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Short-Term Investments

12 Months Ended

Dec. 31, 2021

5. Short-Term Investments

The following tables summarize the short-term investments held at December 31, 2021 and 2020 (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
December 31, 2021
Reverse repurchase agreements	$	39,000	$	—	$	—	$	39,000
Total	$	39,000	$	—	$	—	$	39,000


			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
December 31, 2020
Reverse repurchase agreements	$	20,000	$	—	$	—	$	20,000
Total	$	20,000	$	—	$	—	$	20,000

The contractual maturities of all short-term investments held at December 31, 2021 and 2020 were one year or less. There were no short-term investments in an unrealized loss position at December 31, 2021 and 2020.

Gross realized gains and losses on the sales of short-term investments are included in other income, net. Unrealized holding gains or losses for the period that have been included in accumulated other comprehensive income, as well as gains and losses reclassified out of accumulated other comprehensive income into other income, net were not material to the Company’s consolidated results of operations.

During the years ended December 31, 2021 and 2020 all proceeds included in the Company’s cash flows related to maturities of underlying securities. The gains on proceeds of maturities of short-term investments were not material to the Company’s consolidated results of operations for the years ended December 31, 2021 and 2020.