Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Investments

Investments consist of the following as of December 31, 2025 and 2024 (dollars in thousands):

	December 31, 2025
			Gross Unrealized
	Cost		Gain		(Loss)			Fair Value
Short-term investments (available-for-sale):
Non-governmental debt securities	$	329,108	$	1,105	$	(112	)	$	330,101
Treasury and federal agencies		180,631		529		(50	)		181,110
Total short-term investments (available-for-sale)	$	509,739	$	1,634	$	(162	)	$	511,211

	December 31, 2024
			Gross Unrealized
	Cost		Gain		(Loss)			Fair Value
Short-term investments (available-for-sale):
Non-governmental debt securities	$	246,070	$	466	$	(278	)	$	246,258
Treasury and federal agencies		213,394		258		(115	)		213,537
Total short-term investments (available-for-sale)	$	459,464	$	724	$	(393	)	$	459,795

Schedule of Available-for-Sale Investments

A schedule of available-for-sale investments segregated by their original stated terms to maturity as of December 31, 2025 and 2024 are as follows (dollars in thousands):

	Less than one year		One to five years		Total
Original stated term to maturity of available-for-sale-    investments as of December 31, 2025	$	35,240	$	475,971	$	511,211
Original stated term to maturity of available-for-sale-    investments as of December 31, 2024	$	57,206	$	402,589	$	459,795

Summary of Financial Instruments Measured at Fair Value on Recurring Basis

Financial instruments measured at fair value on a recurring basis subject to the disclosure requirements of FASB ASC Topic 820 - Fair Value Measurements at December 31, 2025 and December 31, 2024 were as follows (dollars in thousands):

	As of December 31, 2025
	Level 1		Level 2		Total
Cash and cash equivalents - money market funds	$	20,202	$	-	$	20,202
Short-term investments - non-governmental debt securities		-		330,101		330,101
Short-term investments - treasury and federal agencies		-		181,110		181,110
Totals	$	20,202	$	511,211	$	531,413
	As of December 31, 2024
	Level 1		Level 2		Total
Cash and cash equivalents - money market funds	$	30,189	$	-	$	30,189
Cash and cash equivalents - federal agency debt securities		-		13,078		13,078
Short-term investments - non-governmental debt securities		-		246,258		246,258
Short-term investments - treasury and federal agencies		-		213,537		213,537
Totals	$	30,189	$	472,873	$	503,062

Schedule of Maintenance Fee Payment to our equity affiliate

We made periodic operating maintenance payments to our former equity affiliate. The total related party fees recorded for the years ended December 31, 2025, 2024 and 2023 were as follows (dollars in thousands):

For the year ended December 31, 2025 (1)	$	1,663
For the year ended December 31, 2024	$	1,727
For the year ended December 31, 2023	$	1,672

________________

(1) Maintenance payments incurred up to the date of sale.