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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Investments

Investments consist of the following as of June 30, 2022 and December 31, 2021 (dollars in thousands):

 

 

 

June 30, 2022

 

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gain

 

 

(Loss)

 

 

Fair Value

 

Short-term investments (available for sale):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal bonds

 

$

3,037

 

 

$

-

 

 

$

(1

)

 

$

3,036

 

Non-governmental debt securities

 

 

225,682

 

 

 

3

 

 

 

(2,032

)

 

 

223,653

 

Treasury and federal agencies

 

 

141,106

 

 

 

2

 

 

 

(957

)

 

 

140,151

 

Total short-term investments (available for sale)

 

$

369,825

 

 

$

5

 

 

$

(2,990

)

 

$

366,840

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gain

 

 

(Loss)

 

 

Fair Value

 

Short-term investments (available for sale):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal bonds

 

$

5,028

 

 

$

-

 

 

$

(1

)

 

$

5,027

 

Non-governmental debt securities

 

 

168,623

 

 

 

27

 

 

 

(184

)

 

 

168,466

 

Treasury and federal agencies

 

 

720

 

 

 

-

 

 

 

-

 

 

 

720

 

Total short-term investments (available for sale)

 

$

174,371

 

 

$

27

 

 

$

(185

)

 

$

174,213

 
Schedule of Maintenance Fee Payment to CCKF

We make periodic operating maintenance payments to CCKF related to proprietary rights that we use in our intellipath® personalized learning technology. The total fees recorded during the quarters and years to date ended June 30, 2022 and 2021 were as follows (dollars in thousands):

 

Maintenance Fee Payments

 

For the quarter ended June 30, 2022

$

394

 

For the quarter ended June 30, 2021

$

436

 

For the year to date ended June 30, 2022

$

827

 

For the year to date ended June 30, 2021

$

859