Note 2. Investments

The Company has investments in commercial paper, Treasury Bills, and common equity securities of a private U.S. company. The commercial paper investment is in U.S. debt with ratings of A-1+, P-1, and F1+. The Treasury Bills have terms ranging from one month to six months at September 30, 2018.

The Company classifies its investments in commercial paper and Treasury Bills as available-for-sale accounted for at fair value with unrealized gains and losses recognized in accumulated other comprehensive gain on the balance sheet.

Prior to January 1, 2018, the Company accounted for equity securities at fair value with unrealized gains and losses recognized in accumulated other comprehensive gain on the balance sheet. Realized gains and losses on equity securities sold or impaired were recognized in non-operating income on the statement of comprehensive income (loss).

On January 1, 2018, the Company adopted ASU 2016-01, which changed the way the Company accounted for equity securities. Equity securities are measured at fair value and starting January 1, 2018 unrealized gains and losses are recognized in non-operating income. Upon adoption, the Company reclassified $7 net unrealized losses related to equity securities from accumulated other comprehensive gain to retained earnings.

The cost and estimated fair value of the Company’s investments are as follows:

	Cost		Gross unrealized gain		Gross unrealized loss			Fair value
September 30, 2018
Commercial Paper	$	316	$	0	$	0		$	316
Treasury Bills		7,671		33		0			7,704
Equity Securities		54		0		(9	)		45
		8,041		33		(9	)		8,065
Less Cash Equivalents		316		0		0			316
Total Investments, September 30, 2018	$	7,725	$	33	$	(9	)	$	7,749

December 31, 2017
Commercial Paper	$	568	$	0	$	0		$	568
Treasury Bills		7,687		24		0			7,711
Equity Securities		54		0		(9	)		45
		8,309		24		(9	)		8,324
Less Cash Equivalents		568		0		0			568
Total Investments, December 31, 2017	$	7,741	$	24	$	(9	)	$	7,756