Short-term Investments

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Short-term Investments

Short-term Investments

Short-term investments consisted of available-for-sale securities as follows (in thousands):

Type of securities as of December 31, 2016	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate debt securities	$	36,198	$	4	$	(42	)	$	36,160
U.S. government-related debt securities	17,312		1		(20		)	$	17,293
Total available-for-sale securities	$	53,510	$	5	$	(62	)	$	53,453

Type of securities as of December 31, 2015	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate debt securities	$	26,116	$	—	$	(28	)	$	26,088
U.S. government-related debt securities	1,101		—		(1		)	1,100
Total available-for-sale securities	$	27,217	$	—	$	(29	)	$	27,188

The fair values of available-for-sale securities by contractual maturity at December 31 were as follows (in thousands):

	2016		2015
Maturing in one year or less	$	46,310	$	27,188
Maturing in one to three years	7,143		—
Total available-for-sale securities	$	53,453	$	27,188

The Company has both the intent and ability to sell its available-for-sale investments maturing greater than one year within 12 months from the balance sheet date and, accordingly, has classified these securities as current in the consolidated balance sheet. The Company has no investments that have been in a continuous unrealized loss position as of December 31, 2016.

The Company reviews the individual securities in its portfolio to determine whether a decline in a security’s fair value below the amortized cost basis is other-than-temporary. The Company determined that as of December 31, 2016, there were no investments in its portfolio that were other-than-temporarily impaired.