; ForgeRock, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cash Equivalents and Short-Term Investments

v3.22.0.1
Cash Equivalents and Short-Term Investments
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Short-Term Investments Cash Equivalents and Short-Term Investments
The amortized cost, unrealized loss and estimated fair value of the Company’s cash equivalents and short-term investments as of December 31, 2021 were as follows (in thousands):
December 31, 2021
Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value
Cash Equivalents:
Money market funds $ 98,333  $ —  $ —  $ 98,333 
Total cash equivalents 98,333  —  —  98,333 
Short-term investments
Commercial paper 78,448  —  —  $ 78,448 
U.S. treasury bonds 26,292  —  (152) 26,140 
Asset-backed securities 51,586  —  (158) 51,428 
Corporate debt securities 85,085  —  (281) 84,804 
Short-term investments 241,411  —  (591) 240,820 
Total $ 339,744  $ —  $ (591) $ 339,153 
The Company had $79.9 million in money market funds and zero in short-term investments at December 31, 2020.
The following table presents the contractual maturities of the Company’s short-term investments as of December 31, 2021 (in thousands):
December 31, 2021
Amortized Cost Estimated Fair Value
Due within one year $ 142,868  $ 142,786 
Due between one to five years 98,543  98,034 
Total $ 241,411  $ 240,820 
As of December 31, 2021, the Company did not have any unsettled purchases or unsettled maturities of short-term investments.
The Company had short-term investments with a market value of $163.0 million in unrealized loss positions as of December 31, 2021. There were no material gross unrealized gains or losses from available-for-sale securities and no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive income for the year ended December 31, 2021.
For available-for-sale debt securities that have unrealized losses, the Company evaluates whether (i) the Company has the intention to sell any of these investments, (ii) it is not more likely than not that the Company will be required to sell any of these available-for-sale debt securities before recovery of the entire amortized cost basis and (iii) the decline in the fair value of the investment is due to credit or non-credit related factors. Based on this evaluation, the Company determined that for short-term investments, there were no material credit or non-credit related impairments as of December 31, 2021.