Cash and Cash Equivalents and Short-Term Investments

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Cash and Cash Equivalents and Short-Term Investments

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS:

	September 30,
	2023		2022
Cash and Cash Equivalents	$	167,586	$	268,853
Restricted Cash - Current(1)	46,313		45,941
Restricted Cash - Non-current(1)	2,095		5,854
Cash and Cash Equivalents and Restricted Cash	$	215,994	$	320,648

(1) Restricted Cash - Current is included in Other Current Assets in the accompanying Consolidated Balance Sheets. Restricted Cash - Non-current is included in Other Noncurrent Assets, net in the accompanying Consolidated Balance Sheets.

During the nine months ended September 30, 2023, the Company invested in marketable debt securities, primarily comprised of highly liquid U.S. Treasury securities. The investments are held in the custody of financial institutions. These securities are classified as available-for-sale securities and have maturity dates ranging from October 2023 through July 2024, and thus are classified as current assets.

The Company's investments in available-for-sale securities are as follows:

	September 30, 2023
					Gross Unrealized
	Amortized Cost		Allowance for Credit Losses		Gains		Losses		Fair Value
U.S. Treasury Securities	$	81,073	$	—	$	—	$	(64)	$	81,009

Available-for-sale investments are reported at fair value and any unrealized gains or losses are recognized in other comprehensive income, net of tax. The unrealized losses in the Company's portfolio at September 30, 2023 are the result of normal market fluctuations. Interest and dividends are included in net income when earned.