CASH AND CASH EQUIVALENTS, AND OTHER INVESTMENTS
|9 Months Ended|
Sep. 30, 2018
|Notes to Financial Statements|
|NOTE F - CASH AND CASH EQUIVALENTS, AND OTHER INVESTMENTS||
The Company places cash investments in high quality financial institutions insured by the Federal Deposit Insurance Corporation ("FDIC"). At September 30, 2018, the Company maintained a cash balance of $25,541,000 in excess of FDIC limits.
The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents.
Cash and cash equivalents, and other investments as of September 30, 2018 and December 31, 2017 were composed of:
Other investments are classified as available-for-sale and are recorded at fair market value. Unrealized gains and losses are reported as other comprehensive income or loss. Realized gains and losses are reclassified from other comprehensive income or loss to net income or loss in the period they are realized.
The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef