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Investments (Tables) | 12 Months Ended
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Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Debt Securities, Trading, and Equity Securities, FV-NI | Gains (losses) on equity securities recognized in ‘Unrealized gain (loss) on short-term investments held at the reporting date’ consisted of the following (in thousands):
| Year ended December 31,
| 2022 |  | 2021
Net (losses) gains during the period | $ | (53,888) |  |  | $ | 298,490 |
Less: losses on securities sold during the period | (46,743) |  |  | — |
Unrealized (losses) gains recognized during the period on short-term investments held at the reporting date | $ | (7,145) |  |  | $ | 298,490 |
Summary of Securities without Readily Determinable Fair Value | The following table summarizes the historical cost and estimated fair values for the Company’s securities without a readily determinable fair value as of December 31, 2021 and 2020 (in thousands). Impairment losses are included within Loss on investments, net in the Consolidated Statements of Operations.
| As of December 31,
| 2021 |  | 2020
Cost | $ | 17,156 |  |  | $ | 50,384 |
Impairment | (16,677) |  |  | (19,605) |
Adjustments | (479) |  |  | (479) |
Reported amount | $ | — |  |  | $ | 30,300 |
Summary of Available-for-sale Investments | The table below summarizes the carrying value and the maximum exposure of Company’s investment in corporate debt securities as of December 31, 2022 (in thousands):
| December 31, 2022
| Fair value |  | Maximum exposure
Investment in corporate debt securities | $ | 15,586 |  |  | $ | 15,586 |
The following table summarizes the gross unrealized gains and losses and fair values for investments classified as available-for-sale (in thousands):
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2022 |  |  |  |  |  |  |
Investment in corporate debt securities | $ | 15,000 |  |  | $ | 586 |  |  | $ | — |  |  | $ | 15,586 |
December 31, 2021 |  |  |  |  |  |  |
Investment in corporate debt securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2020 |  |  |  |  |  |  |
Investment in corporate debt securities | $ | 511 |  |  | $ | 152 |  |  | $ | — |  |  | $ | 663 |
Unrealized Gain (Loss) on Investments |
Available-for-Sale Securities Classified by Contractual Maturity Date | The following table summarizes the Company’s corporate debt securities designated as available-for-sale, classified by the contractual maturity date of the security (in thousands):
| December 31,
| 2022 |  | 2021
Due within 1 year | $ | — |  |  | $ | — |
Due within more than 1 year but less than 5 years | 15,586 |  |  | — |
Due within more than 5 years but less than 10 years | — |  |  | — |
Due 10 years or after | — |  |  | — |
Total | $ | 15,586 |  |  | $ | — |
Carrying Amount for Equity Method Investment | The following table discloses the carrying amount for the Company’s equity method investment (in thousands). These equity securities are included within ‘Long-term investments’ in the Consolidated Balance Sheets.
| December 31, 2022 |  | December 31, 2021
| Carrying value |  | Maximum exposure |  | Carrying value |  | Maximum exposure
Equity method investment | $ | 112,285 |  |  | $ | 112,285 |  |  | $ | 122,593 |  |  | $ | 122,593 |

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