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Investments in Marketable Securities
 12 Months Ended
Dec. 31, 2023
Investments in Marketable Securities [Abstract]  
Investments in Marketable Securities

Note 5. Investments in Marketable Securities


For the years ended December 31, 2022 and 2021, the Company’s investments in marketable securities were determined to be trading securities and were comprised of fixed income mutual funds, reported at fair value, with gains or losses resulting from changes in fair value recognized within net income in the Consolidated Statements of Operations and Comprehensive Loss. In the fourth quarter of 2023, these trading securities were sold. The Company reinvested the funds received from the sale in marketable securities deemed to be available-for-sale securities. Gross unrealized gains or losses resulting from changes in available-for-sale securities for the year ended December 31, 2023 were deemed immaterial.


Dividend income from marketable securities, realized and unrealized gain (loss) on marketable securities, net, related to the Company’s trading securities for the year ended December 31, 2023, 2022 and 2021 were as follows (in thousands):

   
2023
    
2022
    
2021
  
Dividend income from marketable securities
  
$
9,536
    
$
5,301
    
$
2,549
  
Gain (loss) on marketable securities, net
  
$
5,587
    
$
(20,603
)
  
$
(5,023
)

The following is a summary of the Company’s available-for-sale securities recorded within Marketable securities in the Consolidated Balance Sheets as of December 31, 2023 (in thousands):

   
December 31, 2023
  
   
Amortized
Costs
    
Gross
Realized
Gains
    
Gross
Unrealized
Gains
    
Fair
Value
  
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
82,625
    
$
-
    
$
15
    
$
82,640
  
Commercial paper
    
41,229
      
-
      
7
      
41,236
  
Total
  
$
123,854
    
$
-
    
$
22
    
$
123,876
  

As of December 31, 2023, the fair values of the Company’s available-for-sale securities included within Marketable securities in the Consolidated Balance Sheets, by remaining contractual maturity, are as follows (in thousands):

   
December 31, 2023
  
   
One Year
or Less
    
Over
One Year
Through
Five Years
    
Over
Five Years
    
Total
  
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
82,640
    
$
-
    
$
-
    
$
82,640
  
Commercial paper
    
41,236
      
-
      
-
      
41,236
  
Total
  
$
123,876
    
$
-
    
$
-
    
$
123,876