MARKETABLE SECURITITES

6 Months Ended

Jun. 30, 2020

MARKETABLE SECURITIES:

Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at June 30, 2020, were as follows:


	Amortized Cost		Gross Unrealized								Estimated Fair Market Value
(In thousands)					Gains			Losses
Investments due in 3 months or less:
Commercial paper	$	2,996	$	—		$	—		$	2,996
Corporate securities	25,030		77			—			25,107
Total	28,026		77			—			28,103
Investments due in 4-12 months:

Corporate securities	133,251		1,597			—			134,848
Total	133,251		1,597			—			134,848
Investments due in 12 months or greater:
Corporate securities	31,082		523			—			31,605

Total	31,082		523			—			31,605
Total marketable securities	$	192,359	$	2,197		$	—		$	194,556

Accrued interest receivable was $1.1 million at June 30, 2020 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet.

Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2019, were as follows:


	Amortized Cost		Gross Unrealized								Estimated Fair Market Value
(In thousands)					Gains			Losses
Investments due in 3 months or less:

Corporate securities	$	15,934	$	18		$	—		$	15,952
Total	15,934		18			—			15,952
Investments due in 4-12 months:

Corporate securities	71,223		269			—			71,492
Total	71,223		269			—			71,492
Investments due in 12 months or greater:
Corporate securities	144,658		302			(6)			144,954
Total	144,658		302			(6)			144,954
Total marketable securities	$	231,815	$	589		$	(6)		$	232,398

Accrued interest receivable was $1.3 million at December 31, 2019 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet.

As of June 30, 2020 the Company had no marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded. The following table summarizes marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at December 31, 2019:


	Less Than 12 Months						12 Months or Longer						Total
(In thousands)	Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses




December 31, 2019
Corporate securities	$	13,069	$	(6)	$	—	$	—	$	13,069	$	(6)
Total marketable securities	$	13,069	$	(6)	$	—	$	—	$	13,069	$	(6)

In the three and six months ended June 30, 2020, no unrealized losses on marketable securities were recognized in income.