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Available-for-Sale Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]  
Summary of Available-for-Sale Marketable Securities by Major Type of Security

The following tables summarize the Company's available-for-sale marketable securities by major type of security as of December 31, 2018, and 2017:

As of December 31, 2018

 

 

 

 

 

 

 

Gross Unrealized

 

 

Estimated Fair

 

Type of Security

 

Amortized Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury securities

 

$

19,540

 

 

$

 

 

$

(1

)

 

$

19,539

 

U.S. government agency obligations

 

 

17,860

 

 

 

 

 

 

(1

)

 

 

17,859

 

Corporate bonds

 

 

75,999

 

 

 

5

 

 

 

(94

)

 

 

75,910

 

Commercial paper

 

 

50,413

 

 

 

 

 

 

(23

)

 

 

50,390

 

Municipal bonds

 

 

4,000

 

 

 

 

 

 

 

 

 

4,000

 

Total available-for-sale marketable securities

 

$

167,812

 

 

$

5

 

 

$

(119

)

 

$

167,698

 

 

As of December 31, 2017

 

 

 

 

 

 

 

Gross Unrealized

 

 

Estimated Fair

 

Type of Security

 

Amortized Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Money market funds

 

$

39,988

 

 

$

 

 

$

(37

)

 

$

39,951

 

U.S. government agency obligations

 

 

7,799

 

 

 

 

 

 

(5

)

 

 

7,794

 

Corporate bonds

 

 

15,919

 

 

 

 

 

 

(12

)

 

 

15,907

 

Commercial paper

 

 

19,545

 

 

 

 

 

 

(16

)

 

 

19,529

 

Total available-for-sale marketable securities

 

$

83,251

 

 

$

 

 

$

(70

)

 

$

83,181

 

Schedule of Amortized Cost and Fair Values of Marketable Debt Securities by Contractual Maturity

The Company classifies its marketable debt securities based on their contractual maturity dates. As of December 31, 2018, the Company’s marketable debt securities mature at various dates through November 2020. The amortized cost and fair values of marketable debt securities by contractual maturity were as follows. The table does not include money market funds that are classified as available-for sale marketable securities as of December 31, 2017.

 

 

 

As of December 31,

 

 

 

2018

 

 

2017

 

Contractual maturity

 

Amortized Cost

 

 

Fair Value

 

 

Amortized Cost

 

 

Fair Value

 

Less than one year

 

$

146,363

 

 

$

146,302

 

 

$

43,263

 

 

$

43,230

 

One year to two years

 

 

21,449

 

 

 

21,396

 

 

 

 

 

 

 

Total

 

$

167,812

 

 

$

167,698

 

 

$

43,263

 

 

$

43,230

 

Schedule of Fair Values and Continuous Unrealized Loss Positions of Available-for-Sale Marketable Securities

The following tables show the fair value of the Company's available-for-sale marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual investments have been in a continuous unrealized loss position.

 

 

 

Less than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

As of December 31, 2018

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

U.S. Treasury securities

 

$

16,392

 

 

$

(1

)

 

$

 

 

$

 

 

$

16,392

 

 

$

(1

)

U.S. government agency obligations

 

 

5,596

 

 

 

(1

)

 

 

 

 

 

 

 

 

5,596

 

 

 

(1

)

Corporate bonds

 

 

71,322

 

 

 

(94

)

 

 

 

 

 

 

 

 

71,322

 

 

 

(94

)

Commercial paper

 

 

39,445

 

 

 

(23

)

 

 

 

 

 

 

 

 

39,445

 

 

 

(23

)

Total

 

$

132,755

 

 

$

(119

)

 

$

 

 

$

 

 

$

132,755

 

 

$

(119

)

 

 

 

Less than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

As of December 31, 2017

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

Money market funds

 

$

39,951

 

 

$

(37

)

 

$

 

 

$

 

 

$

39,951

 

 

$

(37

)

U.S. government agency obligations

 

 

7,794

 

 

 

(5

)

 

 

 

 

 

 

 

 

7,794

 

 

 

(5

)

Corporate bonds

 

 

15,907

 

 

 

(12

)

 

 

 

 

 

 

 

 

15,907

 

 

 

(12

)

Commercial paper

 

 

19,031

 

 

 

(16

)

 

 

 

 

 

 

 

 

19,031

 

 

 

(16

)

Total

 

$

82,683

 

 

$

(70

)

 

$

 

 

$

 

 

$

82,683

 

 

$

(70

)