Changes in Accumulated Other Comprehensive Loss by Component

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss by Component

Note 5 — Changes in Accumulated Other Comprehensive Loss by Component

For the years ended December 31, 2024, 2023 and 2022, the Company’s accumulated other comprehensive loss consisted of unrealized gains and losses from the Company’s available-for-sale marketable securities and restricted marketable securities. The following tables provide a summary of the changes in accumulated other comprehensive loss, net of taxes:

	Unrealized Gains and (Losses) on Available-for-Sale Securities1
	Year Ended December 31,
	2024		2023		2022
	(in thousands)
Accumulated other comprehensive (loss) income — beginning balance	$	(1,844)	$	(3,477)	$	4,000
Other comprehensive (loss) income before reclassifications	(753)		1,624		(7,505)
Losses reclassified from other comprehensive (loss) income²	280		9		28
Net current period other comprehensive (loss) income³	(473)		1,633		(7,477)
Accumulated other comprehensive loss — ending balance	$	(2,317)	$	(1,844)	$	(3,477)

1.All amounts are net of tax.

2.Realized gains and losses were recorded pre-tax under “Investment and other income (loss), net” in the Consolidated Statements of Comprehensive Income. For the year ended December 31, 2024, the Company recorded $0.4 million of realized losses from the sale of available-for-sale securities. For the years ended December 31, 2023 and 2022, the Company recorded less than $0.1 million of realized losses from the sale of available-for-sale securities. Refer to Note 9 — Fair Value Measurements herein for further information.

3.For the year ended December 31, 2024, the change in accumulated other comprehensive loss was net of a tax benefit of $0.1 million. For the years ended December 31, 2023 and 2022, the changes in accumulated other comprehensive loss were net of a tax expense of $0.4 million and benefit of $2.0 million, respectively.

	Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income
	Year Ended December 31,
	2024		2023		2022
	(in thousands)
Losses from the sale of available-for-sale securities	$	(355)	$	(12)	$	(37)
Tax benefit	75		3		9
Net loss reclassified from accumulated other comprehensive income	$	(280)	$	(9)	$	(28)