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AVAILABLE-FOR-SALE INVESTMENTS
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
AVAILABLE-FOR-SALE INVESTMENTS AVAILABLE-FOR-SALE INVESTMENTS
The Company classifies its investments in debt securities as available-for-sale. Debt securities are comprised of highly liquid investments with minimum “A” rated securities and, as of December 31, 2022, consist of corporate entity commercial paper and securities and municipal bonds. The debt securities are reported at fair value with unrealized gains or losses recorded in accumulated other comprehensive income in the consolidated balance sheets. Refer to Note 12, "Fair Value of Financial Instruments," for information related to the fair value measurements and valuation methods utilized.
The following table represents the Company’s available-for-sale investments by major security type as of December 31, 2022 and December 31, 2021 (in thousands):
December 31, 2022
Amortized CostGross Unrealized GainsGross Unrealized LossesTotal Fair Value
Commercial Paper$32,997 $— $(241)$32,756 
Corporate Bonds58,791 — (349)58,442 
Municipal Bonds7,446 — (52)7,394 
Total$99,234 $— $(642)$98,592 
December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesTotal Fair Value
Commercial Paper$76,961 $— $(31)$76,930 
Corporate Bonds84,771 — (183)84,588 
Municipal Bonds5,870 — (23)5,847 
Total$167,602 $— $(237)$167,365 
The following table summarizes the fair value and amortized cost bases of the Company’s available-for-sale investments by contractual maturity of December 31, 2022 and December 31, 2021 (in thousands):
December 31, 2022December 31, 2021
Amortized CostFair ValueAmortized CostFair Value
Due within one year
$92,253 $91,669 $117,164 $117,100 
Due after one year through 5 years
6,981 6,923 50,438 50,265 
Total$99,234 $98,592 $167,602 $167,365 
Debt securities as of December 31, 2022 had an average remaining maturity of 0.43 years.
The Company reviews available-for-sale investments for other-than-temporary impairment loss periodically. The Company considers factors such as the duration, severity and the reason for the decline in value, the potential recovery period and our intent to sell. For debt securities, we also consider whether (i) it is more likely than not
that the Company will be required to sell the debt securities before recovery of their amortized cost basis and (ii) the amortized cost basis cannot be recovered as a result of credit losses. During the years ended December 31, 2022 and 2021, the Company did not recognize any other-than-temporary impairment losses. All marketable securities with unrealized losses have been in a loss position for less than twelve months, and the Company does not anticipate any material losses upon maturity of these investments. The fair value for fixed-rate debt securities is based on quoted market prices for the same or similar debt instruments and is classified as Level 2. The fair value for the Company's other securities holdings, primarily under commercial paper, equals the carrying value and is classified as Level 2.