Quarterly report pursuant to Section 13 or 15(d)

Marketable securities - available-for-sale debt securities

v3.22.1
Marketable securities - available-for-sale debt securities
3 Months Ended
Mar. 31, 2022
Marketable securities - available-for-sale debt securities  
Marketable securities - available-for-sale debt securities

Note 7 — Marketable securities – available-for-sale debt securities

As of March 31, 2022, the Company has the following investments in marketable securities (in thousands):

Gross

Gross

Aggregate

Remaining

Amortized

unrealized

unrealized

estimated

    

contractual maturity

    

cost

    

gains

    

losses

    

fair value

Available-for-sale debt securities:

 

  

 

  

 

  

 

  

 

  

Corporate debt securities

 

Less than 3 months

$

49,028

$

26

$

(10)

$

49,044

Corporate debt securities

3 months to 1 year

78,123

(623)

77,500

U.S. Treasury securities

3 months to 1 year

42,192

(48)

42,144

Agency bonds

1 year to 2 years

5,000

(110)

4,890

Corporate debt securities

1 year to 2 years

41,848

(747)

41,101

 

  

$

216,191

$

26

$

(1,538)

$

214,679

The aggregate fair value (in thousands) and number of securities held by the Company (including those classified as cash equivalents) in an unrealized loss position as of March 31, 2022 and 31 December, 2021 are as follows:

March 31, 2022

December 31, 2021

     

Fair market value of investments in an unrealized loss position

Number of investments in an unrealized loss position

Unrealized losses

Fair market value of investments in an unrealized loss position

Number of investments in an unrealized loss position

Unrealized losses

Marketable securities in a continuous loss position for 12 months or longer:

Corporate debt securities

$

29,672

5

$

(275)

$

8,232

1

(35)

Marketable securities in a continuous loss position for less than 12 months:

Corporate debt securities

 

$

112,253

 

24

$

(1,105)

 

$

163,258

 

34

 

$

(348)

U.S. Treasury securities

 

42,144

 

9

 

(48)

 

 

 

Agency bond

4,890

1

(110)

4,993

1

(7)

 

$

188,959

 

39

$

(1,538)

 

$

176,483

 

36

 

$

(390)

As of March 31, 2022, the securities in an unrealized loss position are not considered to be other than temporarily impaired because the impairments are not severe and have been for a short duration. Five securities have been in an unrealized loss position for more than one year with a net total unrealized loss of $275,000. Furthermore, the Company does not intend to sell the debt securities in an unrealized loss position, believes that it has the ability to hold the debt securities to maturity, and it is unlikely that the Company will be required to sell these securities before the recovery of the amortized cost.