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INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Available-for-sale Securities | Investments classified as available-for-sale consisted of the following:
| Amortized Cost |  | Gross Unrealized Gains (1) |  | Gross Unrealized Losses (1) |  | Aggregate Estimated Fair Value
December 31, 2019: |  |  |  |  |  |  |
Funds Held for Clients (2) |  |  |  |  |  |  |
Certificates of deposit | $ | 8,828 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 8,839 |
Corporate debt securities | 6,883 |  |  | 6 |  |  | (9 | ) |  | 6,880 |
Municipal bonds | 6,383 |  |  | 6 |  |  | (7 | ) |  | 6,382 |
US Government agency securities | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Asset-backed securities | 1,067 |  |  | — |  |  | (32 | ) |  | 1,035 |
Total | $ | 24,161 |  |  | $ | 23 |  |  | $ | (48 | ) |  | $ | 24,136 |
December 31, 2018: |  |  |  |  |  |  |
Funds Held for Clients (2) |  |  |  |  |  |  |
Corporate debt securities | $ | 4,334 |  |  | $ | 21 |  |  | $ | (99 | ) |  | $ | 4,256 |
(1) | Unrealized gains and losses on available-for-sale securities are included as a component of comprehensive loss. At December 31, 2019, there were 53 securities in an unrealized gain position and there were 18 securities in an unrealized loss position. These unrealized losses were less than $35 individually and $50 in the aggregate. These securities have not been in a continuous unrealized gain or loss position for more than 12 months. The Company does not intend to sell these investments 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 reviews its investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value.
(2) | At December 31, 2019 and 2018, none of these securities were classified as cash and cash equivalents on the Company’s balance sheet.
Expected Maturities of Available-for-sale Securities | Expected maturities of available-for-sale securities as of December 31, 2019 are as follows:
One year or less | $ | 6,414 |
After one year through five years | 17,681 |
After five years through 10 years | — |
After 10 years | 41 |
| $ | 24,136 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of December 31, 2019 and December 31, 2018, respectively:
|  |  | Fair Value Measure at December 31, 2019
| Total Carrying Value at December 31, 2019 |  | Quoted Prices in Active Market (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Funds held for clients |  |  |  |  |  |  |
Money market funds | 48,500 |  |  | 48,500 |  |  | — |  |  | — |
Available-for-sale securities | 24,136 |  |  | — |  |  | 24,136 |  |  | — |
Total | $ | 72,636 |  |  | $ | 48,500 |  |  | $ | 24,136 |  |  | $ | — |
|  |  | Fair Value Measure at December 31, 2018
| Total Carrying Value at December 31, 2018 |  | Quoted Prices in Active Market (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 8,111 |  |  | $ | 8,111 |  |  | $ | — |  |  | $ | — |
Funds held for clients |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities | 4,256 |  |  | — |  |  | 4,256 |  |  | — |
Total | $ | 12,367 |  |  | $ | 8,111 |  |  | $ | 4,256 |  |  | $ | — |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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