XML 78 R12.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Investments in Marketable Securities | 12 Months Ended
--- | ---
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Investments in Marketable Securities |
5. | Investments in Marketable Securities
Amortized cost and fair value of marketable securities, available-for-sale, by type of security consisted of the following (in thousands):
|  | December 31, 2019 |  |  | December 31, 2018 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 124,389 |  |  | $ | 196 |  |  | $ | (5 | ) |  | $ | 124,580 |  |  | $ | 121,252 |  |  | $ | 7 |  |  | $ | (79 | ) |  | $ | 121,180 |
U.S. government sponsored entities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,512 |  |  |  | — |  |  |  | (7 | ) |  |  | 3,505 |
Corporate debt |  |  | 26,128 |  |  |  | 44 |  |  |  | — |  |  |  | 26,172 |  |  |  | 11,962 |  |  |  | — |  |  |  | (11 | ) |  |  | 11,951 |
ABS and other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 806 |  |  |  | — |  |  |  | (6 | ) |  |  | 800 |
|  | $ | 150,517 |  |  | $ | 240 |  |  | $ | (5 | ) |  | $ | 150,752 |  |  | $ | 137,532 |  |  | $ | 7 |  |  | $ | (103 | ) |  | $ | 137,436 |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 24,188 |  |  | $ | 235 |  |  | $ | — |  |  | $ | 24,423 |  |  | $ | 44,997 |  |  | $ | 128 |  |  | $ | (115 | ) |  | $ | 45,010 |
U.S. government sponsored entities |  |  | 1,353 |  |  |  | 3 |  |  |  | (1 | ) |  |  | 1,355 |  |  |  | 1,569 |  |  |  | — |  |  |  | (62 | ) |  |  | 1,507 |
Corporate debt |  |  | 25,447 |  |  |  | 1,027 |  |  |  | (3 | ) |  |  | 26,471 |  |  |  | 32,467 |  |  |  | 3 |  |  |  | (633 | ) |  |  | 31,837 |
ABS and other |  |  | 8,480 |  |  |  | 93 |  |  |  | (13 | ) |  |  | 8,560 |  |  |  | 4,889 |  |  |  | 12 |  |  |  | (46 | ) |  |  | 4,855 |
|  | $ | 59,468 |  |  | $ | 1,358 |  |  | $ | (17 | ) |  | $ | 60,809 |  |  | $ | 83,922 |  |  | $ | 143 |  |  | $ | (856 | ) |  | $ | 83,209 |
The amortized cost and fair value of the Company’s investments in available-for-sale securities that have been in a continuous unrealized loss position consisted of the following (in thousands):
|  | December 31, 2019 |  |  | December 31, 2018 |
|  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |
Less than 12 months |  | $ | (21 | ) |  | $ | 47,823 |  |  | $ | (576 | ) |  | $ | 127,326 |
12 months or longer |  | $ | (1 | ) |  | $ | 566 |  |  | $ | (383 | ) |  | $ | 30,609 |
Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale securities consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Gross realized gains (1) |  | $ | 134 |  |  | $ | 12 |  |  | $ | 2 |
Gross realized losses (1) |  | $ | (47 | ) |  | $ | (2 | ) |  | $ | — |
(1) | Recorded in other income (expense), net in the consolidated statements of net and comprehensive income. The cost basis of securities sold were determined based on the specific identification method.
As of December 31, 2019, the Company considered the declines in market value of its marketable securities, available-for-sale to be temporary in nature and does not consider any of its investments other-than-temporarily impaired. The Company has no current intent to sell and it is not more likely than not that the Company will be required to sell these investments before recovery of their amortized cost basis, which may be at maturity. The Company may sell certain of its marketable securities, available-for-sale prior to their stated maturities for strategic reasons including, but not limited to, anticipated liquidity and capital requirements, anticipated credit deterioration, duration management or when a security no longer meets the criteria of the Company’s investment policy. Amortized cost and fair value of marketable securities, available-for-sale, by contractual maturity consisted of the following (in thousands, except weighted average data):
|  | December 31, 2019 |  |  | December 31, 2018 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 150,517 |  |  | $ | 150,752 |  |  | $ | 137,532 |  |  | $ | 137,436 |
Due after one year through five years |  |  | 41,123 |  |  |  | 41,794 |  |  |  | 61,875 |  |  |  | 61,846 |
Due after five years through ten years |  |  | 12,813 |  |  |  | 13,467 |  |  |  | 17,310 |  |  |  | 16,747 |
Due after ten years |  |  | 5,532 |  |  |  | 5,548 |  |  |  | 4,737 |  |  |  | 4,616 |
|  | $ | 209,985 |  |  | $ | 211,561 |  |  | $ | 221,454 |  |  | $ | 220,645 |
Weighted average contractual maturity |  |  | 1.7 years |  |  |  |  |  |  |  | 1.8 years |  |  |  |  |
Actual maturities may differ from contractual maturities because certain issuers have the right to prepay certain obligations with or without prepayment penalties.

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

X
- 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
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration