Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

Investment securities consisted of the following:

	March 31, 2023		December 31, 2022
Debt securities available for sale	$	71,624	$	81,643
Equity securities at fair value:
Marketable equity securities	12,973		12,724
Mutual funds invested in debt securities	22,438		22,069
Long-term investment securities at fair value (1)	29,177		28,919
Total equity securities at fair value	64,588		63,712
Total investment securities at fair value	136,212		145,355
Less:
Long-term investment securities at fair value (1)	29,177		28,919
Current investment securities at fair value	$	107,035	$	116,436
Long-term investment securities at fair value (1)	$	29,177	$	28,919
Equity-method investments	15,882		16,040
Total long-term investments	$	45,059	$	44,959
Equity securities at cost (2)
Other equity securities at cost	$	2,755	$	2,755

(1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820.

(2) These assets are without readily determinable fair values that do not qualify for the NAV practical expedient and are included in Other assets on the condensed consolidated balance sheets.

The components of debt securities available for sale at March 31, 2023 were as follows:    

	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable debt securities	$	71,580	$	44	$	—	$	71,624

The components of debt securities available for sale at December 31, 2022 were as follows:

	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable debt securities	$	81,629	$	14	$	—	$	81,643

The following is a summary of unrealized and realized net gains and losses recognized in net income on equity securities at fair value during the three months ended March 31, 2023 and 2022, respectively:

	Three Months Ended
	March 31,
	2023		2022
Net gains (losses) recognized on equity securities	$	218	$	(1,874)
Less: Net gains recognized on equity securities sold	116		293
Net unrealized gains (losses) recognized on equity securities still held at the reporting date	$	102	$	(2,167)

Schedule of Net (Losses) Gains Recognized on Investment Securities

Net losses recognized on investment securities were as follows:

	Three Months Ended
	March 31,
	2023		2022
Net gains (losses) recognized on equity securities	$	218	$	(1,874)
Net losses recognized on debt securities available for sale	(180)		—
Impairment expense	(44)		(1,165)
Net losses recognized on investment securities	$	(6)	$	(3,039)

Gross realized gains and losses on debt securities available for sale were as follows:

	Three Months Ended
	March 31,
	2023		2022
Gross realized gains on sales	$	4	$	1
Gross realized losses on sales	(184)		(1)
Net losses recognized on debt securities available for sale	$	(180)	$	—
Impairment expense	$	(44)	$	(1,165)

Schedule of Maturity Dates of Debt Securities

The table below summarizes the maturity dates of debt securities available for sale at March 31, 2023.

Investment Type:	Fair Value		Under 1 Year		1 Year up to 5 Years		More than 5 Years
U.S. Government securities	$	788	$	788	$	—	$	—
Corporate securities	30,593		18,003		12,590		—
U.S. mortgage-backed securities	26,235		13,260		12,975		—
U.S. treasury bills	14,008		14,008		—		—
Total debt securities available for sale by maturity dates	$	71,624	$	46,059	$	25,565	$	—

Schedule of Equity Method Investments

Equity-method investments consisted of the following:

	March 31, 2023		December 31, 2022
Mutual fund and hedge funds	$	15,882	$	16,040

Equity in losses from investments were:

	Three Months Ended
	March 31,
	2023		2022
Mutual fund and hedge funds	$	(159)	$	(2,242)