XML 39 R22.htm IDEA: XBRL DOCUMENT v3.22.4
Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Carrying Value and Amortized Cost of Company Investments Summarized by Major Security Type

The carrying value and amortized cost of the Company’s investments, summarized by major security type, consisted of the following (in thousands):

 

 

December 31, 2022

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

U.S. Treasury notes

 

$

15,956

 

 

$

—

 

 

$

(11

)

 

$

15,945

 

Government sponsored enterprise securities

 

 

81,216

 

 

 

16

 

 

 

(291

)

 

 

80,941

 

Municipal bonds

 

 

20,873

 

 

 

—

 

 

 

(98

)

 

 

20,775

 

Commercial paper

 

 

184,923

 

 

 

30

 

 

 

(637

)

 

 

184,316

 

 

 

$

302,968

 

 

$

46

 

 

$

(1,037

)

 

$

301,977

 

 

 

 

December 31, 2021

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

U.S. Treasury notes

 

$

140,287

 

 

$

—

 

 

$

(100

)

 

$

140,187

 

Government sponsored enterprise securities

 

 

49,512

 

 

 

—

 

 

 

(38

)

 

 

49,474

 

Corporate debt securities

 

 

26,006

 

 

 

—

 

 

 

(22

)

 

 

25,984

 

Commercial paper

 

 

157,670

 

 

 

9

 

 

 

(53

)

 

 

157,626

 

 

 

$

373,475

 

 

$

9

 

 

$

(213

)

 

$

373,271

 
Summary of Gross Unrealized Losses and Fair Value of Available-For-Sale Investment Securities in Unrealized Loss Position The following table presents gross unrealized losses and fair value for those available-for-sale investments that were in an unrealized loss position as of December 31, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):

 

 

Less Than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

 

Estimated
Fair Value

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

 

Unrealized
Losses

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury notes

 

$

15,945

 

 

$

(11

)

 

$

—

 

 

$

—

 

 

$

15,945

 

 

$

(11

)

 

Government sponsored enterprise securities

 

 

58,254

 

 

 

(291

)

 

 

—

 

 

 

—

 

 

 

58,254

 

 

 

(291

)

 

Municipal bonds

 

 

20,775

 

 

 

(98

)

 

 

—

 

 

 

—

 

 

 

20,775

 

 

 

(98

)

 

Commercial paper

 

 

135,200

 

 

 

(637

)

 

 

—

 

 

 

—

 

 

 

135,200

 

 

 

(637

)

 

Total

 

$

230,174

 

 

$

(1,037

)

 

$

—

 

 

$

—

 

 

$

230,174

 

 

$

(1,037

)

 

December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury notes

 

$

140,287

 

 

$

(100

)

 

$

—

 

 

$

—

 

 

$

140,287

 

 

$

(100

)

 

Government sponsored enterprise securities

 

 

49,512

 

 

 

(38

)

 

 

—

 

 

 

—

 

 

 

49,512

 

 

 

(38

)

 

Corporate debt securities

 

 

26,006

 

 

 

(22

)

 

 

—

 

 

 

—

 

 

 

26,006

 

 

 

(22

)

 

Commercial paper

 

 

75,192

 

 

 

(53

)

 

 

—

 

 

 

—

 

 

 

75,192

 

 

 

(53

)

 

Total

 

$

290,997

 

 

$

(213

)

 

$

—

 

 

$

—

 

 

$

290,997

 

 

$

(213

)