XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.21.1

Note 7 - Marketable Securities | 3 Months Ended
--- | ---
Mar. 31, 2021
Notes to Financial Statements |
Investment [Text Block] | Note 7 – Marketable Securities The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. As of March 31, 2021 the securities are categorized as available-for-sale and are recorded at fair value. As of December 31, 2020, the securities were categorized as held-to-maturity and were recorded at amortized cost, net of an allowance for credit losses. The change in categorization was a result of the sale of securities in the first quarter of 2021 in order to partially fund the acquisition of 3D Hubs and did not have a material impact on our financial statements. The following table summarizes information regarding the Company’s short-term and long-term marketable securities as of March 31, 2021 and December 31, 2020:
|  | March 31, 2021 |
(in thousands) |  | Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. municipal securities |  | $ | 19,281 |  |  | $ | 51 |  |  | $ | (5 | ) |  | $ | 19,327 |
Corporate debt securities |  |  | 20,010 |  |  |  | 78 |  |  |  | (30 | ) |  |  | 20,058 |
U.S. government agency securities |  |  | 3,500 |  |  |  | 1 |  |  |  | (2 | ) |  |  | 3,499 |
Certificates of deposit/time deposits |  |  | 5,395 |  |  |  | 73 |  |  |  | - |  |  |  | 5,468 |
Commercial paper |  |  | 1,000 |  |  |  | - |  |  |  | - |  |  |  | 1,000 |
Total marketable securities |  | $ | 49,186 |  |  | $ | 203 |  |  | $ | (37 | ) |  | $ | 49,352 |
|  | December 31, 2020 |
(in thousands) |  | Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. municipal securities |  | $ | 25,003 |  |  | $ | 83 |  |  | $ | (2 | ) |  | $ | 25,084 |
Corporate debt securities |  |  | 42,048 |  |  |  | 211 |  |  |  | (11 | ) |  |  | 42,248 |
U.S. government agency securities |  |  | 18,500 |  |  |  | 6 |  |  |  | (10 | ) |  |  | 18,496 |
Certificates of deposit/time deposits |  |  | 5,395 |  |  |  | 93 |  |  |  | - |  |  |  | 5,488 |
Commercial paper |  |  | 2,499 |  |  |  | - |  |  |  | - |  |  |  | 2,499 |
Total marketable securities |  | $ | 93,445 |  |  | $ | 393 |  |  | $ | (23 | ) |  | $ | 93,815 |
Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1). Fair values for the U.S. municipal securities, U.S. government agency securities, certificates of deposit and U.S. treasury securities are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2). During the first quarter of 2020, the Company adopted the FASB ASU 2016-13, Financial Instruments – Credit Losses. The Company calculated the expected credit loss for each security in its portfolio using the probability-of-default method. The Company concluded the adoption of the guidance had no material impact on its consolidated financial statements. Classification of marketable securities as current or non-current is based upon the security’s maturity date as of the date of these financial statements. The March 31, 2021 balance of available-for-sale debt securities by contractual maturity is shown in the following table at fair value. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
|  | March 31, |
(in thousands) |  | 2021 |
Due in one year or less |  | $ | 19,592 |
Due after one year through five years |  |  | 29,760 |
Total marketable securities |  | $ | 49,352 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_InvestmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration