XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.23.3

MARKETABLE SECURITIES | 9 Months Ended
--- | ---
Sep. 30, 2023
MARKETABLE SECURITIES |
MARKETABLE SECURITIES | 5. MARKETABLE SECURITIES: Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at September 30, 2023, were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrealized | ​ | Estimated Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Market Value
Investments due in 3 months or less: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Corporate securities | ​ | $ | 36,088 | ​ | $ | — | ​ | $ | (207) | ​ | $ | 35,881
Total | ​ |  | 36,088 | ​ |  | — | ​ |  | (207) | ​ |  | 35,881
Investments due in 4-12 months: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ |  | 39,377 | ​ |  | 4 | ​ |  | (664) | ​ |  | 38,717
Total | ​ |  | 39,377 | ​ |  | 4 | ​ |  | (664) | ​ |  | 38,717
Investments due in 12 months or greater: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ |  | 189,271 | ​ |  | 18 | ​ |  | (1,991) | ​ |  | 187,298
Total | ​ | ​ | 189,271 | ​ |  | 18 | ​ | ​ | (1,991) | ​ |  | 187,298
Total marketable securities | ​ | $ | 264,736 | ​ | $ | 22 | ​ | $ | (2,862) | ​ | $ | 261,896
​ Accrued interest receivable was $2.7 million at September 30, 2023 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2022, were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrealized | ​ | Estimated Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Market Value
Investments due in 3 months or less: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Corporate securities | ​ | $ | 21,803 | ​ | $ | — | ​ | $ | (135) | ​ | $ | 21,668
Total | ​ |  | 21,803 | ​ |  | — | ​ |  | (135) | ​ |  | 21,668
Investments due in 4-12 months: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ |  | 173,833 | ​ |  | — | ​ |  | (4,019) | ​ |  | 169,814
Total | ​ |  | 173,833 | ​ |  | — | ​ |  | (4,019) | ​ |  | 169,814
Investments due in 12 months or greater: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ | ​ | 58,128 | ​ |  | 71 | ​ |  | (1,240) | ​ |  | 56,959
Total | ​ |  | 58,128 | ​ |  | 71 | ​ |  | (1,240) | ​ |  | 56,959
Total marketable securities | ​ | $ | 253,764 | ​ | $ | 71 | ​ | $ | (5,394) | ​ | $ | 248,441
​ Accrued interest receivable was $1.2 million at December 31, 2022 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. The following table summarizes marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at September 30, 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Longer | ​ | Total
​ |  | Estimated |  | Gross |  | Estimated |  | Gross |  | Estimated |  | Gross
​ | ​ | Fair Market | ​ | Unrealized | ​ | Fair Market | ​ | Unrealized | ​ | Fair Market | ​ | Unrealized
(In thousands) | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
Corporate securities | ​ | $ | 200,713 | ​ | $ | (2,001) | ​ | $ | 55,695 | ​ | $ | (861) | ​ | $ | 256,408 | ​ | $ | (2,862)
Total marketable securities | ​ | $ | 200,713 | ​ | $ | (2,001) | ​ | $ | 55,695 | ​ | $ | (861) | ​ | $ | 256,408 | ​ | $ | (2,862)
​ In the three and nine months ended September 30, 2023 and 2022, no unrealized losses on marketable securities were recognized in income. The Company does not intend to sell and it is unlikely that it will be required to sell the securities prior to their anticipated recovery. The issuers are high quality (investment grade) and the decline in fair value is largely due to changes in interest rates. Additionally, the issuers continue to make timely interest payments on the marketable securities with the fair value expected to recover as they reach maturity.

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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