INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

The portion of gains and losses included in Cadence’s condensed consolidated income statements related to equity securities still held at the end of the period were as follows:


	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(In thousands)
Net gains (losses) recognized on equity securities	$	25,351	$	(647)	$	80,749	$	(525)
Less: Net gains (losses) recognized on equity securities sold	—		—		(20,367)		—
Net gains (losses) recognized on equity securities still held	$	25,351	$	(647)	$	60,382	$	(525)

Unrealized Gain (Loss) on Investments

The following is a summary of Cadence’s available-for-sale debt securities recorded within prepaid expenses and other on its condensed consolidated balance sheets:


	As of June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Available-for-sale debt securities
Mortgage-backed and asset-backed securities	$	50,624	$	165	$	(612)	$	50,177

Total available-for-sale securities	$	50,624	$	165	$	(612)	$	50,177


	As of December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Available-for-sale debt securities
Mortgage-backed and asset-backed securities	$	49,653	$	375	$	(243)	$	49,785

Total available-for-sale securities	$	49,653	$	375	$	(243)	$	49,785

Investments Classified by Contractual Maturity Date

As of June 30, 2024, the fair values of available-for-sale debt securities, by remaining contractual maturity, were as follows:


	(In thousands)
Due within 1 year	$	—
Due after 1 year through 5 years	11,227
Due after 5 years through 10 years	15,827
Due after 10 years	23,123
Total	$	50,177