XML 22 R10.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Marketable Investment Securities
3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Marketable Investment Securities

(4) Marketable Investment Securities

 

The Company has classified its marketable investment securities as available-for-sale securities, all of which are debt securities. These securities are carried at fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive income (loss) in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security as of March 31, 2024, and December 31, 2023, were as follows:

 

March 31, 2024  Amortized Cost   Gross unrealized holding gains   Gross unrealized holding losses   Aggregate fair value 
                 
Government treasury bills  $8,614,220   $-   $(380)  $8,613,840 
U.S. government agency securities   12,947,045    -    (10,224)   12,936,821 
                     
   $21,561,265   $-   $(10,604)  $21,550,661 

 

December 31, 2023  Amortized Cost   Gross unrealized holding gains   Gross unrealized holding losses   Aggregate fair value 
                 
Government treasury bills  $14,272,530   $8,574   $-   $14,281,104 
U.S. government agency securities   2,983,999    -    (1,315)   2,982,684 
                     
   $17,256,529   $8,574   $(1,315)  $17,263,788 

 

 

Maturities of debt securities classified as available-for-sale securities as of March 31, 2024 are as follows:

 

 

March 31, 2024  Amortized Cost   Aggregate fair value 
Due within one year  $21,561,265   $21,550,661 
   $21,561,265   $21,550,661 

 

There were no sales of marketable investment securities during the three months ended March 31, 2024 and 2023 and therefore no realized gains or losses. Additionally, during the three months ended March 31, 2024 and 2023, $6.7 million and $12.0 million of marketable investment securities matured, respectively. The Company determined there were no other-than-temporary impairments for the three months ended March 31, 2024 and 2023.