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Investments

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

NOTE 8 — Investments

The Company has two types of investments, a certificate of deposit, which is classified as a short-term investment, and investments in securities, which are classified as available-for-sale.

The entire balance of $100,000 of the certificate of deposit is shown within short-term investments on the condensed consolidated balance sheets as of June 30, 2024 (Successor) and December 31, 2023 (Successor). The interest receivable on the certificate of deposit was $268 and $1,886 at June 30, 2024 (Successor) and December 31, 2023 (Successor), respectively, and is included in Interest receivable on the condensed consolidated balance sheets.

The following table presents the Company's available-for-sale investments included in the condensed consolidated balance sheets:

						June 30, 2024
Current assets						Amortized Cost						Unrealized Gain (Loss)						Fair Value
Corporate bonds						$	12,467					$	(19)					$	12,448
Commercial paper						19,025						—						19,025
U.S. treasuries						42,831						(84)						42,747
Total						$	74,323					$	(103)					$	74,220
Long-term assets						Amortized Cost						Unrealized Gain (Loss)						Fair Value
Corporate bonds						$	2,412					$	(7)					$	2,405
U.S. treasuries						25,116						(88)						25,028
Total						$	27,528					$	(95)					$	27,433

The cost of securities sold is based on the specific-identification method. During the period from April 1, 2024 through June 30, 2024 (Successor) and the period from January 1, 2024 through June 30, 2024 (Successor), there were no securities sold. There were no credit losses recognized during the period from April 1, 2024 through June 30, 2024 (Successor) and the period from January 1, 2024 through June 30, 2024 (Successor). The Company established no allowances for credit losses as of June 30, 2024 (Successor). The Company did not have any available-for-sale investments as of December 31, 2023 (Successor).

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

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-Publisher FASB
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