The Company’s equity and debt securities consisted of the following:


	June 30, 2022
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities:
Long-term
Investment in private equity securities	$	15,000			—		—			15,000
Total equity securities		15,000			—		—			15,000
Available-for-sale debt securities
Short-term
U.S. government debt securities		142,434			—		(1,375	)		141,059
Corporate debt securities		127,706			—		(1,755	)		125,951
U.S. treasury bills		59,479			—		(218	)		59,261
Money market accounts		44,209			—		—			44,209
U.S. agency debt securities		32,507			—		(448	)		32,059
Yankee debt securities		11,286			—		(159	)		11,127
Municipal bonds		7,228			—		(63	)		7,165
Less: Cash equivalents		(44,209	)		—		—			(44,209	)
Total debt securities due within 1 year		380,640			—		(4,018	)		376,622
After 1 year through 5 years
U.S. government debt securities		223,050			15		(6,551	)		216,514
Corporate debt securities		137,742			—		(5,977	)		131,765
U.S. agency debt securities		52,340			—		(2,567	)		49,773
Municipal bonds		11,097			6		(208	)		10,895
Yankee debt securities		754			—		(80	)		674
Total debt securities due after 1 year through 5 years		424,983			21		(15,383	)		409,621
After 5 years through 10 years
Municipal bonds		6,172			—		(172	)		6,000
Redeemable preferred stock investment		20,000			—		(8,019	)		11,981
Total debt securities due after 5 years through 10 years		26,172			—		(8,191	)		17,981
Total available-for-sale debt securities		831,795			21		(27,592	)		804,224
Total equity and debt securities	$	846,795		$	21	$	(27,592	)	$	819,224


	December 31, 2021
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities:
Short-term
Bond funds	$	99,314		$	—	$	(515	)	$	98,799
Exchange traded funds		35,174			—		(174	)		35,000
Total equity securities		134,488			—		(689	)		133,799
Available-for-sale debt securities
Short-term
Corporate debt securities		92,116			24		(148	)		91,992
Money market accounts		77,067			—		—			77,067
U.S. government debt securities		51,318			—		(81	)		51,237
Municipal bonds		4,980			—		(12	)		4,968
Yankee debt securities		3,615			—		(6	)		3,609
Less: Cash equivalents		(77,067	)		—		—			(77,067	)
Total debt securities due within 1 year		152,029			24		(247	)		151,806
After 1 year through 5 years
Corporate debt securities		242,421			29		(1,913	)		240,537
U.S. Government debt securities		147,699			7		(786	)		146,920
U.S. agency debt securities		70,069			—		(535	)		69,534
Municipal bonds		11,920			13		(11	)		11,922
Yankee debt securities		8,633			—		(89	)		8,544
Total debt securities due after 1 year through 5 years		480,742			49		(3,334	)		477,457
After 5 years through 10 years
Municipal bonds		7,633			—		(43	)		7,590
Redeemable preferred stock investment		20,000			1,965		—			21,965
Total debt securities due after 5 years through 10 years		27,633			1,965		(43	)		29,555
Total available-for-sale debt securities		660,404			2,038		(3,624	)		658,818
Total equity and debt securities	$	794,892		$	2,038	$	(4,313	)	$	792,617

Gross unrealized losses on the Company’s equity and debt securities were $27.6 million as of June 30, 2022. Gross unrealized losses on the Company’s equity and debt securities were $4.3 million as of December 31, 2021. The Company did not recognize any credit losses during the three and six months ended June 30, 2022 and 2021.

The Company’s securities of $491.5 million are used as collateral for an outstanding margin account borrowing. As of June 30, 2022, the Company had an outstanding borrowing of $15.0 million under its margin account. Margin account borrowings were used for the purchase of real property located in El Monte, California in 2020.