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INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2020
INVESTMENTS  
Summary of investments in available-for-sale

Continuous

Continuous

Gross

Gross

Unrealized

Unrealized

Unrealized

Unrealized

Loss Position

Loss Position

Amortized

Holding

Holding

Fair

less than 12

greater than 12

September 30, 2020

    

Cost

    

Gains

    

Losses

    

Value

    

Months

    

Months

Available-for-sale

Short-term:

Commercial paper

$

91,445

$

$

$

91,445

$

$

Certificates of deposit

19,959

19,959

U.S. government agency securities

 

66,435

 

21

 

3

 

66,453

 

3

 

U.S. treasuries

421,093

398

22

421,469

22

Long-term:

U.S. government agency securities

10,205

1

10,204

1

U.S. treasuries

10,370

3

10,367

3

Total

$

619,507

$

419

$

29

$

619,897

$

29

$

Continuous

Continuous

Gross

Gross

Unrealized

Unrealized

Unrealized

Unrealized

Loss Position

Loss Position

Amortized

Holding

Holding

Fair

less than 12

greater than 12

December 31, 2019

    

Cost

    

Gains

    

Losses

    

Value

    

Months

    

Months

Available-for-sale

Short-term:

Commercial paper

$

83,478

$

$

$

83,478

$

$

Certificates of deposit

28,049

28,049

Municipal securities

 

147,983

 

145

 

20

 

148,108

 

20

 

U.S. government agency securities

 

40,620

 

5

 

35

 

40,590

 

35

 

U.S. treasuries

211,055

134

31

211,158

31

Variable rate demand notes

 

21,680

 

 

 

21,680

 

 

Long-term:

Municipal securities

1,562

1

1,561

1

U.S. government agency securities

5,267

1

5,266

1

U.S. treasuries

6,077

1

6,078

Total

$

545,771

$

285

$

88

$

545,968

$

88

$

Summary of the underlying contractual maturities of investments

September 30, 2020

December 31, 2019

    

Amortized Cost

    

Fair Value

    

Amortized Cost

    

Fair Value

Less than 1 year:

Commercial paper

$

91,445

$

91,445

 

$

83,478

$

83,478

Municipal securities

 

 

 

 

147,983

 

148,108

U.S. government agency securities

 

66,435

 

66,453

 

 

40,620

 

40,590

Certificates of deposit

 

19,959

 

19,959

 

 

28,049

 

28,049

U.S. treasuries

421,093

421,469

211,055

211,158

Due 1 -10 years:

Municipal securities

 

 

 

 

1,562

 

1,561

U.S. treasuries

10,370

10,367

6,077

6,078

U.S. government agency securities

 

10,205

 

10,204

 

 

5,267

 

5,266

Variable rate demand notes

3,905

3,905

Due 11 - 20 years:

Variable rate demand notes

 

 

 

 

8,886

 

8,886

Due 21 - 30 years:

Variable rate demand notes

 

 

 

 

6,885

 

6,885

Due 31 - 40 years:

Variable rate demand notes

2,004

2,004

Total

$

619,507

$

619,897

 

$

545,771

$

545,968