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Marketable Securities

3 Months Ended

Mar. 31, 2021

Marketable Securities

Marketable Securities

4. Marketable Securities

The Company has classified its marketable securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned.

The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of securities at March 31, 2021 and December 31, 2020 were as follows:

		Amortized cost				Gross unrealized holding gains				Gross unrealized holding losses				Estimated fair value
March 31, 2021
Available-for-sale securities:
Corporate bonds and notes		$	1,008			$	20			$	—			$	1,028
Municipal bonds			1,743				3				—				1,746
Total available-for-sale securities		$	2,751			$	23			$	—			$	2,774
December 31, 2020
Available-for-sale securities:
Corporate bonds and notes		$	1,312			$	26			$	—			$	1,338
Municipal bonds			1,536				5				—				1,541
Total available-for-sale securities		$	2,848			$	31			$	—			$	2,879

Maturities of marketable securities classified as available-for-sale securities were as follows at March 31, 2021:

		Amortized cost				Estimated fair value
Due within one year		$	960			$	967
Due after one year through five years			1,791				1,807
Due after five years			—				—
Total available-for-sale securities		$	2,751			$	2,774

Debt securities in an unrealized loss position as of March 31, 2021 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. Management believes that it is more likely than not that the securities will receive a full recovery of par value, although there can be no assurance that such recovery will occur. The available-for-sale marketable securities with continuous gross unrealized loss position for less than 12 months and 12 months or greater and their related fair values were as follows:

Less than 12 months

More than 12 months

Total

Estimated fair value

Gross unrealized holding losses

Estimated fair value

Gross unrealized holding losses

Estimated fair value

Gross unrealized holding losses

As of March 31, 2021

Corporate bonds and notes

$

—

$

—

$

—

$

—

$

—

$

—

Municipal bonds

—

—

—

—

—

—

Total

$

—

$

—

$

—

$

—

$

—

$

—

X

- References

No definition available.

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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

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