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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Financial Instruments  
Schedule of available-for-sale securities

December 31, 2020

December 31, 2019

 

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
(Loss)

    

Estimated Fair
Value

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
(Loss)

    

Estimated Fair
Value

 

(in thousands)

 

Money market deposits

$

28,990

$

$

$

28,990

$

22,477

$

$

$

22,477

U.S. Treasury securities (1)

 

594,252

 

3,512

 

(20)

 

597,744

 

292,506

 

731

 

(80)

 

293,157

Corporate bonds and notes (1)

 

12,331

 

2

 

(5)

 

12,328

 

 

 

 

Municipal securities

77,764

796

(26)

78,534

85,638

277

(7)

85,908

Total

$

713,337

$

4,310

$

(51)

$

717,596

$

400,621

$

1,008

$

(87)

$

401,542

Classified as:

Cash equivalents (2)

$

28,990

$

22,477

Short-term investments

688,606

379,065

Total

$

717,596

$

401,542

Summarized portfolio of available-for-sale securities by contractual maturity

December 31, 2020

Amortized
Cost

Fair
Value

(in thousands)

Less than or equal to one year

$

322,416

$

323,002

Greater than one year but less than five years

361,931

365,604

Total

$

684,347

$

688,606