Quarterly report pursuant to Section 13 or 15(d)

Available-for-sale debt securities

v3.19.2
Available-for-sale debt securities
6 Months Ended
Jun. 30, 2019
Available-for-sale debt securities  
Available-for-sale debt securities

Note 9 — Available-for-sale debt securities

As of June 30, 2019, the Company has the following investments in available-for-sale debt securities (in thousands):

Gross

Gross

Aggregate

Remaining

Amortized

Unrealized

Unrealized

Estimated

    

Contractual Maturity

    

Cost

    

Gains

    

Losses

    

Fair Value

Cash equivalents:

 

  

 

  

 

  

 

  

 

  

Money market funds

 

Less than 3 months

$

10,241

$

$

$

10,241

 

  

$

10,241

$

$

$

10,241

Marketable securities:

 

  

 

  

 

  

 

  

 

  

Corporate debt securities

 

Less than 3 months

$

35,703

$

18

$

$

35,721

Corporate debt securities

3 months to 1 year

56,027

85

(2)

56,110

Agency bond

3 months to 1 year

3,992

7

3,999

Certificate of deposit

Less than 3 months

3,002

3,002

 

  

$

98,724

$

110

$

(2)

$

98,832

Maturity information above is categorized by the period remaining after the reporting period until the maturity date. In the three and six months ended June 30, 2019, $13,000 of realized gains recognized on the maturity of available-for-sale debt securities were reclassified out of other accumulated other comprehensive loss. As of June 30, 2019 and December 31, 2018, the aggregate fair value of securities held by the Company in an unrealized loss position was $9.6 million and $117.2 million respectively, which consisted of 3 and 37 separate securities, respectively. No securities have been in an unrealized loss position for more than one year. As of June 30, 2019, 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.