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Marketable Securities
9 Months Ended
Sep. 30, 2019
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

7. MARKETABLE SECURITIES

At September 30, 2019 and December 31, 2018, the fair value of marketable securities, which were all classified as available for sale, included the following (in thousands):

 

 

 

September 30, 2019

 

 

 

Adjusted

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

34,905

 

 

$

11

 

 

$

(4

)

 

$

34,912

 

Government-sponsored enterprise debt securities

 

 

3,811

 

 

 

1

 

 

 

 

 

 

3,812

 

Total

 

$

38,716

 

 

$

12

 

 

$

(4

)

 

$

38,724

 

 

 

 

December 31, 2018

 

 

 

Adjusted

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

31,521

 

 

$

 

 

$

(23

)

 

$

31,498

 

Government-sponsored enterprise debt securities

 

 

2,999

 

 

 

 

 

 

 

 

 

2,999

 

Total

 

$

34,520

 

 

$

 

 

$

(23

)

 

$

34,497

 

 

The carrying amounts reported in the Condensed Consolidated Balance Sheets approximate the fair value based on quoted market prices or alternative pricing sources and models utilizing market observable inputs. As of September 30, 2019, the Company does not consider any of its marketable securities to be other than temporarily impaired. During the three and nine months ended September 30, 2019 and 2018, the Company did not reclassify any items out of accumulated other comprehensive (loss) income to net income. All investments in marketable securities are classified as current assets on the balance sheet because the underlying securities mature within one year from the balance sheet date.