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Investments Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments in Debt Securities

The following table presents our investments in available-for-sale (“AFS”) debt securities:

						Amortized Cost						Accrued Interest						Gross Unrealized Gains						Gross Unrealized Losses(1)						Fair Value
March 31, 2023
U.S. Treasury securities						$	101,944					$	248					$	—					$	(2,273)					$	99,919
Multinational securities(2)						19,596						75						—						(504)						19,167
Corporate bonds						38,771						211						—						(2,112)						36,870
Agency mortgage-backed securities						8,648						21						—						(871)						7,798
Other asset-backed securities						9,542						5						—						(417)						9,130
Other(3)						2,128						10						—						(186)						1,952
Total investments in AFS debt securities						$	180,629					$	570					$	—					$	(6,363)					$	174,836
December 31, 2022
U.S. Treasury securities						$	121,282					$	217					$	—					$	(3,510)					$	117,989
Multinational securities(2)						19,658						109						—						(724)						19,043
Corporate bonds						41,890						257						—						(2,644)						39,503
Agency mortgage-backed securities						8,899						22						—						(991)						7,930
Other asset-backed securities						9,556						5						—						(514)						9,047
Other(3)						2,133						21						—						(228)						1,926
Total investments in AFS debt securities						$	203,418					$	631					$	—					$	(8,611)					$	195,438

_____________________

(1) As of March 31, 2023 and December 31, 2022, we concluded that there was no credit loss attributable to securities in unrealized loss positions. Additionally, we do not intend to sell the securities in loss positions nor is it more likely than not that we will be required to sell the securities prior to recovery of the amortized cost basis.

(2) Includes sovereign foreign and supranational bonds.

(3) Includes state and city municipal bond securities.

Schedule of Investment Securities in Gross Unrealized Loss Position

The following table presents information about our investments in AFS debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2023 and December 31, 2022.

						Less than 12 Months												12 Months or Longer												Total
						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
March 31, 2023
U.S. Treasury securities						$	7,705					$	(196)					$	92,214					$	(2,077)					$	99,919					$	(2,273)
Multinational securities						—						—						19,167						(504)						19,167						(504)
Corporate bonds						—						—						36,870						(2,112)						36,870						(2,112)
Agency mortgage-backed securities						—						—						7,798						(871)						7,798						(871)
Other asset-backed securities						—						—						9,130						(417)						9,130						(417)
Other						—						—						1,952						(186)						1,952						(186)
Total investments in AFS debt securities						$	7,705					$	(196)					$	167,131					$	(6,167)					$	174,836					$	(6,363)

						Less than 12 Months												12 Months or Longer												Total
						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
December 31, 2022
U.S. Treasury securities						$	27,759					$	(1,171)					$	90,230					$	(2,339)					$	117,989					$	(3,510)
Multinational securities						—						—						19,043						(724)						19,043						(724)
Corporate bonds						4,480						(313)						35,023						(2,331)						39,503						(2,644)
Agency mortgage-backed securities						6,448						(814)						1,482						(177)						7,930						(991)
Other asset-backed securities						—						—						9,047						(514)						9,047						(514)
Other						745						(200)						1,181						(28)						1,926						(228)
Total investments in AFS debt securities						$	39,432					$	(2,498)					$	156,006					$	(6,113)					$	195,438					$	(8,611)

Schedule of Investments by Contractual Maturity

The following table presents the amortized cost and fair value of our investments in AFS debt securities by contractual maturity:

						Due Within One Year						Due After One Year Through Five Years						Due After Five Years Through Ten Years						Due After Ten Years						Total
March 31, 2023
Investments in AFS debt securities—Amortized cost:
U.S. Treasury securities						$	72,228					$	29,716					$	—					$	—					$	101,944
Multinational securities						19,596						—						—						—						19,596
Corporate bonds						10,192						25,248						3,331						—						38,771
Agency mortgage-backed securities						—						180						804						7,664						8,648
Other asset-backed securities						—						7,599						1,943						—						9,542
Other						1,191						—						—						937						2,128
Total investments in AFS debt securities						$	103,207					$	62,743					$	6,078					$	8,601					$	180,629
Weighted average yield for investments in AFS debt securities(1)						4.69		%				5.70		%				0.01		%				9.04		%				5.10		%
Investments in AFS debt securities—Fair value(2):
U.S. Treasury securities						$	71,098					$	28,573					$	—					$	—					$	99,671
Multinational securities						19,092						—						—						—						19,092
Corporate bonds						9,827						23,843						2,989						—						36,659
Agency mortgage-backed securities						—						170						736						6,871						7,777
Other asset-backed securities						—						7,252						1,873						—						9,125
Other						1,173						—						—						769						1,942
Total investments in AFS debt securities						$	101,190					$	59,838					$	5,598					$	7,640					$	174,266

_____________________

(1) The weighted average yield represents the effective yield for the investment securities and is computed based on the amortized cost of each security.

(2) Presentation of fair values of our investments in AFS debt securities by contractual maturity excludes total accrued interest of $570 as of March 31, 2023.

Schedule of Consolidated and Nonconsolidated VIEs

The following table presents the aggregate outstanding value of asset-backed bonds and residual interests owned by the Company in nonconsolidated VIEs, which are presented within investment securities in the condensed consolidated balance sheets:

			March 31, 2023						December 31, 2022
Personal loans			$	14,892					$	20,172
Student loans			170,340						181,159
Securitization investments			$	185,232					$	201,331

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