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Investments

3 Months Ended

Mar. 31, 2023

Investments

Investments

3. Investments

As of March 31, 2023 and December 31, 2022, the Company had investments of $89,483 and $61,295, respectively, classified as available-for-sale securities.

As of March 31, 2023, the Company had available-for-sale investments comprised of the following:

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As of March 31, 2023

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Gross

Gross

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Adjusted

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Unrealized

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Unrealized

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Estimated

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Cost

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Gains

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(Losses)

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Fair Value

Corporate bonds

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$

71,007

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$

82

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$

(583)

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$

70,506

Agency bonds

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19,020

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-

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(43)

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18,977

Total investments

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$

90,027

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$

82

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$

(626)

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$

89,483

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For the three months ended March 31, 2023 and 2022, the net unrealized gains (losses) were $119 and $323, respectively, net of taxes. Available-for-sale debt securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime expected credit losses for all available-for sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our consolidated income statements. The Company has the ability and intent to hold these investments until recovery.

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Available-for-sale securities maturing as of December 31:	​	​	​
2023	​	$	35,526
2024	​	​	40,411
2025	​	​	13,546
Total	​	$	89,483

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- References

No definition available.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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