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MARKETABLE INVESTMENT SECURITIES | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
MARKETABLE INVESTMENT SECURITIES | MARKETABLE INVESTMENT SECURITIES At December 31, 2024, the Company had no investment securities outstanding. As of December 31, 2023, the Company had no gross unrealized holding gains. The amortized cost, gross unrealized holding losses, and fair value for debt securities classified as available-for-sale securities by major security type and class of security at December 31, 2023 were as follows:
(in millions) | Amortized cost |  |  |  | Gross unrealized holding losses |  | Estimated fair value
December 31, 2023: |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |
Cash | $ | 129.9 |  |  |  |  | $ | — |  |  | $ | 129.9 |
Cash equivalents | 2.2 |  |  |  |  | — |  |  | 2.2 |
Total cash and cash equivalents | 132.1 |  |  |  |  | — |  |  | 132.1 |
Available-for-sale: |  |  |  |  |  |  |
Corporate bonds and notes | 8.4 |  |  |  |  | (0.1) |  |  | 8.3 |
Municipal bonds | 0.5 |  |  |  |  | — |  |  | 0.5 |
Total | $ | 141.0 |  |  |  |  | $ | (0.1) |  |  | $ | 140.9 |
During the years ended December 31, 2023 and 2022, the Company sold $90.4 million and $28.4 million of investments, respectively. The cost of the available for sale security sold was determined using the specific-identification method. The amount of gross realized gains and realized losses upon sales of investments was insignificant for the year ended December 31, 2024 and December 31, 2022. The amount of realized losses upon sales of investments was $1.5 million for the year ended December 31, 2023. As of December 31, 2023, the Company had seven available-for-sale debt securities in a gross unrealized loss position of $0.1 million, with a fair market value of $8.8 million. As of December 31, 2023, the expected losses were determined to be immaterial and as such, the Company did not record an allowance for credit losses. Additional information relating to fair value of marketable investment securities can be found in Note 3.

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