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Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Investments

Investments consist of the following as of September 30, 2024 and December 31, 2023 (dollars in thousands):

 

 

September 30, 2024

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

Cost

 

 

Gain

 

 

(Loss)

 

 

Fair Value

 

Short-term investments (available for sale):

 

 

 

 

 

 

 

 

 

 

 

 

Non-governmental debt securities

 

$

224,665

 

 

$

1,203

 

 

$

(85

)

 

$

225,783

 

Treasury and federal agencies

 

 

257,488

 

 

 

576

 

 

 

(75

)

 

 

257,989

 

Total short-term investments (available for sale)

 

$

482,153

 

 

$

1,779

 

 

$

(160

)

 

$

483,772

 

 

 

December 31, 2023

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

Cost

 

 

Gain

 

 

(Loss)

 

 

Fair Value

 

Short-term investments (available for sale):

 

 

 

 

 

 

 

 

 

 

 

 

Non-governmental debt securities

 

 

245,886

 

 

 

719

 

 

 

(892

)

 

 

245,713

 

Treasury and federal agencies

 

 

239,859

 

 

 

393

 

 

 

(830

)

 

 

239,422

 

Total short-term investments (available for sale)

 

$

485,745

 

 

$

1,112

 

 

$

(1,722

)

 

$

485,135

 

Schedule of Maintenance Fee Payment to our equity affiliate

We make periodic operating maintenance payments to our equity affiliate. The total fees recorded during the quarters and years to date ended September 30, 2024 and 2023 were as follows (dollars in thousands):

 

 

Maintenance Fee Payments

 

For the quarter ended September 30, 2024

$

429

 

For the quarter ended September 30, 2023

$

411

 

For the year to date ended September 30, 2024

$

1,296

 

For the year to date ended September 30, 2023

$

1,256