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INVESTMENTS
12 Months Ended
Dec. 31, 2024
INVESTMENTS.  
INVESTMENTS

5.INVESTMENTS

The Company held no short-term or long-term investments at December 31, 2024. The following table summarizes the Company’s investments at December 31, 2023.

Continuous

Continuous

Gross

Gross

Unrealized

Unrealized

Unrealized

Unrealized

Loss Position

Loss Position

Amortized

Holding

Holding

Fair

less than 12

greater than 

December 31, 2023

    

Cost

    

Gains

    

Losses

    

Value

    

Months

    

12 Months

Available-for-sale

Short-term:

Commercial paper

$

163,775

$

$

1

$

163,774

$

1

$

Certificates of deposit

15,590

15,590

Municipal securities

 

361

361

U.S. government agency securities

 

116,524

 

90

 

66

 

116,548

 

66

 

U.S. treasuries

412,936

 

205

 

1,084

 

412,057

 

1,084

 

Corporate bonds

247,340

89

154

247,275

154

Long-term:

U.S. government agency securities

23,485

51

5

23,531

5

U.S. treasuries

35,896

79

8

35,967

8

Corporate bonds

16,903

32

2

16,933

2

Total

$

1,032,810

$

546

$

1,320

$

1,032,036

$

1,320

$

During the years ended December 31, 2024, 2023 and 2022, realized gains or losses recognized on the sale of investments were not significant.

The Company’s investments at December 31, 2023 carried investment grade credit ratings.

The Company held no short-term or long-term investments at December 31, 2024. The following table summarizes the underlying contractual maturities of the Company’s investments at December 31, 2023.

December 31, 2023

    

Amortized Cost

    

Fair Value

Less than 1 year:

Commercial paper

$

163,775

$

163,774

Municipal securities

 

361

 

361

U.S. government agency securities

 

116,524

 

116,548

Certificates of deposit

 

15,590

 

15,590

U.S. treasuries

412,936

412,057

Corporate bonds

247,340

247,275

Due 1 - 10 years:

U.S. treasuries

35,896

35,967

U.S. government agency securities

 

23,485

 

23,531

Corporate bonds

16,903

16,933

Total

$

1,032,810

$

1,032,036