Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments

Schedule of gross unrealized gains and losses, and the amortized cost, allowance for credit losses, and fair value of those investments classified as available-for-sale

The amortized cost, gross unrealized gains and losses, fair value of those investments classified as available-for-sale, and allowance for credit losses at December 31, 2022 are summarized as follows (in thousands):

		December 31, 2022
	Amortized		Gross		Gross		Fair		Allowance for
	Cost		Unrealized Gains		Unrealized Losses		Value		Credit Losses
Corporate bonds	$	200,735	$	7	$	(7,109)	$	193,633		—
U.S. Treasuries		1,154,879		111		(15,680)		1,139,310		—
Total	$	1,355,614	$	118	$	(22,789)	$	1,332,943	$	—

Schedule of investments classified as equity securities

The cost, gross unrealized gains and losses, and fair value of those investments classified as equity securities at December 31, 2022 are summarized as follows (in thousands):

	December 31, 2022
			Gross		Gross		Fair
		Cost	Unrealized Gains		Unrealized Losses		Value
Fixed income mutual funds	$	70,257	$	—	$	(2,620)	$	67,637
Exchange traded mutual funds		75,999		—		(8,800)		67,199
Total	$	146,256	$	—	$	(11,420)	$	134,836

Schedule of the amortized cost and fair value of investments classified as available-for-sale, by contractual maturity

A summary of the amortized cost and fair value of investments classified as available-for-sale, by contractual maturity, as of December 31, is as follows (in thousands):

	December 31, 2023				December 31, 2022
		Amortized	Fair			Amortized	Fair
Maturity:		Cost	Value			Cost	Value
Less than 12 months	$	—	$	—	$	1,045,120	$	1,039,333
12 months or greater		—		—		310,494		293,610
Total	$	—	$	—	$	1,355,614	$	1,332,943

Summary of investments under the equity method

As of December 31, 2023 and December 31, 2022, the Company accounted for the following investments in the investee’s common stock under the equity method, which are included in the investments in non-consolidated entities and non-marketable equity securities on the consolidated balance sheets (amounts in thousands):

		As of December 31, 2023			As of December 31, 2022
	Formation	Common Stock	Carrying		Common Stock	Carrying
Investee	Date	Ownership %	Value		Ownership %	Value
HyVia	Q2 2021	50%	$	(2,068)	50%	$	11,281
AccionaPlug S.L.	Q4 2021	50%		3,198	50%		2,225
Clean H2 Infra Fund	Q4 2021	5%		13,357	5%		3,922
SK Plug Hyverse	Q1 2022	49%		41,609	49%		8,937
			$	56,096		$	26,365

Schedule Of capital commitments

The Company had the following capital commitments related to its equity method investments as of December 31 as follows (in thousands):

2024	$	152,672
2025		17,300
Total	$	169,972