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v3.23.1

Investments | 3 Months Ended
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Mar. 31, 2023
Investments |
Investments | Note 8. Investments ​ A summary of the Company’s investments that are classified as held-to-maturity are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | Value
​ | ​ | (in thousands)
Corporate and agency bonds (due within 1 year) | ​ | $ | 19,101 | ​ | $ | — | ​ | $ | (29) | ​ | $ | 19,072
Municipal bonds (due within 1 year) | ​ | ​ | 878 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 878
Total investments as of March 31, 2023 | ​ | $ | 19,979 | ​ | $ | — | ​ | $ | (29) | ​ | $ | 19,950
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate and agency bonds (due within 1 year) | ​ | $ | 21,612 | ​ | $ | — | ​ | $ | (60) | ​ | $ | 21,552
Municipal bonds (due within 1 year) | ​ | ​ | 1,903 | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | 1,901
Total investments as of December 31, 2022 | ​ | $ | 23,515 | ​ | $ | — | ​ | $ | (62) | ​ | $ | 23,453
​ At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, identifying neither a significant deterioration since purchase nor any other factors that would indicate a material credit loss. ​ The Company measures expected credit losses on held-to-maturity investments on a collective basis. All the Company’s held-to-maturity investments were considered to be one pool. The estimate for credit losses considers historical loss information that is adjusted for current conditions and reasonable and supportable forecasts. Expected credit losses on held-to-maturity investments were not material to the condensed consolidated financial statements. ​ Investment in unconsolidated affiliate ​ The Company accounts for its share of the earnings or losses of its unconsolidated affiliate (Hanxin) with a reporting lag of three months, as the financial statements of Hanxin are not completed on a basis that is sufficient for the Company to apply the equity method on a current basis. The Company’s share of Hanxin’s losses for the three months ended March 31, 2023 and 2022 was $0.8 million and $0.7 million, respectively, which was recorded in the “Equity in losses of unconsolidated affiliate” line on the condensed consolidated statement of operations.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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