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Marketable Securities

12 Months Ended

Dec. 31, 2018

Marketable Securities

Marketable Securities

3. Marketable Securities

The Company’s marketable debt securities held as of December 31, 2018 and 2017 are summarized below:

		December 31, 2018
					Gross			Gross
		Amortized			Unrealized			Unrealized
		Cost			Gains			Losses			Fair Value
(in thousands)
Money Market Funds		$	18,270		$	—		$	—		$	18,270
Corporate Securities			105,311			1			(345)			104,967
Government Securities			399,873			187			(804)			399,256
		$	523,454		$	188		$	(1,149)		$	522,493
Reported as
Cash and cash equivalents											$	18,270
Marketable securities												504,223
Total investments											$	522,493
		December 31, 2017
					Gross			Gross
		Amortized			Unrealized			Unrealized
		Cost			Gains			Losses			Fair Value
(in thousands)
Money Market Funds		$	5,175		$	—		$	—		$	5,175
Corporate Securities			123,860			—			(590)			123,270
Government Securities			224,739			—			(1,209)			223,530
		$	353,774		$	—		$	(1,799)		$	351,975
Reported as
Cash and cash equivalents											$	5,175
Marketable securities												346,800
Total investments											$	351,975

The maturities of the Company’s marketable debt securities as of December 31, 2018 are as follows:

		Amortized			Estimated
		Cost			Fair Value
(in thousands)
Mature in one year or less		$	269,092		$	268,115
Mature after one year through five years			236,092			236,108
		$	505,184		$	504,223

The unrealized losses on available-for-sale investments and their related fair values as of December 31, 2018 and 2017 are as follows:

		December 31, 2018
		Less than 12 months						12 months or greater
			Fair value			Unrealized losses			Fair value			Unrealized gain (losses)
(in thousands)
Corporate Securities		$	84,770		$	(310)		$	20,198		$	(34)
Government Securities			183,345			(667)			215,910			50
		$	268,115		$	(977)		$	236,108		$	16
		December 31, 2017
		Less than 12 months						12 months or greater
			Fair value			Unrealized losses			Fair value			Unrealized losses
(in thousands)
Corporate Securities		$	79,290		$	(137)		$	43,980		$	(453)
Government Securities			128,313			(461)			95,217			(748)
		$	207,603		$	(598)		$	139,197		$	(1,201)

The unrealized losses from the listed securities are due to a change in the interest rate environment and not a change in the credit quality of the securities.

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

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No definition available.

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