Quarterly report pursuant to Section 13 or 15(d)

Available-for-sale debt securities

v3.10.0.1
Available-for-sale debt securities
9 Months Ended
Sep. 30, 2018
Available-for-sale debt securities  
Available-for-sale debt securities

 

Note 7 — Available-for-sale debt securities

 

As of September 30, 2018, the Company has the following investments in available-for-sale debt securities (in thousands):

 

 

 

 

 

 

 

 

Gross

 

Gross

 

Aggregate

 

 

 

 

 

Amortized

 

unrealized

 

unrealized

 

estimated fair

 

 

 

Maturity

 

cost

 

gains

 

losses

 

value

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

3 months to 1 year

 

$

82,717

 

$

 

$

(49

)

$

82,668

 

Commercial paper

 

3 months to 1 year

 

1,984

 

 

 

 

1,984

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

84,701

 

$

 

$

(49

)

$

84,652

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the three and nine months ended September 30, 2018, realized losses recognized on the maturity of available-for-sale debt securities of nil and $2,473,000, respectively, primarily arising due to foreign exchange movements, were reclassified out of accumulated other comprehensive loss.

 

As of September 30, 2018 and December 31, 2017, the aggregate fair value of securities held by the Company in an unrealized loss position was $ 79,485,000 and $125,828,000, respectively, which consisted of 28 and 54 securities, respectively.  No securities have been in an unrealized loss position for more than one year. As of September 30, 2018, the securities in an unrealized loss position are not considered to be other than temporarily impaired because the impairments are not severe, have been for a short duration and are due to normal market fluctuations. Furthermore, the Company does not intend to sell the debt securities in an unrealized loss position and it is unlikely that the Company will be required to sell these securities before the recovery of the amortized cost.