Marketable Securities

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

Marketable securities consist of the Company’s ownership of equity securities carried at fair value in accordance with ASU 2016-01. The securities had a fair value of $0.3 million as of both September 30, 2021 and December 31, 2020.

These marketable securities are measured at fair value, with any changes in fair value recognized in earnings and included in “Other income (loss)” in the Company’s unaudited condensed consolidated statements of operations. The Company recognized an unrealized net loss of $12 thousand and an unrealized net gain of $26 thousand for the three months ended September 30, 2021 and 2020, respectively, related to sales of shares and the mark-to-market adjustments on shares and any related hedging transactions, when applicable. The Company recognized an unrealized net loss of $1 thousand and a realized and unrealized net gain of $0.3 million for the nine months ended September 30, 2021 and 2020, respectively, related to sales of shares and the mark-to-market adjustments on shares and any related hedging transactions, when applicable.

During the nine months ended September 30, 2021, the Company did not sell any marketable securities. During the nine months ended September 30, 2020, the Company sold marketable securities with a fair value of $14.2 million, at the time of sale. The Company did not purchase any marketable securities during the nine months ended September 30, 2021 and 2020.