Note 2. Investments

The Company has investments in commercial paper, Treasury Bills, and common equity securities of a private U.S. company. The commercial paper investment is in U.S. debt with ratings of F1+. The Treasury Bills have terms ranging from one month to seven months at March 31, 2018.

The Company classifies its investments in commercial paper and Treasury Bills as available-for-sale accounted for at fair value with unrealized gains and losses recognized in accumulated other comprehensive gain on the balance sheet.

Prior to January 1, 2018, the Company accounted for equity securities at fair value with unrealized gains and losses recognized in accumulated other comprehensive gain on the balance sheet. Realized gains and losses on equity securities sold or impaired were recognized in non-operating income on the statement of comprehensive loss.

On January 1, 2018, the Company adopted ASU 2016-01 which changed the way the Company accounted for equity securities. Equity securities are measured at fair value and starting January 1, 2018 unrealized gains and losses are recognized in non-operating income. Upon adoption, the Company reclassified $7 net unrealized losses related to equity securities from accumulated other comprehensive gain to retained earnings.

The cost and estimated fair value of the Company’s investments are as follows:

	Cost		Gross unrealized gain		Gross unrealized loss			Fair value
March 31, 2018
Commercial Paper	$	346	$	0	$	0		$	346
Treasury Bills		7,682		23		0			7,705
Equity Securities		54		0		(9	)		45
		8,082		23		(9	)		8,096
Less Cash Equivalents		346		0		0			346
Total Investments, March 31, 2018	$	7,736	$	23	$	(9	)	$	7,750

December 31, 2017
Commercial Paper	$	568	$	0	$	0		$	568
Treasury Bills		7,687		24		0			7,711
Equity Securities		54		0		(9	)		45
		8,309		24		(9	)		8,324
Less Cash Equivalents		568		0		0			568
Total Investments, December 31, 2017	$	7,741	$	24	$	(9	)	$	7,756