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Marketable Securities (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-sale Marketable Securities

The following table summarizes the Company’s available-for-sale marketable securities:

 

 

September 30, 2024

 

 

 

Amortized
Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Estimated Fair
Value

 

 

 

(In thousands)

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and other government-backed securities

 

$

432,997

 

 

$

1,345

 

 

$

(53

)

 

$

434,289

 

Financial institution debt securities

 

 

248,197

 

 

 

1,437

 

 

 

(27

)

 

 

249,607

 

Corporate debt securities

 

 

104,174

 

 

 

584

 

 

 

(19

)

 

 

104,739

 

Other asset-backed securities

 

 

35,521

 

 

 

30

 

 

 

-

 

 

 

35,551

 

Total

 

$

820,889

 

 

$

3,396

 

 

$

(99

)

 

$

824,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

Amortized
Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Estimated Fair
Value

 

 

 

(In thousands)

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and other government-backed securities

 

$

382,260

 

 

$

302

 

 

$

(254

)

 

$

382,308

 

Financial institution debt securities

 

 

246,270

 

 

 

92

 

 

 

(243

)

 

 

246,119

 

Corporate debt securities

 

 

97,490

 

 

 

53

 

 

 

(135

)

 

 

97,408

 

Other asset-backed securities

 

 

59,453

 

 

 

75

 

 

 

(24

)

 

 

59,504

 

Total

 

$

785,473

 

 

$

522

 

 

$

(656

)

 

$

785,339