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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Investments

Investments consist of the following as of June 30, 2019 and December 31, 2018 (dollars in thousands):

		June 30, 2019
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Municipal bonds		$	628			$	1			$	-			$	629
Non-governmental debt securities			212,175				420				(28	)			212,567
Treasury and federal agencies			15,606				6				(13	)			15,599
Total short-term investments (available for sale)		$	228,409			$	427			$	(41	)		$	228,795

		December 31, 2018
						Gross Unrealized
		Cost				Gain				(Loss)				Fair Value
Short-term investments (available for sale):
Non-governmental debt securities		$	179,393			$	35			$	(337	)		$	179,091
Treasury and federal agencies			17,417				5				(85	)			17,337
Total short-term investments (available for sale)		$	196,810			$	40			$	(422	)		$	196,428

Investments Measured at Fair Value on Recurring Basis

Investments measured at fair value on a recurring basis subject to the disclosure requirements of FASB ASC Topic 820 – Fair Value Measurements at June 30, 2019 and December 31, 2018 were as follows (dollars in thousands):

		As of  June 30, 2019
		Level 1				Level 2				Level 3				Total
Municipal bonds		$	-			$	629			$	-			$	629
Non-governmental debt securities			20,000				192,567				-				212,567
Treasury and federal agencies			-				15,599				-				15,599
Totals		$	20,000			$	208,795			$	-			$	228,795
		As of  December 31, 2018
		Level 1				Level 2				Level 3				Total
Non-governmental debt securities		$	20,000			$	159,091			$	-			$	179,091
Treasury and federal agencies			-				17,337				-				17,337
Totals		$	20,000			$	176,428			$	-			$	196,428

Schedule of Maintenance Fee Payment to CCKF

We make periodic operating maintenance payments related to proprietary rights that we use in our intellipath^® personalized learning technology. The total fees paid to CCKF for the quarters and years to date ended June 30, 2019 and 2018 were as follows (dollars in thousands):

	Maintenance Fee Payments
For the quarter ended June 30, 2019	$	359
For the quarter ended June 30, 2018	$	377
For the year to date ended June 30, 2019	$	707
For the year to date ended June 30, 2018	$	753

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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