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Available-for-Sale Investments (Notes)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Short-term investments
Available-for-Sale Investments

The Company classifies its investments in debt securities as available-for-sale. Debt securities are comprised of highly liquid investments with minimum “A” rated securities and, as of December 31, 2019, consist of U.S. Treasury and agency bonds and corporate entity commercial paper and securities, all with maturities of more than three months but less than two years at the date of purchase. Debt securities as of December 31, 2019 had an average remaining maturity of 0.70 years. The debt securities are reported at fair value with unrealized gains or losses recorded in accumulated other comprehensive gain (loss) in the consolidated balance sheets. Refer to Note 12, "Fair Value Measurements," for information related to the fair value measurements and valuation methods utilized.

The following table represents the Company’s available-for-sale investments by major security type as of December 31, 2019 and 2018 (in thousands):
 
 
December 31, 2019
 
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized Losses
 
Total
Fair Value
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
     Commercial paper
 
$
14,922

 
$
—

 
$
—

 
$
14,922

     Corporate securities
 
22,146

 
20

 
(2
)
 
22,164

     U.S. government securities
 
32,152

 
23

 
—

 
32,175

        Total available-for-sale investments
 
$
69,220

 
$
43

 
$
(2
)
 
$
69,261

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized Losses
 
Total
Fair Value
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
     Agency securities
 
$
11,944

 
$
—

 
$
(13
)
 
$
11,931

     Commercial paper
 
1,183

 
—

 
—

 
1,183

     Corporate securities
 
15,081

 
—

 
(15
)
 
15,066

     U.S. government securities
 
38,761

 
—

 
(24
)
 
38,737

        Total available-for-sale investments
 
$
66,969

 
$
—

 
$
(52
)
 
$
66,917



The Company reviews available-for-sale investments for other-than-temporary impairment loss periodically. The Company considers factors such as the duration, severity of and reason for the decline in value, the potential recovery period and our intent to sell. For debt securities, we also consider whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis and (ii) the amortized cost basis cannot be recovered as a result of credit losses. During the years ended December 31, 2019 and 2018, the Company did not recognize any other-than-temporary impairment losses. All marketable securities with unrealized losses have been in a loss position for less than twelve months.