Marketable Securities

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable securities

As of September 30, 2023, the Company had $39,788 of trading securities and $499,719 of available-for-sale securities (December 31, 2022 – $276,642 and $386,885, respectively). Amortized cost, unrealized losses recognized in accumulated other comprehensive loss and fair value of available-for-sale securities consisted of the following:


	September 30, 2023							December 31, 2022
	Amortized Cost		Unrealized Loss			Fair Value		Amortized Cost		Unrealized Loss			Fair Value
Contractual maturity of 0 to 1 years:
Guaranteed investment certificates	$	7,434	$	(51	)	$	7,383	$	14,953	$	—		$	14,953
U.S. treasuries		196,336		(928	)		195,408		78,880		(837	)		78,043
U.S. government securities		76,872		(314	)		76,558		5,793		(20	)		5,773
Commercial paper		85,114		(73	)		85,041		150,560		—			150,560
Corporate debt securities		22,980		(58	)		22,922		8,942		(68	)		8,874
Contractual maturity of 1 to 3 years:
U.S. treasuries		29,435		(138	)		29,297		60,354		(958	)		59,396
U.S. government securities		26,682		(278	)		26,404		26,741		(35	)		26,706
Corporate debt securities		56,829		(123	)		56,706		42,672		(92	)		42,580
Total	$	501,682	$	(1,963	)	$	499,719	$	388,895	$	(2,010	)	$	386,885

Allowance for credit losses or impairment on these marketable securities have not been recognized as these securities are high credit quality, investment grade securities that the Company does not intend to sell and will not be required to sell prior to their anticipated recovery, and the decline in fair value is primarily due to changes in interest rates.