Investments in debt and equity securities

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments in debt and equity securities

Short-term and long-term investments

The Company’s short-term and long-term debt and equity investments, consisting of debt instruments classified as held-to-maturity and equity investments with readily determinable fair values or redemption values, were as follows:

	September 30, 2023						December 31, 2022
	Debt securities		Equity securities		Total		Debt securities		Equity securities		Total
Certificates of deposit and other time deposits	$	20,430	$	—	$	20,430	$	82,879	$	—	$	82,879
Investments in mutual funds and common stocks	—		36,603		36,603		—		39,143		39,143
	$	20,430	$	36,603	$	57,033	$	82,879	$	39,143	$	122,022
Short-term investments	$	5,419	$	6,294	$	11,713	$	67,872	$	9,821	$	77,693
Long-term investments	15,011		30,309		45,320		15,007		29,322		44,329
	$	20,430	$	36,603	$	57,033	$	82,879	$	39,143	$	122,022

Debt securities. The Company's short-term debt investments are principally bank certificates of deposit with contractual maturities longer than three months but shorter than one year. The Company's long-term debt investments are bank time deposits with contractual maturities longer than one year. These debt securities are accounted for as held-to-maturity and recorded at amortized cost, which approximated their fair values at September 30, 2023 and December 31, 2022.

Equity securities. The Company holds certain equity investments that have readily determinable fair values from public markets. The Company's remaining short-term and long-term equity investments are held within a trust to fund existing obligations associated with the Company’s non-qualified deferred compensation plans.