General form of registration statement for all companies including face-amount certificate companies

SHORT TERM INVESTMENTS

v3.20.4
SHORT TERM INVESTMENTS
 12 Months Ended
Dec. 31, 2019
SHORT TERM INVESTMENTS  
SHORT TERM INVESTMENTS

8. SHORT‑TERM INVESTMENTS

The Company invests its excess cash in fixed income instruments denominated and payable in U.S. dollars including U.S. treasury securities, corporate bonds and asset‑backed securities in accordance with the Company’s investment policy that primarily seeks to maintain adequate liquidity and preserve capital.

The Company has designated all investments as available‑for‑sale and therefore such investments are reported at fair value. Unrealized gains or losses on investments are recorded in accumulated other comprehensive gain (loss), a component of stockholders’ equity.

The following table summarizes the Company’s short‑term investments (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

    

Amortized Cost

    

Unrealized Gains

    

Unrealized Losses

    

Fair Value

Asset‑backed securities

 

$

16,786

 

$

20

 

$

 —

 

$

16,806

Corporate bonds

 

 

67,893

 

 

55

 

 

 —

 

 

67,948

 

 

$

84,679

 

$

75

 

$

 —

 

$

84,754

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

    

Amortized Cost

    

Unrealized Gains

    

Unrealized Losses

    

Fair Value

Asset‑backed securities

 

$

13,350

 

$

 —

 

$

(65)

 

$

13,285

Corporate bonds

 

 

50,975

 

 

 —

 

 

(31)

 

 

50,944

 

 

$

64,325

 

$

 —

 

$

(96)

 

$

64,229