Marketable Securities

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Marketable securities

As of March 31, 2024, the Company had $826,542 of available-for-sale securities (December 31, 2023 – trading securities of $13,867 and available-for-sale-securities of $768,364). Amortized cost, unrealized gain (loss) recognized in accumulated other comprehensive income (loss) and fair value of available-for-sale securities consisted of the following:


	March 31, 2024							December 31, 2023
	Amortized Cost		Unrealized Gain (Loss)			Fair Value		Amortized Cost		Unrealized Gain (Loss)			Fair Value
Contractual maturity of 0 to 1 years:
Guaranteed investment certificates	$	15,151	$	(83	)	$	15,068	$	7,549	$	135		$	7,684
U.S. treasuries		235,677		(235	)		235,442		192,193		(249	)		191,944
U.S. government securities		63,258		(222	)		63,036		98,092		(180	)		97,912
Commercial paper		183,218		(88	)		183,130		119,041		67			119,108
Corporate debt securities		143,924		106			144,030		58,824		100			58,924
Contractual maturity of 1 to 3 years:
U.S. treasuries		48,507		(185	)		48,322		53,294		243			53,537
Corporate debt securities		137,586		(72	)		137,514		238,458		797			239,255
Total	$	827,321	$	(779	)	$	826,542	$	767,451	$	913		$	768,364

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.