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Investments in Marketable Securities
 3 Months Ended
Mar. 31, 2024
Investments in Marketable Securities [Abstract]  
Investments in Marketable Securities
Note 3. Investments in Marketable Securities

As of March 31, 2024 and December 31, 2023, the Company’s investments in marketable securities were determined to be available-for-sale securities. Gross unrealized gains or losses resulting from changes in the fair value of available-for-sale securities for the three months ended March 31, 2024 were less than $0.1 million. There were no such gains or losses for the three months ended March 31, 2023.

Dividend and interest income from marketable securities and realized and unrealized gain on marketable securities, net, related to the Company’s available-for sale securities for the three months ended March 31, 2024 and trading securities for the three months ended March 31, 2023 were as follows (in thousands):

             
   
2024
    
2023
  
Dividend and interest income from marketable securities
  
$
3,574
    
$
2,219
  
Gain on marketable securities, net
  
$
-
    
$
2,942
  



The following is a summary of the Company’s available-for-sale securities recorded within Marketable securities in the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (in thousands):


   
March 31, 2024
  
   
Amortized
Costs
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
Financial Assets:
                        
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
151,538
    
$
-
    
$
(14
)
  
$
151,524
  
Commercial paper
    
30,758
      
-
      
(14
)
    
30,744
  
Total
  
$
182,296
    
$
-
    
$
(28
)
  
$
182,268
  


   
December 31, 2023
  
   
Amortized
Costs
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
Financial Assets:
                        
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
82,625
    
$
15
    
$
-
    
$
82,640
  
Commercial paper
    
41,229
      
7
      
-
      
41,236
  
Total
  
$
123,854
    
$
22
    
$
-
    
$
123,876
  



The fair values of the Company’s available-for-sale securities included within Marketable securities in the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, by remaining contractual maturity, are as follows (in thousands):


   
March 31, 2024
  
   
One Year
or Less
    
Over
One Year
Through
Five Years
    
Over
Five Years
    
Total
  
Financial Assets:
                        
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
151,524
    
$
-
    
$
-
    
$
151,524
  
Commercial paper
    
30,744
      
-
      
-
      
30,744
  
Total
  
$
182,268
    
$
-
    
$
-
    
$
182,268
  

   
December 31, 2023
 
   
One Year
or Less
    
Over
One Year
Through
Five Years
    
Over
Five Years
    
Total
  
Financial Assets:
                        
Short-term marketable securities:
                        
U.S. Treasury securities
  
$
82,640
    
$
-
    
$
-
    
$
82,640
  
Commercial paper
    
41,236
      
-
      
-
      
41,236
  
Total
  
$
123,876
    
$
-
    
$
-
    
$
123,876