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Investments (Tables)
12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Summary of investments The following tables summarize our investments as of December 31, 2024 and 2023 (in thousands):
December 31, 2024
Cost
Unrealized
Gains
Unrealized
Losses
Carrying
Amount
Publicly traded companies
$188,653
$24,262
$(107,248)
$105,667
Entities that report NAV
518,074
126,077
(34,285)
609,866
Entities that do not report NAV:
Entities with observable price changes
99,932
77,761
(2,956)
174,737
Entities without observable price changes
400,487
400,487
Investments accounted for under the equity method
N/A
N/A
N/A
186,228
Total investments
$1,207,146
$228,100
$(144,489)
$1,476,985
December 31, 2023
Cost
Unrealized
Gains
Unrealized
Losses
Carrying
Amount
Publicly traded companies
$203,467
$50,377
$(94,278)
$159,566
Entities that report NAV
507,059
192,468
(27,995)
671,532
Entities that do not report NAV:
Entities with observable price changes
97,892
77,600
(1,224)
174,268
Entities without observable price changes
368,654
368,654
Investments accounted for under the equity method
N/A
N/A
N/A
75,498
Total investments
$1,177,072
$320,445
$(123,497)
$1,449,518
Schedule of net investment income Our investment income (loss) for the years ended December 31, 2024, 2023, and 2022 consisted of the following (in
thousands):
Year Ended December 31,
2024
2023
2022
Realized gains
$59,124
(1)
$6,078
$80,435
Unrealized losses
(112,246)
(201,475)
(412,193)
Investment loss
$(53,122)
$(195,397)
$(331,758)
(1)Consists of realized gains of $117.2 million, partially offset by impairment charges of $58.1 million during the year ended December 31, 2024.