XML 75 R31.htm IDEA: XBRL DOCUMENT v3.25.3
Investments (Tables)
 9 Months Ended
Sep. 30, 2025
Investments [Abstract]  
Summary of investments The following tables summarize our investments as of September 30, 2025 and December 31, 2024 (in thousands):
September 30, 2025
Cost
Unrealized
Gains
Unrealized
Losses
Carrying
Amount
Publicly traded companies
$197,229
$28,964
$(101,901)
$124,292
Entities that report NAV
482,734
98,002
(40,603)
540,133
Entities that do not report NAV:
Entities with observable price changes
80,454
53,409
(9,614)
124,249
Entities without observable price changes
422,519
—
—
422,519
Investments accounted for under the equity method
N/A
N/A
N/A
326,445
Total investments
$1,182,936
$180,375
$(152,118)
$1,537,638
December 31, 2024
Cost
Unrealized
Gains
Unrealized
Losses
Carrying
Amount
Publicly traded companies
$188,653
$24,262
$(107,248)
$105,667
Entities that report NAV
518,074
126,077
(34,285)
609,866
Entities that do not report NAV:
Entities with observable price changes
99,932
77,761
(2,956)
174,737
Entities without observable price changes
400,487
—
—
400,487
Investments accounted for under the equity method
N/A
N/A
N/A
186,228
Total investments
$1,207,146
$228,100
$(144,489)
$1,476,985
Schedule of net investment income Our investment income (loss) for the three and nine months ended September 30, 2025 and 2024 consisted of the following (in
thousands):
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Realized gains
$9,646
(1)
$12,632
$19,115
(1)
$47,336
Unrealized gains (losses)
18,515
2,610
(71,568)
(32,470)
Investment income (loss)
$28,161
$15,242
$(52,453)
$14,866
(1)Consists of realized gains of $34.8 million and $94.7 million, partially offset by impairment charges of $25.1 million and $75.5 million during the three and nine months
ended September 30, 2025, respectively.