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Cash Equivalents and Investments | 3 Months Ended
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Mar. 31, 2020
Cash and Cash Equivalents [Abstract] |
Cash Equivalents and Investments | Cash Equivalents and Investments Marketable debt securities held by the Company are classified as available-for-sale and carried at fair value in the accompanying consolidated balance sheets on a settlement date basis. The following tables summarize the gross unrealized gains and losses of the Company’s marketable securities as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |  |
|  | Gross Unrealized |  | Estimated Fair Value
|  | Amortized Cost |  | Gains |  | Losses |  | Credit Losses |
Money market funds |  | $ | 32,089 |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 32,089 |
Commercial paper |  | 7,061 |  |  | — |  |  | — |  |  | — |  |  | 7,061 |
Corporate notes |  | 14,466 |  |  | — |  |  | (44 | ) |  | — |  |  | 14,422 |
U.S. government securities |  | 7,786 |  |  | 103 |  |  | — |  |  | — |  |  | 7,889 |
U.S. asset-backed securities |  | 8,303 |  |  | 3 |  |  | — |  |  | — |  |  | 8,306 |
|  | $ | 69,705 |  |  | $ | 106 |  |  | $ | (44 | ) |  | $ | — |  |  | $ | 69,767 |
Classified as: |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  | $ | 32,090 |
Short term investments |  |  |  |  |  |  |  |  |  | 35,957 |
Long term investments |  |  |  |  |  |  |  |  |  | 1,720 |
|  |  |  |  |  |  |  | $ | 69,767 |
|  | December 31, 2019 |  |
|  | Gross Unrealized |  | Estimated Fair Value
(In thousands) |  | Amortized Cost |  | Gains |  | Losses |
Money market funds |  | $ | 5,381 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,381 |
Commercial paper |  | 11,892 |  |  | — |  |  | — |  |  | 11,892 |
Corporate notes |  | 18,369 |  |  | 11 |  |  | — |  |  | 18,380 |
U.S. government securities |  | 11,291 |  |  | 4 |  |  | — |  |  | 11,295 |
U.S. asset-backed securities |  | 10,503 |  |  | 6 |  |  | — |  |  | 10,509 |
|  | $ | 57,436 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 57,457 |
Classified as: |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  | $ | 5,381 |
Short-term investments |  |  |  |  |  |  |  | 42,829 |
Long term investments |  |  |  |  |  |  |  | 9,247 |
|  |  |  |  |  | $ | 57,457 |
There were no marketable securities that the Company considers to be other-than-temporarily impaired as of March 31, 2020 and December 31, 2019. The Company's investment strategy is to buy short-duration marketable securities with a high credit rating. As of March 31, 2020, all marketable securities held by the Company had remaining contractual maturities of three years or less. If any adjustment to fair value reflects a decline in the value of the investment, the Company considers all available evidence to evaluate the extent to which the decline is “other than temporary,” including the Company’s intention to sell and, if so, mark the investment to market through a charge to our consolidated statement of operations. Upon adoption of ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), the Company evaluated its investments for impairment under the new framework. Any allowance for credit losses are recorded at the lower of either the fair market value less book value or the difference between the present value of future cash flows and the book value. As of March 31, 2020, the analysis under ASU 2016-13 and the current macroeconomic impact of the COVID-19 pandemic did not result in material allowances for credit losses. There have been no impairments of the Company’s assets measured and carried at fair value for the three months ended March 31, 2020.

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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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