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v3.23.3

Investments (Tables) | 9 Months Ended
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Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments | Investments consisted of the following (in thousands):
|  |  |  |  | Gross Unrealized |  |  |  |
|  |  |  |  |  |  |  | Losses |  |  |  |
|  | Amortized |  |  |  |  |  | Less than |  |  | Greater than |  |  | Estimated |
September 30, 2023 |  | Cost |  |  | Gains |  |  | One Year |  |  | One Year |  |  | Fair Value |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency debt securities |  | $ | 137,689 |  |  | $ | 7 |  |  | $ | (19 | ) |  | $ | (985 | ) |  | $ | 136,692 |
Corporate debt securities |  |  | 94,150 |  |  |  | 12 |  |  |  | (32 | ) |  |  | (1,068 | ) |  |  | 93,062 |
Non-U.S. government debt securities |  |  | 11,784 |  |  |  | — |  |  |  | — |  |  |  | (99 | ) |  |  | 11,685 |
Total short-term investments |  |  | 243,623 |  |  |  | 19 |  |  |  | (51 | ) |  |  | (2,152 | ) |  |  | 241,439 |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency debt securities |  |  | 67,979 |  |  |  | — |  |  |  | (159 | ) |  |  | (738 | ) |  |  | 67,082 |
Corporate debt securities |  |  | 38,179 |  |  |  | — |  |  |  | (44 | ) |  |  | (606 | ) |  |  | 37,529 |
|  |  | 106,158 |  |  |  | — |  |  |  | (203 | ) |  |  | (1,344 | ) |  |  | 104,611 |
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 1,820 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,820 |
Total long-term investments |  |  | 107,978 |  |  |  | — |  |  |  | (203 | ) |  |  | (1,344 | ) |  |  | 106,431 |
Total investments |  | $ | 351,601 |  |  | $ | 19 |  |  | $ | (254 | ) |  | $ | (3,496 | ) |  | $ | 347,870 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 141,418 |  |  | $ | — |  |  | $ | (424 | ) |  | $ | (2,054 | ) |  | $ | 138,940 |
U.S. government and agency debt securities |  |  | 143,710 |  |  |  | 16 |  |  |  | (266 | ) |  |  | (1,289 | ) |  |  | 142,171 |
Non-U.S. government debt securities |  |  | 35,455 |  |  |  | — |  |  |  | (28 | ) |  |  | (546 | ) |  |  | 34,881 |
Total short-term investments |  |  | 320,583 |  |  |  | 16 |  |  |  | (718 | ) |  |  | (3,889 | ) |  |  | 315,992 |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  | 68,229 |  |  |  | — |  |  |  | (1,550 | ) |  |  | (676 | ) |  |  | 66,003 |
U.S. government and agency debt securities |  |  | 62,220 |  |  |  | — |  |  |  | (917 | ) |  |  | (1,424 | ) |  |  | 59,879 |
Non-U.S. government debt securities |  |  | 4,099 |  |  |  | — |  |  |  | — |  |  |  | (191 | ) |  |  | 3,908 |
|  |  | 134,548 |  |  |  | — |  |  |  | (2,467 | ) |  |  | (2,291 | ) |  |  | 129,790 |
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 1,820 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,820 |
Total long-term investments |  |  | 136,368 |  |  |  | — |  |  |  | (2,467 | ) |  |  | (2,291 | ) |  |  | 131,610 |
Total investments |  | $ | 456,951 |  |  | $ | 16 |  |  | $ | (3,185 | ) |  | $ | (6,180 | ) |  | $ | 447,602 |
Schedule of Proceeds from Sales and Maturities of Marketable Securities Plus Resulting Realized Gains and Losses | Realized gains and losses on the sales and maturities of investments, which were identified using the specific identification method, were as follows:
|  | Nine Months Ended September 30, |
(In thousands) |  | 2023 |  |  | 2022 |
Proceeds from the sales and maturities of investments |  | $ | 291,944 |  |  | $ | 190,994 |
Realized gains |  | $ | — |  |  | $ | — |
Realized losses |  | $ | — |  |  | $ | 529 |
Schedule of Contractual Maturities of Available-for-Sale and Held-to-Maturity Securities | The Company’s available-for-sale and held-to-maturity securities at September 30, 2023 had contractual maturities in the following periods:
|  | Available-for-sale |  |  | Held-to-maturity |
|  | Amortized |  |  | Estimated |  |  | Amortized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Fair Value |  |  | Cost |  |  | Fair Value |
Within 1 year |  | $ | 214,322 |  |  | $ | 212,122 |  |  | $ | 1,820 |  |  | $ | 1,820 |
After 1 year through 5 years |  |  | 135,459 |  |  |  | 133,928 |  |  |  | — |  |  |  | — |
Total |  | $ | 349,781 |  |  | $ | 346,050 |  |  | $ | 1,820 |  |  | $ | 1,820 |

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