XML 33 R24.htm IDEA: XBRL DOCUMENT v3.23.1
Investments in Marketable Debt Securities, Available-for-Sale (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Allowance for Credit Losses, Gross Unrealized Gains/Losses in Accumulated Other Comprehensive Income/Loss and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security
Amortized cost, allowance for credit losses, gross unrealized gains (losses) in accumulated other comprehensive (loss) income and fair value of marketable debt securities, available-for-sale, by type of security consisted of the following (in thousands):
March 31, 2023
Amortized
Cost		Allowance
for Credit
Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses 		Fair
Value
Short-term investments:
U.S. treasuries$56,992 $— $8 $(561)$56,439 
Corporate debt75,935 — 5 (97)75,843 
Asset-backed securities (“ABS”) and other251 — — (13)$238 
$133,178 $— $13 $(671)$132,520 
Long-term investments:
U.S. treasuries$18,083 $— $— $(501)$17,582 
U.S. government sponsored entities586 — — (56)530 
Corporate debt45,869 — 72 (2,368)43,573 
ABS and other9,285 — 10 (487)8,808 
$73,823 $— $82 $(3,412)$70,493 
December 31, 2022
Amortized
Cost		Allowance
for Credit
Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Short-term investments:
U.S. treasuries$135,688 $— $14 $(1,153)$134,549 
Corporate debt118,135 — 1 (95)118,041 
ABS and other859 — — (15)$844 
$254,682 $— $15 $(1,263)$253,434 
Long-term investments:    
U.S. treasuries$21,434 $— $— $(719)$20,715 
U.S. government sponsored entities602 — — (66)536 
Corporate debt44,214 — 21 (2,877)41,358 
ABS and other6,569 — — (583)5,986 
$72,819 $— $21 $(4,245)$68,595 
Available-for-sale Marketable Debt Securities in a Continuous Unrealized Loss Position
The Company’s investments in marketable debt securities, available-for-sale, that have been in a continuous unrealized loss position, for which an allowance for credit losses has not been recorded, by type of security consisted of the following (in thousands):
March 31, 2023
Less than 12 months 12 months or greater Total
Fair
Value		Gross
Unrealized
Losses 		Fair
Value		Gross
Unrealized
Losses 		Fair
Value		Gross
Unrealized
Losses
U.S. treasuries$40,966 $(740)$10,973 $(322)$51,939 $(1,062)
U.S. government sponsored entities— — 528 (56)528 (56)
Corporate debt81,967 (500)22,814 (1,965)104,781 (2,465)
ABS and other2,222 (25)5,699 (475)7,921 (500)
$125,155 $(1,265)$40,014 $(2,818)$165,169 $(4,083)

December 31, 2022
Less than 12 months 12 months or greater Total
Fair
Value		Gross
Unrealized
Losses 		Fair
Value		Gross
Unrealized
Losses 		Fair
Value		Gross
Unrealized
Losses
U.S. treasuries$73,055 $(1,232)$66,144 $(640)$139,199 $(1,872)
U.S. government sponsored entities447 (46)87 (20)534 (66)
Corporate debt130,816 (1,909)10,681 (1,063)141,497 (2,972)
ABS and other4,710 (314)2,091 (284)6,801 (598)
$209,028 $(3,501)$79,003 $(2,007)$288,031 $(5,508)
Gross Realized Gains and Losses from Sale of Available for Sale Marketable Debt Securities
Gross realized gains and losses from the sales of the Company’s marketable debt securities, available-for-sale, consisted of the following (in thousands):
Three Months Ended
March 31,
20232022
Gross realized gains (1)
$— $113 
Gross realized losses (1)
$— $— 
(1)Recorded in other income, net in the condensed consolidated statements of operations. The cost basis of securities sold were determined based on the specific identification method.
Amortized Cost and Fair Value of Marketable Debt Securities, Available-for-Sale, by Contractual Maturity
Amortized cost and fair value of marketable debt securities, available-for-sale, by contractual maturity consisted of the following (in thousands, except weighted average data):
March 31, 2023December 31, 2022
Amortized
 Cost		Fair ValueAmortized
 Cost		Fair Value
Due in one year or less$133,179 $132,520 $254,683 $253,434 
Due after one year through five years55,922 54,034 56,507 54,169 
Due after five years through ten years14,067 12,867 13,435 11,850 
Due after ten years3,833 3,592 2,876 2,576 
$207,001 $203,013 $327,501 $322,029 
Weighted average contractual maturity1.9 years1.1 years