Investments and Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Investments and Fair Value of Financial Instruments
Investments and Fair Value of Financial Instruments
The components of our cash equivalents and short-term investments, including unrealized gains and losses associated with each are as follows (in thousands):
 
December 31, 2016
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair Value
Cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
11,126

 
$
—

 
$
—

 
$
11,126

Total cash equivalents
$
11,126

 
$
—

 
$
—

 
$
11,126

Short term investments:
 
 
 
 
 
 
 
Certificates of deposit, 90 days or greater
23,808

 
—

 
—

 
23,808

Total cash equivalents and short term investments
$
34,934

 
$
—

 
$
—

 
$
34,934



 
December 31, 2015
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair Value
Cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
24,116

 
$
—

 
$
—

 
$
24,116

Total cash equivalents
$
24,116

 
$
—

 
$
—

 
$
24,116

Short term investments:
 
 
 
 
 
 
 
Certificates of deposit, 90 days or greater
17,610

 
—

 
—

 
17,610

Total cash equivalents and short term investments
$
41,726

 
$
—

 
$
—

 
$
41,726




The following table represents the Company’s fair value hierarchy for its financial assets and liabilities (in thousands):

 
December 31, 2016
 
Fair Value
 
Level I
Cash equivalents:
 
 
 
Money market funds
$
11,126

 
$
11,126

Total financial assets
$
11,126

 
$
11,126


 
December 31, 2015
 
Fair Value
 
Level I
Cash equivalents:
 
 
 
Money market funds
$
24,116

 
$
24,116

Total financial assets
$
24,116

 
$
24,116


We hold money market funds that invest primarily in high-quality, short-term money market instruments, including certificates of deposit, banker’s acceptances, commercial paper and other money market securities. Investments in these funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
We held certificates of deposits, classified as cash equivalents or short-term investments, based on the original term. A certificate of deposit is a time deposit with a fixed term that is commonly offered by banks, thrifts, and credit unions. As of December 31, 2016 and 2015, the certificates of deposit held by us had a term of 365 days or less. All certificates of deposit held by us were within the insured limits of the FDIC.