Investments

12 Months Ended

Dec. 31, 2022

Investments

Investments

3. Investments

As of December 31, 2022, the Company had investments of $61,295, classified as available-for sale securities. As of December 31, 2021, the Company had no investments.

As of December 31, 2022, the Company had available-for-sale investments comprised of the following:

	As of December 31, 2022
			Gross		Gross		Estimated
	Adjusted		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
Corporate bonds	$	61,996	$	17	$	(718)	$	61,295
Total investments	$	61,996	$	17	$	(718)	$	61,295

For the year ended December 31, 2022, the net unrealized losses were $533, net of taxes. Available-for-sale securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime expected credit losses for all available-for-sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our

consolidated income statements. As of December 31, 2021, there were no unrealized gains or losses for available-for sale debt securities as all matured or were sold by December 31, 2021.

Available-for-sale securities maturing as of December 31:

Available-for-sale securities maturing as of December 31:
2023	$	35,991
2024		15,444
2025		9,860
Total	$	61,295