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Investments | 9 Months Ended
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Sep. 30, 2021
Investments [Abstract] |
Investments | Investments As of September 30, 2021 and December 31, 2020, the Company primarily invested its excess cash in debt instruments of corporations, the U.S. Treasury, financial institutions, and U.S. government agencies with strong credit ratings and an investment grade rating at or above a long-term rating of Aa3/AA- and a short-term rating of P1/A1. The Company has established guidelines relative to diversification and maturities that maintain safety and liquidity. The Company periodically reviews and modifies these guidelines to maximize trends in yields and interest rates without compromising safety and liquidity. The following table summarizes the contract maturity of the available-for-sale securities the Company held as of September 30, 2021:
One year or less | 100 | %
After one year but within two years | — | %
Total | 100 | %
All of the Company’s available-for-sale securities are available to the Company for use in its current operations. As a result, the Company categorizes all of these securities as current assets even though the stated maturity of some individual securities may be one year or more beyond the balance sheet date. The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of cash equivalents and available-for-sale securities by type of security at September 30, 2021 and December 31, 2020 were as follows:
| September 30, 2021
| Amortized Costs |  | Gross Unrealized Holding Gains |  | Gross Unrealized Holding Losses |  | Fair Value
Commercial paper | $ | 6,498 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 6,497 |
Corporate notes/bonds | 1,205 |  |  | — |  |  | — |  |  | 1,205 |
U.S. Government agency securities | 1,251 |  |  | — |  |  | — |  |  | 1,251 |
| $ | 8,954 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 8,953 |
| December 31, 2020
| Amortized Costs |  | Gross Unrealized Holding Gains |  | Gross Unrealized Holding Losses |  | Fair Value
Commercial paper | $ | 15,992 |  |  | $ | 2 |  |  | $ | (3) |  |  | $ | 15,991 |
Corporate notes/bonds | 29,227 |  |  | 72 |  |  | (3) |  |  | 29,296 |
U.S. Treasuries | 2,251 |  |  | 2 |  |  | — |  |  | 2,253 |
U.S. Government agency securities | 1,265 |  |  | 13 |  |  | — |  |  | 1,278 |
| $ | 48,735 |  |  | $ | 89 |  |  | $ | (6) |  |  | $ | 48,818 |

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- 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 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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