Fair Value Measurements and Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis.

	June 30, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	6,884	$	77,001	$	—	$	83,885
Equity securities	—		11,941		—		11,941
Commingled fixed income securities	1,666		524		—		2,190
Government and related securities	2,377		12,786		—		15,163
Corporate debt securities	—		43,299		—		43,299
Mortgage-backed / asset-backed securities	—		90,366		—		90,366
Total assets	$	10,927	$	235,917	$	—	$	246,844

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	6,435	$	140,125	$	—	$	146,560
Equity securities	—		12,518		—		12,518
Commingled fixed income securities	1,612		534		—		2,146
Government and related securities	2,334		13,410		—		15,744
Corporate debt securities	—		42,159		—		42,159
Mortgage-backed / asset-backed securities	—		98,464		—		98,464
Total assets	$	10,381	$	307,210	$	—	$	317,591

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale securities consisted of the following:

	June 30, 2025
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Government and related securities	$	21,384	$	1	$	(6,222)	$	15,163
Corporate debt securities	49,876		—		(6,577)		43,299
Commingled fixed income securities	1,860		—		(194)		1,666
Mortgage-backed / asset-backed securities	111,460		—		(21,094)		90,366
Total	$	184,580	$	1	$	(34,087)	$	150,494

	December 31, 2024
	Amortized cost		Gross unrealized losses		Estimated fair value
Government and related securities	$	21,432	$	(5,688)	$	15,744
Corporate debt securities	50,367		(8,208)		42,159
Commingled fixed income securities	1,835		(223)		1,612
Mortgage-backed / asset-backed securities	123,289		(24,825)		98,464
Total	$	196,923	$	(38,944)	$	157,979

Schedule of Available-for-sale Securities

The fair value of available-for-sale securities is reported on our Condensed Consolidated Balance Sheet as follows:

	June 30, 2025		December 31, 2024
Short-term investments	$	3,922	$	3,926
Other assets	146,572		154,053
Total	$	150,494	$	157,979

Scheduled maturities of available-for-sale securities at June 30, 2025 were as follows:

	Amortized cost		Estimated fair value
Within 1 year	$	4,115	$	3,922
After 1 year through 5 years	21,035		18,947
After 5 years through 10 years	25,984		22,729
After 10 years	133,446		104,896
Total	$	184,580	$	150,494

Schedule of Unrealized Holding Losses

Investment securities in a loss position were as follows:

	June 30, 2025				December 31, 2024
	Fair Value		Gross unrealized losses		Fair Value		Gross unrealized losses
Greater than 12 continuous months
Government and related securities	$	15,163	$	6,222	$	15,744	$	5,688
Corporate debt securities	43,299		6,577		39,845		8,206
Commingled fixed income securities	1,666		194		—		—
Mortgage-backed / asset-backed securities	90,366		21,094		98,464		24,825
Total	$	150,494	$	34,087	$	154,053	$	38,719
Less than 12 continuous months
Corporate debt securities	$	—	$	—	$	2,314	$	2
Commingled fixed income securities	—		—		1,612		223
Total	$	—	$	—	$	3,926	$	225

Schedule of Fair Value, by Balance Sheet Grouping

The carrying value and estimated fair value of debt was as follows:

	June 30, 2025		December 31, 2024
Carrying value	$	1,896,715	$	1,919,708
Fair value	$	1,811,613	$	1,823,430