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Marketable Securities
 3 Months Ended
Mar. 31, 2021
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

Note 3. Marketable Securities

The Company’s marketable securities consisted of the following:

 

 

March 31, 2021

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Aggregate

Fair Value

 

 

(in thousands)

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond fund

$

163,079

 

 

$

—

 

 

$

(429

)

 

$

162,650

 

Exchange traded funds

 

17,629

 

 

 

—

 

 

 

(5

)

 

 

17,624

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

54,547

 

 

 

—

 

 

 

—

 

 

 

54,547

 

Corporate debt securities

 

77,871

 

 

 

194

 

 

 

(22

)

 

 

78,043

 

Less: Cash equivalents

 

(54,547

)

 

 

—

 

 

 

—

 

 

 

(54,547

)

Total short-term marketable securities

 

258,579

 

 

 

194

 

 

 

(456

)

 

 

258,317

 

Long-term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

278,907

 

 

 

285

 

 

 

(736

)

 

 

278,456

 

Yankee debt securities

 

9,242

 

 

 

—

 

 

 

(72

)

 

 

9,170

 

Total long-term marketable securities

 

288,149

 

 

 

285

 

 

 

(808

)

 

 

287,626

 

Total marketable securities

$

546,728

 

 

$

479

 

 

$

(1,264

)

 

$

545,943

 

 

 

December 31, 2020

 

 

Amortized

Cost Basis

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Aggregate

Fair Value

 

 

(in thousands)

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond fund

$

153,269

 

 

$

67

 

 

$

(151

)

 

$

153,185

 

Exchange traded funds

 

17,614

 

 

 

—

 

 

 

(5

)

 

 

17,609

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

47,461

 

 

 

—

 

 

 

—

 

 

 

47,461

 

Corporate debt securities

 

41,061

 

 

 

101

 

 

 

(15

)

 

 

41,147

 

Less: Cash equivalents

 

(47,461

)

 

 

—

 

 

 

—

 

 

 

(47,461

)

Total short-term marketable securities

 

211,944

 

 

 

168

 

 

 

(171

)

 

 

211,941

 

Long-term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

124,989

 

 

 

580

 

 

 

(117

)

 

 

125,452

 

U.S. government agency debt securities

 

1,000

 

 

 

2

 

 

 

—

 

 

 

1,002

 

Yankee debt securities

 

6,054

 

 

 

4

 

 

 

(10

)

 

 

6,048

 

Total long-term marketable securities

 

132,043

 

 

 

586

 

 

 

(127

)

 

 

132,502

 

Total marketable securities

$

343,987

 

 

$

754

 

 

$

(298

)

 

$

344,443

 

 

Gross unrealized losses on the Company’s marketable securities were $1.3 million as of March 31, 2021. Gross unrealized losses on the Company’s marketable securities were $298,000 as of December 31, 2020. The Company currently does not intend to sell these securities prior to maturity. During the first quarter of 2021, the Company did not recognize credit losses.

The Company’s securities of $420.2 million are used as collateral for an outstanding margin account borrowing. As of March 31, 2021, the Company had an outstanding borrowing of $15.0 million under its margin account. Margin account borrowings were used for the purchase of real property located in El Monte, California in 2020.