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Marketable Investments | 12 Months Ended
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Dec. 31, 2016
Investments Debt And Equity Securities [Abstract] |
Marketable Investments | (3) Marketable Investments The following table summarizes the Company’s marketable investments, all of which are classified as available-for-sale (in thousands):
|  | As of December 31, 2016 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Federal agency obligations |  | $ | 1,800 |  |  | $ | — |  |  | $ | (7 | ) |  | $ | 1,793 |
Corporate obligations |  |  | 59,481 |  |  |  | 2 |  |  |  | (129 | ) |  |  | 59,354 |
Total |  | $ | 61,281 |  |  | $ | 2 |  |  | $ | (136 | ) |  | $ | 61,147 |
|  | As of December 31, 2015 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate obligations |  | $ | 47,939 |  |  | $ | — |  |  | $ | (164 | ) |  | $ | 47,775 |
The following table summarizes the maturity periods of the marketable securities in the Company’s portfolio as of December 31, 2016.
|  | FY 2017 |  |  | FY 2018 |  |  | Total |
Federal agency obligations |  | $ | — |  |  | $ | 1,793 |  |  | $ | 1,793 |
Corporate obligations |  |  | 37,159 |  |  |  | 22,195 |  |  |  | 59,354 |
Total |  | $ | 37,159 |  |  | $ | 23,988 |  |  | $ | 61,147 |
The following table shows the gross unrealized losses and market value of Forrester’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
|  | As of December 31, 2016 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Federal agency obligations |  | $ | 1,793 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |
Corporate obligations |  |  | 53,647 |  |  |  | 129 |  |  |  | — |  |  |  | — |
Total |  | $ | 55,440 |  |  | $ | 136 |  |  | $ | — |  |  | $ | — |
|  | As of December 31, 2015 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Corporate obligations |  | $ | 45,748 |  |  | $ | 158 |  |  | $ | 2,027 |  |  | $ | 6 |
Realized gains or losses on sales of the Company’s available-for-sale securities were not significant for the years ended December 31, 2016 and 2015. The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and marketable investments) measured at fair value on a recurring basis (in thousands):
|  | As of December 31, 2016 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money market funds (1) |  | $ | 2,522 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,522 |
Federal agency obligations |  |  | — |  |  |  | 1,793 |  |  |  | — |  |  |  | 1,793 |
Corporate obligations |  |  | — |  |  |  | 59,354 |  |  |  | — |  |  |  | 59,354 |
Total |  | $ | 2,522 |  |  | $ | 61,147 |  |  | $ | — |  |  | $ | 63,669 |
|  | As of December 31, 2015 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money market funds (1) |  | $ | 325 |  |  | $ | — |  |  | $ | — |  |  | $ | 325 |
Corporate obligations |  |  | — |  |  |  | 47,775 |  |  |  | — |  |  |  | 47,775 |
Total |  | $ | 325 |  |  | $ | 47,775 |  |  | $ | — |  |  | $ | 48,100 |
(1) | Included in cash and cash equivalents.
Level 2 assets consist of the Company’s entire portfolio of marketable investments. Level 2 assets have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, typically utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

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