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Cash Equivalents and Investments | 9 Months Ended
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Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Cash Equivalents and Investments |
2. | Cash Equivalents and Investments:
As of September 30, 2019 and December 31, 2018, the Company’s cash equivalents consisted entirely of money market funds totaling $3.2 million and $0.5 million, respectively. Investments consisted of municipal debt securities, federal home loan securities , corporate securities, and certificates of deposit. During the nine months ended September 30, 2019, the Company changed the classification of its investments from held-to-maturity to available for sale. Although there is no stated expectation that the investments will be sold within one year, the investments are available for use, if needed, and accordingly are classified as short-term. Such investments are carried at fair value with any unrealized gains and losses reported as a component of other accumulated comprehensive income or loss. Prior to January 1, 2019, the Company classified its investments as held-to-maturity and carried such investments at amortized cost. Investments with remaining maturities of less than one year were classified as short-term and investments classified as long-term had maturities of one year to five years. Investments held at September 30, 2019 and December 31, 2018 are summarized as follows (in thousands):
|  | September 30, 2019 |  |  | December 31, 2018 |
|  | Short-Term |  |  | Long-Term |  |  | Short-Term |  |  | Long-Term |
Municipal debt securities |  | $ | 36,256 |  |  | $ | — |  |  | $ | 18,473 |  |  | $ | 30,841 |
Federal home loan securities |  |  | 23,825 |  |  |  | — |  |  |  | 2,000 |  |  |  | 34,393 |
Corporate securities |  |  | 13,823 |  |  |  | — |  |  |  | — |  |  |  | — |
Certificates of deposit |  |  | 4,467 |  |  |  | — |  |  |  | 1,450 |  |  |  | 4,465 |
|  | $ | 78,371 |  |  | $ | — |  |  | $ | 21,923 |  |  | $ | 69,699 |

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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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