AKAO 2017 Annual Report

118 Financial instruments Financial assets and liabilities measured and recognized at fair value on a recurring basis were as follows (in thousands): As of December 31, 2017: December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Level 1: Restricted cash ..................................................... 9,746 — — 9,746 Money market funds ............................................ 58,769 — — 58,769 U.S. Treasury bills ............................................... 4,992 — — 4,992 Subtotal........................................................... 73,507 — — 73,507 Level 2: Commercial paper ................................................ 46,040 — — 46,040 U.S. agency securities .......................................... 4,990 — — 4,990 Other debt securities............................................. 50,000 — — 50,000 Subtotal........................................................... 101,030 — — 101,030 Total................................................................ $ 174,537 $ — $ — $ 174,537 Reported as: Cash and cash equivalents .................................... $ 145,219 Short-term investments......................................... $ 19,572 Restricted cash...................................................... $ 9,746 Liabilities, Level 3 Warrant Liability .................................................. $ 9,774 Derivative Liability .............................................. $ 686 Total...................................................................... $ 10,460