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Investments
 3 Months Ended
Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments

The following tables summarize our short-term investments (dollars in thousands):
 
 
 
As of March 31, 2017
 
Maturity
 
Amortized cost
Gross unrealized gains
Gross unrealized losses
Estimated fair value
Corporate debt securities
1 year or less
 
$
36,350

$
1

$
(5
)
$
36,346

Commercial paper
1 year or less
 
39,268

89

—

39,357

 
 
 
$
75,618

$
90

$
(5
)
$
75,703

 
 
 
As of December 31, 2016
 
Maturity
 
Amortized cost
Gross unrealized gains
Gross unrealized losses
Estimated fair value
Corporate debt securities
1 year or less
 
$
20,622

$
—

$
(3
)
$
20,619

Commercial paper
1 year or less
 
13,717

15

—

13,732

 
 
 
$
34,339

$
15

$
(3
)
$
34,351


Unrealized gains and losses on available-for-sale securities are included as a component of comprehensive loss. At March 31, 2017, the Company did not have any securities in material unrealized loss positions. The Company reviews its investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Company does not intend to sell any investments prior to recovery of their amortized cost basis for any investments in an unrealized loss position.