Investments

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2021 are as follows:


(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Corporate bonds and notes—short-term	$	75,896	$	—	$	(26)	$	75,870
Corporate bonds and notes—long-term	24,047		—		(83)		23,964
Total investments	$	99,943	$	—	$	(109)	$	99,834

The weighted average maturity of short-term investments and long-term investments was 0.4 and 1.2 years, respectively, at December 31, 2021.

The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2020 are as follows:


(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Corporate bonds and notes—short-term	$	38,888	$	—	$	(4)	$	38,884
Corporate bonds and notes—long-term	14,563		1		—		14,564
Total investments	$	53,451	$	1	$	(4)	$	53,448

The weighted average maturity of short-term investments and long-term investments was 0.6 and 1.5 years, respectively, at December 31, 2020.

No credit losses on available-for-sale securities were recognized during the years ended December 31, 2021, 2020, and 2019. In its evaluation to determine expected credit losses, management considered all available historical and current information, expectations of future economic conditions, the type of security, the credit rating of the security, and the size of the loss position, as well as other relevant information. The Company does not intend to sell, and is unlikely to be required to sell, any of these available-for-sale investments before their effective maturity or market price recovery. The Company held no investments that have been in a continuous unrealized loss position for 12 months or longer.