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CASH, CASH EQUIVALENTS AND INVESTMENTS | 3 Months Ended
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Mar. 31, 2024
Cash and Cash Equivalents [Abstract] |
CASH, CASH EQUIVALENTS AND INVESTMENTS | 3. CASH, CASH EQUIVALENTS AND INVESTMENTS: The Company’s portfolio of marketable fixed income securities consists of U.S. Government bonds and corporate bonds. The Company considers all highly liquid debt instruments purchased with an original maturity (maturity at the purchase date) of three months or less to be cash equivalents. The Company classifies its remaining debt security investments as available-for-sale. These debt securities are carried at fair market value, with unrealized gains and losses reported in shareholders’ equity. Gains or losses on securities sold are based on the specific identification method. Cash and Cash Equivalents The following table provides details regarding the Company’s portfolio of cash and cash equivalents (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Aggregate Fair |
Cash and Cash Equivalents Classification |  | Cost |  |  | Gains |  |  | (Losses) |  |  | Market Value |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Cash accounts in banking institutions |  | $ | 70,765 |  |  | $ | — |  |  | $ | — |  |  | $ | 70,765 |
Money market accounts |  |  | 3,247 |  |  |  | — |  |  |  | — |  |  |  | 3,247 |
|  | $ | 74,012 |  |  | $ | — |  |  | $ | — |  |  | $ | 74,012 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Cash accounts in banking institutions |  | $ | 91,717 |  |  | $ | — |  |  | $ | — |  |  | $ | 91,717 |
Money market accounts |  |  | 268 |  |  |  | — |  |  |  | — |  |  |  | 268 |
|  | $ | 91,985 |  |  | $ | — |  |  | $ | — |  |  | $ | 91,985 |
Short-term Investments The following table provides details regarding the Company’s portfolio of short-term investments (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Aggregate Fair |
Short-term Investments Classification |  | Cost |  |  | Gains |  |  | (Losses) |  |  | Market Value |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 796 |  |  | $ | 1 |  |  | $ | (1 | ) |  | $ | 796 |
U.S. Government bonds |  |  | 465,377 |  |  |  | 10 |  |  |  | (979 | ) |  |  | 464,408 |
Marketable securities |  |  | 89 |  |  |  | — |  |  |  | — |  |  |  | 89 |
|  | $ | 466,262 |  |  | $ | 11 |  |  | $ | (980 | ) |  | $ | 465,293 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 1,763 |  |  | $ | 1 |  |  | $ | (5 | ) |  | $ | 1,759 |
U.S. Government bonds |  |  | 420,769 |  |  |  | 303 |  |  |  | (694 | ) |  |  | 420,378 |
|  | $ | 422,532 |  |  | $ | 304 |  |  | $ | (699 | ) |  | $ | 422,137 |
Long-term U.S. Government Bond Investments The following table provides details regarding the Company’s portfolio of long-term investments (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Aggregate Fair |
Long-term Investments Classification |  | Cost |  |  | Gains |  |  | (Losses) |  |  | Market Value |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government bonds |  | $ | 299,537 |  |  | $ | 68 |  |  | $ | (712 | ) |  | $ | 298,893 |
|  | $ | 299,537 |  |  | $ | 68 |  |  | $ | (712 | ) |  | $ | 298,893 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government bonds |  | $ | 284,053 |  |  | $ | 1,457 |  |  | $ | (8 | ) |  | $ | 285,502 |
|  | $ | 284,053 |  |  | $ | 1,457 |  |  | $ | (8 | ) |  | $ | 285,502 |
Minority Equity Investments The Company’s portfolio of minority equity investments consists of investments in privately held early-stage companies primarily motivated for the Company to gain early access to new technology and are passive in nature in that the Company typically does not seek to obtain representation on the boards of directors of the companies in which it invests. Minority equity investments are included in investments on the Consolidated Balance Sheets. As of March 31, 2024 and December 31, 2023, the Company had minority equity investments in five entities with a total carrying value of $14.0 million accounted for as equity securities without readily determinable fair values.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 + Details
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