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Cash, Cash Equivalents and Investments
9 Months Ended
Sep. 30, 2017
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Investments
Cash, Cash Equivalents and Investments
The following tables summarize the Company's cash, cash equivalents, and held-to-maturity investments at September 30, 2017 and December 31, 2016 (in thousands):
 
As of September 30, 2017
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Cash and Cash Equivalents
 
Short-Term Investments
 
Long-Term Investments
Cash
$
33,825

 
$

 
$

 
$
33,825

 
$
33,825

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
9,646

 

 

 
9,646

 
9,646

 

 

Corporate bonds
17,403

 

 
(10
)
 
17,393

 

 
17,403

 

Subtotal
27,049

 

 
(10
)
 
27,039

 
9,646

 
17,403

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
State and municipal obligations
969

 

 

 
969

 

 
969

 

Certificates of deposit

 

 

 

 

 

 

Subtotal
969

 

 

 
969

 

 
969

 

Total
$
61,843

 
$

 
$
(10
)
 
$
61,833

 
$
43,471

 
$
18,372

 
$


 
As of December 31, 2016
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Cash and Cash Equivalents
 
Short-Term Investments
 
Long-Term Investments
Cash
$
32,802

 
$

 
$

 
$
32,802

 
$
32,802

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
7,849

 

 

 
7,849

 
7,849

 

 

Corporate bonds
33,379

 

 
(57
)
 
33,322

 

 
33,379

 

Subtotal
41,228

 

 
(57
)
 
41,171

 
7,849

 
33,379

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
State and municipal obligations
14,477

 

 
(10
)
 
14,467

 

 
14,243

 
234

Certificates of deposit
793

 

 

 
793

 

 
793

 

Subtotal
15,270

 

 
(10
)
 
15,260

 

 
15,036

 
234

Total
$
89,300

 
$

 
$
(67
)
 
$
89,233

 
$
40,651

 
$
48,415

 
$
234


The Company believes the unrealized losses on the Company’s investments are due to interest rate fluctuations. As these investments are short-term in nature, are expected to be redeemed at par value, and/or because the Company has the ability and intent to hold these investments to maturity, the Company does not consider these investments to be other than temporarily impaired at September 30, 2017 or as of December 31, 2016.