Investments

12 Months Ended

Dec. 31, 2023

Investments

Investments

3. Investments

As of December 31, 2023 and 2022, the Company had investments of $98,031 and $61,295, respectively, classified as available-for sale securities.

As of December 31, 2023, the Company had available-for-sale investments comprised of the following:

	As of December 31, 2023
			Gross		Gross		Estimated
	Adjusted		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
Corporate bonds	$	79,085	$	243	$	(308)	$	79,020
Agency bonds		19,020		—		(9)		19,011
Total investments	$	98,105	$	243	$	(317)	$	98,031

For the year ended December 31, 2023 and 2022, the net unrealized gains and losses were $476 and $533, respectively, 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.

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

Available-for-sale securities maturing as of December 31:
2024	$	57,786
2025		26,003
2026		9,771
2027		4,471
Total	$	98,031