Investments in debt and equity securities

3 Months Ended

Mar. 31, 2025

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 investments, consisting of debt instruments classified as held-to-maturity and equity investments with readily determinable fair values or redemption values, were as follows:

	March 31, 2025						December 31, 2024
	Debt securities		Equity securities		Total		Debt securities		Equity securities		Total
Certificates of deposit and other time deposits	$	68,863	$	—	$	68,863	$	44,158	$	—	$	44,158
Investments in mutual funds and common stocks	—		35,746		35,746		—		40,566		40,566
	$	68,863	$	35,746	$	104,609	$	44,158	$	40,566	$	84,724
Short-term investments	$	68,863	$	4,300	$	73,163	$	44,158	$	6,906	$	51,064
Long-term investments	—		31,446		31,446		—		33,660		33,660
	$	68,863	$	35,746	$	104,609	$	44,158	$	40,566	$	84,724

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. Typically, any 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 March 31, 2025 and December 31, 2024.

Equity securities. Substantially all of the Company's 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.