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Investments in Available-for-Sale Securities
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investments in Available-for-Sale Securities Investments in Available-for-Sale Securities
We have invested in marketable debt securities, primarily investment-grade corporate bonds, preferred stock, and highly liquid U.S Treasury securities, which are held in the custody of a major financial institution. These securities are classified as available-for-sale and, accordingly, the unrealized gains and losses are recorded through other comprehensive income and loss. Marketable securities classified as available-for-sale securities are summarized below:
December 31, 2023
Cost BasisGross Unrealized GainsGross Unrealized LossesFair Value
U.S government and agency securities$458 $— $— $458 
Corporate notes and bonds26,040 (1,015)25,033 
Preferred stock7,839 — (478)7,361 
Total investments$34,337 $$(1,493)$32,852 
December 31, 2022
Cost BasisGross Unrealized GainsGross Unrealized LossesFair Value
U.S government and agency securities$1,059 $— $— $1,059 
Corporate notes and bonds122,257 — (5,641)116,616 
Preferred stock15,454 — (1,008)14,446 
Total investments$138,770 $— $(6,649)$132,121 
The aggregate fair value of investments with unrealized losses that had been owned for less than a year was $6,887 and $66,296 as of December 31, 2023 and 2022, respectively. The aggregate fair value of investments with unrealized losses that had been owned for more than one year was $21,543 and $64,723 as of December 31, 2023 and 2022, respectively.
Available-for-sale investments outstanding as of December 31, 2023, classified as marketable securities in our consolidated balance sheets, have maturity dates ranging from the first quarter of 2024 through the second quarter of 2026. The fair value of marketable securities as of December 31, 2023 with maturities within one year and one to five years are $12,849 and $20,003, respectively. We classify available-for-sale investments as current based on the nature of the investments and their availability to provide cash for use in current operations, if needed.