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Investment Securities | 12 Months Ended
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Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Investment Securities |
7. | Investment Securities
The Company’s investment securities as of December 31, 2020 and 2019, are presented below:
(In thousands) | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value(a)
2020 |  |  |  |  |  |  |
Fixed income securities: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 133 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 138 |
Asset-backed securities | 211 |  |  | — |  |  | 1 |  |  | 210 |
Municipal bonds | 195 |  |  | 2 |  |  | — |  |  | 197 |
Mutual fund | 27,680 |  |  | 48 |  |  | — |  |  | 27,728 |
Pooled investment fund | 9,000 |  |  | — |  |  | — |  |  | 9,000 |
Total investment securities(b)(c) | $ | 37,219 |  |  | $ | 55 |  |  | $ | 1 |  |  | $ | 37,273 |
2019 |  |  |  |  |  |  |
Fixed income securities: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 164 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 174 |
Asset-backed securities | 248 |  |  | — |  |  | 1 |  |  | 247 |
Municipal bonds | 306 |  |  | — |  |  | 4 |  |  | 302 |
Mutual fund | 25,221 |  |  | — |  |  | 484 |  |  | 24,737 |
Pooled investment fund | 5,000 |  |  | — |  |  | — |  |  | 5,000 |
Total investment securities(b)(c) | $ | 30,939 |  |  | $ | 10 |  |  | $ | 489 |  |  | $ | 30,460 |
(a) The Company’s techniques used to measure the fair value of its investments are discussed in Note 19, Fair Value. (b) The Company’s investment securities are not deemed available for current operations and have been classified as non-current on the consolidated balance sheets. (c)Excludes $9.6 million and $8.0 million in equity securities designated as trading as of December 31, 2020 and 2019, respectively, included in prepaid expenses and other current assets and other assets on the consolidated balance sheets. See Note 18, Employee Benefit Plans, for additional information. The Company reviews its investments to identify and evaluate indications of possible impairment. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. Substantially all of the Company’s fixed income securities are rated investment grade or better. The Company’s fixed-income mutual fund and certain other insignificant fixed income security positions have been in an unrealized loss position for greater than 12 months as of December 31, 2020 and 2019. The amount by which these investment securities have been in a continuous unrealized loss position is insignificant. The Company’s management has determined that these gross unrealized losses at December 31, 2020 and 2019 are temporary in nature. The Company had insignificant maturities of investment securities during the years ended December 31, 2020, 2019 and 2018, respectively. The contractual maturity dates of the Company’s investment securities are as follows:
| December 31,
| 2020 |  | 2019
(In thousands) | Cost |  | Fair Value |  | Cost |  | Fair Value
Due after 5 years through year 10 | $ | 236 |  |  | $ | 236 |  |  | $ | 278 |  |  | $ | 277 |
Due after 10 years | 170 |  |  | 171 |  |  | 276 |  |  | 272 |
Mortgage-backed securities with original maturities of 30 years | 133 |  |  | 138 |  |  | 164 |  |  | 174 |
Investment securities with no maturity dates | 36,680 |  |  | 36,728 |  |  | 30,221 |  |  | 29,737 |
Total | $ | 37,219 |  |  | $ | 37,273 |  |  | $ | 30,939 |  |  | $ | 30,460 |

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- 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
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