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Investment securities
 12 Months Ended
Dec. 31, 2022
Investment securities  
Investment securities

5. Investment securities

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The following table summarizes the Company’s investments into sovereign debt as of December 31, 2022:

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At December 31, 2022

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Amortized cost, as adjusted

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Gross unrealized holding gains

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Gross unrealized holding losses

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Estimated fair value

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(in thousands)

Current investments:

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Obligations of governmental agencies (held-to-maturity)

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$

124,831

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$

—

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$

(283)

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$

124,548

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Non-current investments:

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Obligations of governmental agencies (held-to-maturity)

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39,984

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—

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(43)

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39,941

Total

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$

164,815

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$

—

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$

(326)

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$

164,489

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No investments classified as held-to-maturity were purchased in the prior years. Inputs to the fair value of the investments are considered Level 2 inputs.

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