INVESTMENTS HELD-TO-MATURITY

12 Months Ended

Dec. 31, 2018

Investments [Abstract]

INVESTMENTS HELD-TO-MATURITY

INVESTMENTS HELD-TO-MATURITY

We classify investments as held-to-maturity when we have the positive intent and ability to hold the securities to maturity.

During 2017, we invested in commercial papers and certificates of deposit that were classified as investments held-to-maturity. As of December 31, 2017, all of our investments held-to-maturity had matured and we had no investments classified as held-to-maturity.

During 2018, we invested in U.S. Treasury bills, commercial papers and a certificate of deposit that were classified as investments held-to-maturity. As of December 31, 2018, both amortized cost value and fair value were $16.9 million with zero unrealized gain or loss. U.S. Treasury bills totaling $25.0 million matured in April 2018 and certain commercial papers totaling $14.6 million matured during the year ended December 31, 2018. Remaining commercial papers totaling $16.9 million mature in January 2019, and the certificate of deposit for $100,000 matures in January 2019. We did not recognize an other-than-temporary impairment or a comprehensive gain or loss for the year ended December 31, 2018.

We recorded interest and investment income of $67,000 and $481,000 for the years ended December 31, 2017 and 2018, respectively, associated with our cash and investment accounts.