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Investment Securities At Fair Value (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Investment Securities at Fair Value
The components of debt securities available for sale at December 31, 2018 were as follows:

 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Marketable debt securities
$
84,199

 
$
168

 
$
—

 
$
84,367

Total debt securities available for sale
$
84,199

 
$
168

 
$
—

 
$
84,367


The components of debt securities available for sale at September 30, 2019 were as follows:

 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Marketable debt securities
$
93,730

 
$
837

 
$
—

 
$
94,567

Total debt securities available for sale
$
93,730

 
$
837

 
$
—

 
$
94,567



Investment securities at fair value consisted of the following:
 
September 30,
2019
 
December 31, 2018
Debt securities available for sale
$
94,567

 
$
84,367

Equity securities at fair value
46,123

 
47,202

Total investment securities at fair value
$
140,690

 
$
131,569



Net (losses) gains recognized on investment securities were as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Net (losses) gains recognized on equity securities
$
(1,506
)
 
$
(797
)
 
$
5,545

 
$
(306
)
Net gains (losses) recognized on debt securities available for sale
25

 
(4
)
 
67

 
(17
)
Gross realized losses on other-than-temporary impairments
(6
)
 
(161
)
 
(11
)
 
(972
)
Net (losses) gains recognized on investment securities
$
(1,487
)
 
$
(962
)
 
$
5,601

 
$
(1,295
)
Schedule of Maturity Dates of Fixed Income Securities
The table below summarizes the maturity dates of debt securities available for sale at September 30, 2019.

Investment Type:
Fair Value
 
Under 1 Year
 
1 Year up to 5 Years
 
More than 5 Years
U.S. Government securities
$
17,543

 
$
7,090

 
$
10,453

 
$
—

Corporate securities
50,159

 
20,328

 
29,831

 
—

U.S. mortgage-backed securities
10,361

 
3,053

 
7,308

 
—

Commercial mortgage-backed securities
388

 
24

 
364

 
—

Commercial paper
13,934

 
13,934

 
—

 
—

Index-linked U.S. bonds
1,174

 
1,174

 
—

 
—

Foreign fixed-income securities
1,008

 
500

 
508

 
—

Total debt securities available for sale by maturity dates
$
94,567

 
$
46,103

 
$
48,464

 
$
—
Schedule of Realized Gains (Losses)
Gross realized gains and losses on debt securities available for sale were as follows:

 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Gross realized gains on sales
$
27

 
$
1

 
$
74

 
$
3

Gross realized losses on sales
(2
)
 
(5
)
 
(7
)
 
(20
)
Net gains (losses) recognized on debt securities available for sale
$
25

 
$
(4
)
 
$
67

 
$
(17
)
 
 
 
 
 
 
 
 
Gross realized losses on other-than-temporary impairments
$
(6
)
 
$
(161
)
 
$
(11
)
 
$
(972
)
 

 

 

 
Equity Securities at Fair Value
(b) Equity Securities at Fair Value
Equity securities at fair value consisted of the following:
 
September 30,
2019
 
December 31, 2018
Marketable equity securities
$
23,909

 
$
26,010

Mutual funds invested in fixed income securities
22,214

 
21,192

Total equity securities at fair value
$
46,123

 
$
47,202


The following is a summary of unrealized and realized net gains and losses recognized in net income on equity securities at fair value during the three and nine months ended September 30, 2019 and 2018, respectively:

 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Net (losses) gains recognized on equity securities (1)
$
(1,506
)
 
$
(797
)
 
$
5,545

 
$
(306
)
Less: Net gains (losses) recognized on equity securities sold (2)
58

 
(717
)
 
468

 
(534
)
Net unrealized (losses) gains recognized on equity securities still held at the reporting date
$
(1,564
)
 
$
(80
)
 
$
5,077

 
$
228

 
 
 
 
 
 
 
 
(1) 
Includes $781 of net losses and $405 of net gains recognized on equity securities at fair value that qualify for the net asset value (“NAV”) practical expedient during the three months ended September 30, 2019 and 2018, respectively, and $4,689 and $3,641 of net gains recognized on equity securities at fair value that qualify for the NAV practical expedient during the nine months ended September 30, 2019 and 2018, respectively. These equity securities are included in the “Long-term investments” line item on the condensed consolidated balance sheet and are further discussed in Note 6.
(2) 
Includes $84 of net gains recognized on sales of equity securities at fair value that qualify for the NAV practical expedient during the three months ended September 30, 2018, and $649 of gains and $84 of net gains recognized on sales of equity securities at fair value that qualify for the NAV practical expedient during the nine months ended September 30, 2019 and 2018, respectively. These equity securities are included in the “Long-term investments” line item on the condensed consolidated balance sheet and are further discussed in Note 6.