Investments

12 Months Ended

Dec. 31, 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 F1+.  The Treasury Bills have terms ranging from one month to three months and are included within cash and cash equivalents on the balance sheet at December 31, 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 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 of net unrealized losses related to equity securities from accumulated other comprehensive gain to retained earnings.

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

	Cost		Gross unrealized gain		Gross unrealized loss		Fair value
December 31, 2019
Commercial Paper	$	797	$	0	$	0	$	797
Treasury Bills		7,734		0		0		7,734
Equity Securities		45		0		0		45
		8,576		0		0		8,576
Less Cash Equivalents		8,531		0		0		8,531
Total Investments, December 31, 2019	$	45	$	0	$	0	$	45
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

Changes in Accumulated Other Comprehensive Income

Changes in Accumulated Other Comprehensive Income are as follows: 

	December 31,
	2019			2018
Unrealized Gains
Unrealized holding gains arising during the period	$	0		$	19
Less: Reclassification of gains included in net income (loss)		(41	)		0
		(41	)		19
Deferred Taxes on Unrealized Gains:
Increase in deferred taxes on unrealized gains arising during the period		0			6
Less: Reclassification of taxes on gains included in net income (loss)		(9	)		0
		(9	)		6
Net Change in Accumulated Other Comprehensive Income	$	(32	)	$	13