Investments

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

NOTE 5 - INVESTMENTS

Cash and cash equivalents includes investments in money market funds that are valued based on the net asset value of the funds. The investments in these funds were $170.3 million and $99.2 million as of September 30, 2020 and December 31, 2019, respectively.

All other investments are classified as held-to-maturity and typically consist of highly liquid instruments, including corporate bonds and commercial paper. As of September 30, 2020 and December 31, 2019, the amortized cost of these investments equaled the net carrying value, which was $1.2 million and $38.0 million, respectively. All held-to-maturity securities as of September 30, 2020 mature in one year or less. See Note 9, Fair Value Measurements, for additional information.