Short-term Investment Securities

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Short-term Investment Securities

The Company's short-term investment securities consist of available-for-sale asset-backed securities with contractual maturities of twelve months or less. These securities are stated at fair value within current assets on the Company's condensed balance sheets. Realized gains and losses on sales of investments, if any, are reflected in non-operating income (expense) in the condensed statements of operations. Unrealized gains and losses on investment securities are reflected as a component of accumulated other comprehensive income (AOCI).

As of March 31, 2017 and December 31, 2016, the Company had $100.3 million and $100.2 million in short-term available-for-sale investment securities, respectively. For the three months ended March 31, 2017, these investments earned interest income at a weighted-average fixed rate of approximately 1.3%. For the three months ended March 31, 2017, an unrealized loss of $13 thousand, net of deferred taxes of $8 thousand, was recorded within AOCI related to these investment securities. For the three months ended March 31, 2016, the Company had no unrealized gains or losses related to these instruments as the Company did not invest in them until the third quarter of 2016. The Company has not recognized any realized gains or losses related to these securities as the Company has not transacted any sales of these securities. As of March 31, 2017 and December 31, 2016, $36 thousand and $23 thousand, net of tax, respectively, remained in AOCI, related to these instruments.