XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Note 4 - Investments | 3 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Investment [Text Block] | Note 4. Investments The Company invests in United States Treasury (“Treasuries”) securities with terms of not more than five years and certificates of deposit (“CDs”) that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”), as well as money market funds. The Company’s investment portfolio is classified as available-for-sale, which is reported on the consolidated balance sheet at fair value. The unrealized gain or loss on investment securities is recorded in other comprehensive income, net of tax. Realized gains and losses on available-for-sale securities are recognized upon sale and are included in net investment income in the condensed consolidated statement of earnings. As of December 31, 2024, available-for-sale investments consisted of the following:
|  | December 31, 2024 |
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Short-Term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 82,005 |  |  | $ | 215 |  |  | $ | (159 | ) |  | $ | 82,061 |
Certificates of deposit |  |  | 500 |  |  |  | - |  |  |  | - |  |  |  | 500 |
Investment securities – short-term |  | $ | 82,505 |  |  | $ | 215 |  |  | $ | (159 | ) |  | $ | 82,561 |
Long-Term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S Treasury securities |  | $ | 41,801 |  |  | $ | 14 |  |  | $ | (136 | ) |  | $ | 41,679 |
Certificates of deposit |  |  | 248 |  |  |  | - |  |  |  | (11 | ) |  |  | 237 |
Investment securities – long-term |  | $ | 42,049 |  |  | $ | 14 |  |  | $ | (147 | ) |  | $ | 41,916 |
As of September 30, 2024, available-for-sale investments consist of the following:
|  | September 30, 2024 |
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Short-Term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 113,987 |  |  | $ | 382 |  |  | $ | (45 | ) |  | $ | 114,324 |
Certificates of deposit |  |  | 500 |  |  |  | 1 |  |  |  | - |  |  |  | 501 |
Investment securities – short-term |  | $ | 114,487 |  |  | $ | 383 |  |  | $ | (45 | ) |  | $ | 114,825 |
Long-Term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S Treasury securities |  | $ | 24,514 |  |  | $ | - |  |  | $ | (245 | ) |  | $ | 24,269 |
Certificates of deposit |  |  | 248 |  |  |  | - |  |  |  | (12 | ) |  |  | 236 |
Investment securities – long-term |  | $ | 24,762 |  |  | $ | - |  |  | $ | (257 | ) |  | $ | 24,505 |
As of December 31, 2024, investments in debt securities in an unrealized loss position were as follows:
|  | In Unrealized Loss Position For Less Than 12 Months |  |  | In Unrealized Loss Position For Greater Than 12 Months |
(In thousands) |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |
U.S treasury securities |  | $ | 37,773 |  |  | $ | (69 | ) |  | $ | 6,535 |  |  | $ | (226 | )
Certificates of deposit |  |  | - |  |  |  | - |  |  |  | 237 |  |  |  | (11 | )
Investment securities |  | $ | 37,773 |  |  | $ | (69 | ) |  | $ | 6,772 |  |  | $ | (237 | )
As of September 30, 2024, investments in debt securities in an unrealized loss position were as follows:
|  | In Unrealized Loss Position For Less Than 12 Months |  |  | In Unrealized Loss Position For Greater Than 12 Months |
(In thousands) |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |
U.S treasury securities |  | $ | 19,719 |  |  | $ | (39 | ) |  | $ | 6,500 |  |  | $ | (250 | )
Certificates of deposit |  |  | - |  |  |  | - |  |  |  | 236 |  |  |  | (12 | )
Investment securities |  | $ | 19,719 |  |  | $ | (39 | ) |  | $ | 6,736 |  |  | $ | (262 | )
As of December 31, 2024, there were 7 securities in an unrealized loss position which is due to the market paying a higher interest rate than the coupon rate on these securities. As of September 30, 2024, there were 6 securities in an unrealized loss position which is due to the securities paying lower interest rates than the market. As of December 31, 2024, and September 30, 2024, there are no securities which are other than temporarily impaired as the Company intends to hold these securities until their value recovers and there is negligible credit risk due to the nature of the securities which are backed by the FDIC and U.S. federal government. The Company had no allowance for credit losses on investments for the three months ended December 31, 2024.

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

X
- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
Name: | us-gaap_InvestmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration