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FAIR VALUE ACCOUNTING (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring | The following tables set forth the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
| Level 1 |  | Level 2 |  | Level 3 |  | Total
June 30, 2026 |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Marketable debt securities | $ | — |  |  | $ | 855,686 |  |  | $ | 24,905 |  |  | $ | 880,591 |
Marketable equity securities | 22,603 |  |  | 49 |  |  | — |  |  | 22,652 |
Total assets | $ | 22,603 |  |  | $ | 855,735 |  |  | $ | 24,905 |  |  | $ | 903,243 |
Liabilities |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 1,767 |  |  | $ | 1,767 |
December 31, 2025 |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Marketable debt securities | $ | — |  |  | $ | 776,332 |  |  | $ | 10,241 |  |  | $ | 786,573 |
Marketable equity securities | 20,693 |  |  | 81 |  |  | — |  |  | 20,774 |
Total assets | $ | 20,693 |  |  | $ | 776,413 |  |  | $ | 10,241 |  |  | $ | 807,347 |
Liabilities |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 1,723 |  |  | $ | 1,723 |
Changes in Level 3 Fair Value Measurements The following table is a reconciliation of the beginning and ending balance recorded for the contingent consideration classified as Level 3 in the fair value hierarchy:
Beginning balance, December 31, 2025 | $ | 1,723 |
Changes in estimated fair value | 44 |
Ending balance, June 30, 2026 | $ | 1,767 |
The following table is a reconciliation of the beginning and ending balance recorded for the Advances to the Donald Project that are classified as Level 3 in the fair value hierarchy:
Balance as of December 31, 2025 | $ | 10,241 |
Additions | 15,374 |
Changes in estimated fair value | (710) |
Balance as of June 30, 2026 | $ | 24,905 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the fair value and carrying value recorded for the Notes (in thousands):
| June 30, 2026 |  | December 31, 2025
| Fair |  | Carrying |  | Fair |  | Carrying
| Value(1) |  | Value(2) |  | Value(1) |  | Value(2)
Notes | $ | 724,920 |  |  | $ | 677,684 |  |  | $ | 721,000 |  |  | $ | 675,688 |
(1) Fair values are based on Level 2 market data inputs. (2) Carrying values are presented net of unamortized debt issuance costs.

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- 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
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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