Short-term Investment Securities

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Short-term Investment Securities

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 balance sheet. Realized gains and losses on sales of investments, if any, are reflected in non-operating income (expense) in the statements of operations. Unrealized gains and losses on investment securities are reflected as a component of accumulated other comprehensive income, (AOCI).

As of December 31, 2017 and December 31, 2016, the Company had $100.9 million and $100.2 million in short-term available-for-sale investment securities, respectively. During the twelve months ended December 31, 2017 and December 31, 2016, these investments earned interest income at a weighted-average fixed rate of approximately 1.4% and 1.1%, respectively. For the twelve months ended December 31, 2017 and December 31, 2016, an unrealized loss of $82 thousand and $23 thousand, net of deferred taxes of $41 thousand and $13 thousand, respectively, was recorded within AOCI related to these investment securities. 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 December 31, 2017 and December 31, 2016, $105 thousand and $23 thousand, net of tax, respectively, remained in AOCI, related to these instruments.