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Investments (Tables) | 9 Months Ended
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Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Investment | Details of our investments are as follows (in thousands):
|  | September 30, 2024 |
|  | Cash and Cash |  |  | Long-Term |
|  | Equivalents |  |  | Investment |
Measured at fair value: |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |
Money market funds |  | $ | 230,421 |  |  | $ | — |
Failed Auction Security |  |  | — |  |  |  | 2,640 |
Total |  |  | 230,421 |  |  |  | 2,640 |
Other measurement basis: |  |  |  |  |  |
Cash on hand |  |  | 37,184 |  |  |  | — |
Total |  | $ | 267,605 |  |  | $ | 2,640 |
|  | December 31, 2023 |
|  | Cash and Cash |  |  | Long-Term |
|  | Equivalents |  |  | Investment |
Measured at fair value: |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |
Money market funds |  | $ | 209,489 |  |  | $ | — |
Failed Auction Security |  |  | — |  |  |  | 2,530 |
Total |  |  | 209,489 |  |  |  | 2,530 |
Other measurement basis: |  |  |  |  |  |
Cash on hand |  |  | 32,730 |  |  |  | — |
Total |  | $ | 242,219 |  |  | $ | 2,530 |
Summary of Available-for-Sale Securities | The following is a summary of the available-for-sale securities (in thousands):
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  |  |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
September 30, 2024 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Failed Auction Security |  | $ | 3,000 |  |  |  | — |  |  |  | 360 |  |  | $ | 2,640 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  |  |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
December 31, 2023 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Failed Auction Security |  | $ | 3,000 |  |  |  | — |  |  |  | 470 |  |  | $ | 2,530 |
Cost and Estimated Fair Value of Failed Auction Security by Contractual Maturities | The amortized cost and estimated fair value of the available-for-sale securities on September 30, 2024, by type and contractual maturities, are shown below (in thousands):
|  |  |  |  | Estimated |
|  | Cost |  |  | Fair Value |
Failed Auction Security: |  |  |  |  |  |
Due in nineteen years |  | $ | 3,000 |  |  | $ | 2,640 |

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