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v3.21.1

Investments | 3 Months Ended
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Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Our investments, which are all classified as available-for-sale, consisted of the following:
|  | As of March 31, 2021
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
U.S. government agencies |  | 55,388 |  |  | 5 |  |  | — |  |  | 55,393 |
Commercial paper |  | 27,676 |  |  | — |  |  | — |  |  | 27,676 |
Corporate bonds |  | 27,648 |  |  | 16 |  |  | (7) |  |  | 27,657 |
Asset-backed securities |  | 2,403 |  |  | — |  |  | — |  |  | 2,403 |
Total |  | $ | 113,115 |  |  | $ | 21 |  |  | $ | (7) |  |  | $ | 113,129 |
|  | As of December 31, 2020
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 83,596 |  |  | $ | 3 |  |  | $ | (12) |  |  | $ | 83,587 |
Corporate bonds |  | 24,162 |  |  | 31 |  |  | (1) |  |  | 24,192 |
Commercial paper |  | 34,766 |  |  | — |  |  | — |  |  | 34,766 |
Agency bonds |  | 3,998 |  |  | 1 |  |  | — |  |  | 3,999 |
Asset-backed securities |  | 2,419 |  |  | — |  |  | — |  |  | 2,419 |
Total |  | $ | 148,941 |  |  | $ | 35 |  |  | $ | (13) |  |  | $ | 148,963 |
As of March 31, 2021, our available-for-sale investments had maturities ranging from 1 to 13 months. As of December 31, 2020, our available-for-sale investments had maturities ranging from 1 to 19 months. For all of our investments for which the amortized cost basis was greater than the fair value at March 31, 2021 and December 31, 2020, we have concluded that there is no plan to sell the security nor is it more likely than not that we would be required to sell the security before its anticipated maturity. In making the determination as to whether the unrealized loss is other-than-temporary, we considered the length of time and extent the investment has been in an unrealized loss position, the financial condition and near-term prospects of the issuers, the issuers’ credit rating and the time to maturity.

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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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