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Marketable Securities
 6 Months Ended
Jun. 30, 2020
Marketable Securities  
Marketable Securities

4. Marketable Securities

Marketable securities consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2020

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Estimated

 

    

Cost

    

Gain

    

Loss

    

Fair Value

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Agency bonds (government sponsored enterprises)

 

$

24,366

 

$

83

 

$

 —

 

$

24,449

Corporate bonds

 

 

251,022

 

 

1,858

 

 

(6)

 

 

252,874

Commercial paper

 

 

6,962

 

 

 —

 

 

 —

 

 

6,962

Total

 

$

282,350

 

$

1,941

 

$

(6)

 

$

284,285

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Estimated

(in thousands)

    

Cost

    

Gain

    

Loss

    

Fair Value

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities

 

$

4,991

 

$

 —

 

$

 —

 

$

4,991

Agency bonds (government sponsored enterprises)

 

 

24,437

 

 

15

 

 

(1)

 

 

24,451

Corporate bonds

 

 

271,124

 

 

103

 

 

(155)

 

 

271,072

Total

 

$

300,552

 

$

118

 

$

(156)

 

$

300,514

 

As of June 30, 2020, no marketable securities are considered to be other-than-temporarily impaired. The Company uses the specific identification method when calculating realized gains and losses. For the three and six months ended June 30, 2020, respectively, the Company recorded approximately $4,000 and $68,000 in realized gains on available-for-sale securities, which is included in other income, net on the condensed statement of operations.