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Marketable Securities
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Marketable Securities
The following is a summary of available-for-sale securities as of December 31, 2021 (in thousands):
Amortized CostGross Unrealized GainGross Unrealized (Losses)Estimated Fair Value
Tax-exempt municipal securities$18,546 $271 $— $18,817 
Corporate debt securities10,898 163 — 11,061 
Total$29,444 $434 $— $29,878 
The following is a summary of available-for-sale securities as of December 31, 2020 (in thousands):
    
Amortized CostGross Unrealized GainGross Unrealized (Losses)Estimated Fair Value
Tax-exempt municipal securities$19,924 $365 $— $20,289 
Corporate debt securities17,086 452 — 17,538 
Total$37,010 $817 $— $37,827 
The unrealized gains and losses on the Company’s investments in corporate debt and municipal securities as of December 31, 2020 and 2021 were caused by changes in market values primarily due to interest rate changes. As of December 31, 2021, there were no securities in an unrealized loss position for a period longer than twelve months. The Company has no allowance for credit losses related to its available-for-sale securities as all investments are in investment grade securities. The Company does not intend to sell these securities, and it is not more likely than not that the Company will be required to sell these securities prior to the recovery of their amortized cost basis, which may be at maturity. No impairment charges were recorded during the years ended December 31, 2019, 2020, and 2021.
The following table summarizes the maturities of the Company’s marketable securities as of December 31, 2020 and 2021 (in thousands):
 December 31, 2020December 31, 2021
Due within one year$7,557 $6,501 
Due after one year through five years30,270 23,377 
Total$37,827 $29,878 
The following table summarizes the proceeds from the maturities and sales of available-for-sale securities for the years ended December 31, 2019, 2020, and 2021 (in thousands):
 December 31, 2019December 31, 2020December 31, 2021
Maturities of marketable securities$43,762 $34,728 $7,495 
Sales of marketable securities— 1,464 1,805 
Total$43,762 $36,192 $9,300 
The Company recorded approximately $35,000 in gross realized gains and $0.8 million in gross realized losses in net income during the years ended December 31, 2020 and December 31, 2021, respectively. The Company did not record any gross realized gains or losses in net income during the year ended and December 31, 2019.