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v3.23.1

Marketable Securities | 3 Months Ended
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Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | 3. Marketable Securities The amortized cost and estimated fair value of marketable securities, by contractual maturity are as follows:
|  | March 31, 2023 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Fair Value |
Maturing in one year or less |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 5,000 |  |  | $ | — |  |  | $ | (2 | ) |  | $ | 4,998 |
U.S. Treasuries |  |  | 136,982 |  |  |  | — |  |  |  | (178 | ) |  |  | 136,804 |
Maturing after one year through five years |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasuries |  |  | 25,937 |  |  |  | 6 |  |  |  | — |  |  |  | 25,943 |
Total |  | $ | 167,919 |  |  | $ | 6 |  |  | $ | (180 | ) |  | $ | 167,745 |
|  | December 31, 2022 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Fair Value |
Maturing in one year or less |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 5,001 |  |  | $ | — |  |  | $ | (56 | ) |  | $ | 4,945 |
U.S. Treasuries |  |  | 116,432 |  |  |  | — |  |  |  | (617 | ) |  |  | 115,815 |
Maturing after one year through five years |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasuries |  |  | 51,876 |  |  |  | — |  |  |  | (97 | ) |  |  | 51,779 |
Total |  | $ | 173,309 |  |  | $ | — |  |  | $ | (770 | ) |  | $ | 172,539 |
The unrealized losses of the Company’s marketable securities above were a result of market interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than par value. The Company’s intent is to hold the investments until their maturity and any change in fair value that is not credit related is recognized as other comprehensive income (loss), net of applicable taxes. A credit-related impairment is recognized as an allowance to the balance sheet with a corresponding adjustment to earnings. The Company did no t recognize any credit losses related to marketable securities for the three months ended March 31, 2023.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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