Marketable Securities

3 Months Ended

Mar. 31, 2020

Marketable securities consist primarily of certificates of deposit and corporate bonds with maturities greater than three months and up to four years at the time of purchase. These securities, which are classified as available-for-sale, are carried at fair value, with unrealized gains and losses, net of any tax effect, reported in stockholders’ equity as accumulated other comprehensive income/(loss). Amortization of premiums and discounts is included in interest income. These securities are classified as current based upon their maturities. As of March 31, 2020, all bonds previously held by the Company reached maturity. For the three months ended March 31, 2020 and 2019, the amortization of bond premiums totaled $0 compared to $130. The value of these securities may fluctuate as a result of changes in market interest rates and credit risk. The schedule of maturities at March 31, 2020 and December 31, 2019 is as follows:


	Maturities as of March 31, 2020						Maturities as of December 31, 2019
	1 Year or Less		1 to 4 Years		1 Year or Less		1 to 4 Years

Certificates of deposit	$	34,271	$	—	$	40,521	$	—
Total	$	34,271	$	—	$	40,521	$	—

For the three months ended March 31, 2020, losses of $0 were reclassified from accumulated other comprehensive income and recognized in the Condensed Consolidated Statements of Income in interest and other income compared to losses of $5 for the comparable period in 2019. As of March 31, 2020, there were no unrealized gains or losses, as all bonds previously held by the Company reached maturity. For the comparable period in 2019, current marketable securities included unrealized losses of $35.