Quarterly report pursuant to Section 13 or 15(d)

Cash and Cash Equivalents

Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

4. Cash and Cash Equivalents

Cash equivalents are highly liquid investments that are readily convertible into cash with original maturities of three months or less when purchased. Unrealized gains or losses are included in accumulated other comprehensive gain (loss). Premiums or discounts from par value are amortized to other (expense) income over the life of the underlying security.

Cash and cash equivalents consisted of the following at March 31, 2021 and December 31, 2020 (in thousands):

			Unrealized		Unrealized		Fair
March 31, 2021	Amortized Cost		Gains		Losses		Value
Cash and cash equivalents:
Cash and money market funds	$	222,142	$	—	$	—	$	222,142
Total:	$	222,142	$	—	$	—	$	222,142

			Unrealized		Unrealized		Fair
December 31, 2020	Amortized Cost		Gains		Losses		Value
Cash and cash equivalents:
Cash and money market funds	$	173,984	$	—	$	—	$	173,984
Total:	$	173,984	$	—	$	—	$	173,984

Although available to be sold to meet operating needs or otherwise, securities are generally held through maturity. The cost of securities sold is determined based on the specific identification method for purposes of recording realized gains and losses. During the three months ended March 31, 2021 and 2020, there were no realized gains or losses on sales of investments, and no investments were adjusted for other-than-temporary declines in fair value.