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Marketable Securities | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities The Company has investments in available-for-sale debt securities which are recorded at fair market value. The change in the fair value of available-for-sale debt investments is recorded as accumulated other comprehensive loss in shareholders’ (deficit) equity, net of income tax effects. As of September 30, 2022, the Company considered any decreases in fair value on its marketable securities to be driven by factors other than credit risk, including market risk. The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of September 30, 2022 and December 31, 2021, respectively:
|  | September 30, 2022
Marketable Securities: |  | Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mutual and money market funds |  | $ | 32,922 |  |  | $ | 220 |  |  | $ | (1,661) |  |  | $ | 31,481 |
Corporate bonds |  | 9,885 |  |  | — |  |  | (707) |  |  | 9,178 |
Government securities - U.S. |  | 3,827 |  |  | — |  |  | (369) |  |  | 3,458 |
Other fixed-income securities |  | 1,691 |  |  | — |  |  | (48) |  |  | 1,643 |
Total |  | $ | 48,325 |  |  | $ | 220 |  |  | $ | (2,785) |  |  | $ | 45,760 |
|  | December 31, 2021
Marketable Securities: |  | Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mutual and money market funds |  | $ | 78,331 |  |  | $ | 813 |  |  | $ | (1,046) |  |  | $ | 78,098 |
Corporate bonds |  | 16,478 |  |  | 94 |  |  | (93) |  |  | 16,479 |
Government securities - U.S. |  | 9,530 |  |  | 39 |  |  | (98) |  |  | 9,471 |
Other fixed-income securities |  | 2,473 |  |  | 2 |  |  | (10) |  |  | 2,465 |
Total |  | $ | 106,812 |  |  | $ | 948 |  |  | $ | (1,247) |  |  | $ | 106,513 |
The Company determines realized gains or losses on the sale of marketable securities on a specific identification method. The Company reflects these gains and losses as a component of investment and other income, net in the accompanying unaudited condensed consolidated statements of loss. The Company recognized gross realized gains of $64 and $22 for the three months ended September 30, 2022 and 2021, respectively. These realized gains were offset by gross realized losses of $61 and $66 for the three months ended September 30, 2022 and 2021, respectively. We recognized gross realized gains of $372 and $74 for the nine months ended September 30, 2022 and 2021, respectively. These realized gains were offset by gross realized losses of $1,092 and $173 for the nine months ended September 30, 2022 and 2021, respectively. The following table summarizes the estimated fair value of the Company’s investments in marketable debt securities, accounted for as available-for-sale debt securities and classified by the contractual maturity date of the securities as of September 30, 2022:
|  | Maturities
Marketable Debt Securities: |  | Less than 1 Year |  | 1-5 Years |  | 5-10 Years |  | Greater than 10 Years |  | Total
Corporate bonds |  | $ | 1,602 |  |  | $ | 7,576 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,178 |
Government securities - U.S. |  | — |  |  | 1,992 |  |  | 600 |  |  | 866 |  |  | 3,458 |
Other fixed-income securities |  | — |  |  | 1,451 |  |  | 192 |  |  | — |  |  | 1,643 |
Total |  | $ | 1,602 |  |  | $ | 11,019 |  |  | $ | 792 |  |  | $ | 866 |  |  | $ | 14,279 |
The Company has classified its investment in available-for-sale marketable debt securities as current assets in the consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in the Company’s investment portfolio. The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale debt securities at September 30, 2022. The unrealized losses in the table below are driven by factors other than credit risk. The Company does not intend to sell the investments and it is not more likely than not that it will be required to sell the investments before recovery of their amortized cost bases.
|  | Less than 12 months |  | Greater than 12 months |  | Total
Marketable Debt Securities: |  | Fair value |  | Unrealized Losses |  | Fair value |  | Unrealized Losses |  | Fair value |  | Unrealized Losses
Corporate bonds |  | $ | 6,264 |  |  | $ | 440 |  |  | $ | 2,914 |  |  | $ | 267 |  |  | $ | 9,178 |  |  | $ | 707 |
Government securities - U.S. |  | 1,042 |  |  | 63 |  |  | 2,416 |  |  | 306 |  |  | 3,458 |  |  | 369 |
Other fixed-income securities |  | 1,065 |  |  | 17 |  |  | 578 |  |  | 31 |  |  | 1,643 |  |  | 48 |
Total |  | $ | 8,371 |  |  | $ | 520 |  |  | $ | 5,908 |  |  | $ | 604 |  |  | $ | 14,279 |  |  | $ | 1,124 |

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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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