Marketable Securities

12 Months Ended

Dec. 31, 2023

2. Marketable Securities

The Company has classified its marketable securities as available-for-sale securities. These debt securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive income (loss) in shareholders’ 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 December 31, 2023 were as follows:

	Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses			Estimated fair value
December 31, 2023
Available-for-sale securities:
US Treasury securities	$	1,804	$	—	$	(1	)	$	1,803
Mutual funds		1,498		7		—			1,505
Certificates of deposit		103		—		—			103
Corporate debt securities		1,007		—		(22	)		985
Total available-for-sale securities	$	4,412	$	7	$	(23	)	$	4,396

Maturities of marketable securities classified as available-for-sale securities were as follows at December 31, 2023:

	Amortized cost		Estimated fair value
Due within one year	$	3,497	$	3,480
Due after one year through five years		915		916
Total available-for-sale securities	$	4,412	$	4,396

There were no available-for sale securities as of December 31, 2022.

Debt securities in an unrealized loss position as of December 31, 2023 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. The available-for-sale marketable securities in a gross unrealized loss position as of December 31, 2023 are summarized as follows:

	Less than 12 months					More than 12 months				Total
	Estimated		Gross			Estimated		Gross		Estimated		Gross
	fair value		unrealized			fair value		unrealized		fair value		unrealized
			holding					holding				holding
			losses					losses				losses
As of December 31, 2023
US Treasury Securities	$	1,803	$	(1	)		-	$	-	$	1,803	$	(1	)
Mutual Funds		1,505		-			-		-		1,505		-
Certificates of Deposit		103		-			-		-		103		-
Corporate Debt securities		985		(22	)		-		-		985		(22	)
	$	4,396	$	(23	)	$	-	$	-	$	4,396	$	(23	)