Investments

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Investments

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 A-1+, P-1, and F1+. The Treasury Bills have remaining terms ranging from one month to three months at September 30, 2019. 

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 income (loss).

On January 1, 2018, the Company adopted ASU 2016-01, which changed how the Company accounted for equity securities. Equity securities are now measured at fair value and starting January 1, 2018, unrealized gains and losses have been recognized in non-operating income. Upon adoption, the Company reclassified $7 of 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
September 30, 2019
Commercial Paper	$	810	$	0	$	0	$	810
Treasury Bills		7,684		56		0		7,740
Equity Securities		45		0		0		45
		8,539		56		0		8,595
Less Cash Equivalents		2,809		0		0		2,809
Total Investments, September 30, 2019	$	5,730	$	56	$	0	$	5,786
December 31, 2018
Commercial Paper	$	667	$	0	$	0	$	667
Treasury Bills		7,656		41		0		7,697
Equity Securities		45		0		0		45
		8,368		41		0		8,409
Less Cash Equivalents		667		0		0		667
Total Investments, December 31, 2018	$	7,701	$	41	$	0	$	7,742