Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Cash and Available-for-Sale Securities

The following tables summarize our cash and available-for-sale securities that were measured at fair value by significant investment category within the fair value hierarchy (in thousands):


	December 31, 2021
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value		Cash and Cash Equivalents		Cash- Restricted
Assets:
Cash and money market funds	$	28,451	$	—	$	—	$	28,451	$	28,451	$	—
Cash-restricted	1,016		—		—		1,016		—		1,016
Total cash, cash equivalents and restricted cash	$	29,467	$	—	$	—	$	29,467	$	28,451	$	1,016

	December 31, 2020
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value		Cash and Cash Equivalents		Cash-Restricted
Assets:
Cash and money market funds	$	68,520	$	—	$	—	$	68,520	$	68,520	$	—
Cash-restricted	1,016		—		—		1,016		—		1,016
Total cash, cash equivalents and restricted cash	$	69,536	$	—	$	—	$	69,536	$	68,520	$	1,016

Schedule of Debt

The carrying values of the components of the 2014 Notes and 2019 Notes are as follows (in thousands):


	December 31,
	2021		2020
2.75% 2014 Notes due 2034
Principal amount	$	578	$	1,079
Unamortized debt discount	(8)		(16)
Unamortized debt issuance cost	(2)		(4)
Net carrying value of 2014 Notes	$	568	$	1,059

5.25% 2019 Notes due 2024
Principal amount	$	55,000	$	55,000


Unamortized debt issuance cost	(1,408)		(1,835)
Net carrying value of 2019 Notes	$	53,592	$	53,165
Net carrying value of all Notes	$	54,160	$	54,224

The carrying values of our term loan and advances under the Credit Facility, and the maximum amount available under the Credit Facility are as follows (in thousands):


	December 31,
	2021		2020
Term Loan
Principal amount	$	10,000	$	—
End of term fee accretion	79		—
Unamortized debt issuance cost	(30)		—
Net carrying value of term loan	$	10,049	$	—

Credit Facility
Borrowing Base	$9,368		$	15,000
Carrying value of advances under revolving credit agreement	$	6,838	$	—

The following table summarizes the par value, carrying value and the estimated fair value of our debt at December 31, 2021 and 2020, respectively (in thousands):


	December 31, 2021						December 31, 2020
	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value		Fair Value
2014 Notes	$	578	$	568	$	601	$	1,079	$	1,059	$	1,122
2019 Notes	55,000		53,592		81,880		55,000		53,165		117,899
Total Notes	$	55,578	$	54,160	$	82,481	$	56,079	$	54,224	$	119,021

Term loan, net	$	10,000	$	10,049	$	10,113	$	—	$	—	$	—

Advances under revolving credit agreement	$	6,838	$	6,838	$	6,838	$	—	$	—	$	—