|12 Months Ended|
Dec. 31, 2020
|Investments Debt And Equity Securities [Abstract]|
4. Available-for-Sale Securities
The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in the Company’s consolidated balance sheets as of December 31, 2020 and 2019 (in thousands):
The Company has not recognized an allowance for credit losses on any securities in an unrealized loss position as of December 31, 2020 and 2019.
The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of December 31, 2020 and 2019 (in thousands):
The Company believes that the individual unrealized losses represent temporary declines primarily resulting from interest rate changes, and intends to hold these marketable securities to their maturities.
As of December 31, 2020, the amortized cost and estimated fair value of the Company’s available-for-sale securities by contractual maturity are shown below (in thousands):
The Company currently does not intend to sell these securities prior to maturity and does not consider these investments to be other-than-temporarily impaired at December 31, 2020. There were no sales of available-for-sale securities in any of the periods presented.