2. Investments

12 Months Ended

Dec. 31, 2018

Investments Schedule [Abstract]

Investments

As of December 31, 2018 and 2017, we held certain investments that were required to be measured for disclosure purposes at fair value on a recurring basis. These investments were considered Level 1 or Level 2 investments as detailed in the table below.

The amortized cost and fair value of our investments and the related gross unrealized gains and losses were as follows as of the dates shown below (in thousands):

					Gross Unrealized
	Level		Cost		Gains		Losses			Fair value
As of December 31, 2018:
Short-term Investments:
Bonds		2	$	8,409	$	--	$	(13	)	$	8,396
Commercial Paper		2	$	1,275	$	--	$	--		$	1,275
Long-term Investments:
Bonds		2	$	17,513	$	--	$	(198	)	$	17,315
Mutual funds		1	$	795	$	--	$	(121	)	$	674
Equity investment		2	$	5,675	$	--	$	(2,814	)	$	2,861
As of December 31, 2017:
Short-term Investments:
Certificates of deposit		2	$	4,020	$	--	$	(3	)	$	4,017
Commercial paper		2	$	31,220	$	26	$	(38	)	$	31,208
Corporate bonds		2	$	6	$	--	$	--		$	6
Mutual funds		1	$	219	$	3	$	--		$	222
Long-term Investments:
Corporate bonds		2	$	5,000	$	--	$	(75	)	$	4,925
Equity investment		2	$	5,675	$	--	$	(1,539	)	$	4,136

The above short-term and long-term bonds represent investments in multiple issuers at December 31, 2018. The above equity investment represents an investment in one company at December 31, 2018 and is classified as available for sale. The carrying value of our investments is reviewed quarterly for changes in circumstances or the occurrence of events that suggest an investment may not be recoverable. The unrealized loss for our long-term bonds is attributable to a rise in interest rates which resulted in a lower market price for those securities. One of our bond investments has been in a loss position for more than 12 months due to the rise in interest rates. As of December 31, 2018 there were no changes in circumstances or events that would suggest our investments may not be recoverable. As a result, we recorded no impairment expense related to our investments during 2018.

At December 31, 2018, the length of time until maturity of the bonds we currently own ranged from 14 to 29.5 months and the length of time until maturity of the commercial paper ranged from 3.8 to 6.4 months.

Our accumulated other comprehensive loss at December 31, 2017 was comprised solely of unrealized losses on our above equity investment, net of tax.