409

​

For the six months ended June 30, 2021, the net unrealized gains or (losses) were $185, net of taxes. Available-for-sale debt securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime

expected credit losses for all available-for sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our consolidated income statements. As of June 30, 2021, there were no credit losses for our available-for-sale debt securities.

​

​	​	​	​
Available-for-sale securities maturing as of December 31:	​	​	​
2021 (Remainder of year)	​	$	6,105
2022	​	​	3,674
2023	​	​	9,225
2024	​	​	10,724
2025	​	​	1,052
Thereafter	​	​	10,629
Total	​	$	41,409

​

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

+ Details

Name:	us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration