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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Summary of Marketable Securities

The following is a summary of marketable securities at June 30, 2024 and December 31, 2023 (in thousands):

 

 

 

June 30, 2024

 

 

 

Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Allowance for Credit Losses

 

 

Estimated
Fair
Values

 

Marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

11,154

 

 

$

—

 

 

$

(17

)

 

$

—

 

 

$

11,137

 

Corporate bonds and notes

 

 

16,687

 

 

 

7

 

 

 

(44

)

 

 

—

 

 

 

16,650

 

Treasury and agency notes and bills

 

 

3,481

 

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

3,479

 

Total debt securities

 

 

31,322

 

 

 

7

 

 

 

(63

)

 

 

—

 

 

 

31,266

 

Money market funds

 

 

4,200

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,200

 

Total equity securities

 

 

4,200

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,200

 

Total marketable securities

 

$

35,522

 

 

$

7

 

 

$

(63

)

 

$

—

 

 

$

35,466

 

Reported in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

 

$

7,469

 

Marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

$

27,997

 

Total marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

$

35,466

 

 

 

 

December 31, 2023

 

 

 

Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Allowance for Credit Losses

 

 

Estimated
Fair
Values

 

Marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

12,421

 

 

$

5

 

 

$

(4

)

 

$

—

 

 

$

12,422

 

Treasury and agency notes and bills

 

 

10,746

 

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

10,745

 

Corporate bonds and notes

 

 

5,813

 

 

 

34

 

 

 

(2

)

 

 

—

 

 

 

5,845

 

Total debt securities

 

 

28,980

 

 

 

39

 

 

 

(7

)

 

 

—

 

 

 

29,012

 

Money market funds

 

 

5,778

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,778

 

Total equity securities

 

 

5,778

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,778

 

Total marketable securities

 

$

34,758

 

 

$

39

 

 

$

(7

)

 

$

—

 

 

$

34,790

 

Reported in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

 

$

5,778

 

Marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

$

29,012

 

Total marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

$

34,790

 

 

 
Estimated Fair Value of AFS Debt Securities by Contractual Maturity

The estimated fair value of AFS debt securities by contractual maturity at June 30, 2024 is shown below (in thousands). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.

 

 

 

Amortized
Cost

 

Estimated
Fair Value

 

Due in one year or less

 

$

17,597

 

$

17,571

 

Due in one to two years

 

 

8,202

 

 

8,182

 

Due in two to three years

 

 

5,523

 

 

5,513

 

Total

 

$

31,322

 

$

31,266