XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.25.3

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements of Financial Instruments | The following tables present the level within the fair value hierarchy at which our financial instruments were measured:
| Fair Value Measurements Using |  |
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Fair Value
As of September 30, 2025 | (In Thousands)
U.S. Treasury securities and obligations of U.S. government agencies | $ | 103,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 103,495 |
Municipal debt securities | — |  |  | 630,364 |  |  | — |  |  | 630,364 |
Corporate debt securities | — |  |  | 2,113,879 |  |  | — |  |  | 2,113,879 |
Asset-backed securities | — |  |  | 49,763 |  |  | — |  |  | 49,763 |
Cash, cash equivalents and short-term investments | 248,498 |  |  | — |  |  | — |  |  | 248,498 |
Total assets | $ | 351,993 |  |  | $ | 2,794,006 |  |  | $ | — |  |  | $ | 3,145,999 |
| Fair Value Measurements Using |  |
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Fair Value
As of December 31, 2024 | (In Thousands)
U.S. Treasury securities and obligations of U.S. government agencies | $ | 116,060 |  |  | $ | — |  |  | $ | — |  |  | $ | 116,060 |
Municipal debt securities | — |  |  | 635,245 |  |  | — |  |  | 635,245 |
Corporate debt securities | — |  |  | 1,847,640 |  |  | — |  |  | 1,847,640 |
Asset-backed securities | — |  |  | 41,980 |  |  | — |  |  | 41,980 |
Cash, cash equivalents and short-term investments | 136,924 |  |  | — |  |  | — |  |  | 136,924 |
Total assets | $ | 252,984 |  |  | $ | 2,524,865 |  |  | $ | — |  |  | $ | 2,777,849 |

X
- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration