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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

	June 30, 2026
	Total				Level 1				Level 2				Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	401,909			$	—			$	401,909			$	—
U.S. agency debt securities		80,954				—				80,954				—
Corporate debt securities		40,887				—				40,887				—
Preferred stock of privately-held companies		15,001				—				—				15,001
Money market accounts		5,108				5,108				—				—
Municipal bonds		1,293				—				1,293				—
Total equity securities, debt securities and cash equivalents	$	545,152			$	5,108			$	525,043			$	15,001

	December 31, 2025
	Total				Level 1				Level 2				Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	448,233			$	—			$	448,233			$	—
U.S. agency debt securities		157,557				—				157,557				—
Corporate debt securities		47,481				—				47,481				—
Money market accounts		18,398				18,398				—				—
Preferred stock of privately-held companies		15,001				—				—				15,001
Municipal bonds		1,387				—				1,387				—
Yankee debt securities		495				—				495				—
Total equity securities, debt securities and cash equivalents	$	688,552			$	18,398			$	655,153			$	15,001

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

+ Details

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