Investment in Debt Securities (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-Sale

The cost basis and fair value of available-for-sale debt securities with unrealized gains and losses included in “Accumulated other comprehensive loss” in the consolidated balance sheets were as follows (in thousands):

	September 30, 2023						December 31, 2022
Available-for-sale securities	Cost Basis		Unrealized Gains/(Losses), net		Fair Value		Cost Basis		Unrealized Gains/(Losses), net		Fair Value
Government debt
U.S. treasury bonds	22,600		78		22,678		141,003		59		141,062
Total available-for-sale securities	$	22,600	$	78	$	22,678	$	141,003	$	59	$	141,062

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

	September 30, 2023				December 31, 2022
Available-for-sale securities in an unrealized loss position	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Government debt
U.S. treasury bonds:
Less than 12 months(1)	$	—	$	—	$	39,574	$	(381)
12 months or more(1)	—		—		—		—
Total available-for-sale securities	$	—	$	—	$	39,574	$	(381)
(1) Indicates the length of time that individual securities have been in a continuous unrealized loss position.

Investments Classified by Contractual Maturity Date

The cost basis and fair value of available-for-sale debt securities at September 30, 2023, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to prepay and creditors may have the right to call obligations.

	September 30, 2023
	Cost Basis		Fair Value
Due in one year or less	$	22,600	$	22,678
Due after one year through five years	—		—
Total debt securities - available-for-sale	$	22,600	$	22,678