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Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2025
Financial Instruments  
Schedule of available-for-sale securities

September 30, 2025

December 31, 2024

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
Loss

    

Estimated Fair Value

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
Loss

 

Estimated Fair Value

(in thousands)

 

Cash, cash equivalents and restricted cash (2)

$

1,041,438

$

$

$

1,041,438

$

945,587

$

$

$

945,587

Municipal securities (1)

1,000

1,000

23,019

(330)

22,689

Total

$

1,042,438

$

$

$

1,042,438

$

968,606

$

$

(330)

$

968,276

Classified as:

Cash, cash equivalents and restricted cash (2)

1,041,438

945,587

Short-term investments

1,000

22,689

Total

$

1,042,438

$

968,276

(1)Per the Company’s investment policy, all debt securities are classified as short-term investments irrespective of holding period.  
(2)Cash equivalents includes liquid demand deposits and money market funds.