INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

Investment securities consisted of the following:

	March 31, 2024		December 31, 2023
Debt securities available for sale	$	91,157	$	73,225
Equity securities at fair value:
Marketable equity securities	14,139		14,286
Mutual funds invested in debt securities	23,726		23,424
Long-term investment securities at fair value (1)	30,461		29,402
Total equity securities at fair value	68,326		67,112
Total investment securities at fair value	159,483		140,337
Less:
Long-term investment securities at fair value (1)	30,461		29,402
Current investment securities at fair value	$	129,022	$	110,935
Long-term investment securities at fair value (1)	$	30,461	$	29,402
Equity-method investments	19,495		17,358
Total long-term investments	$	49,956	$	46,760
Equity securities and other long-term investments at cost (2)	$	7,555	$	7,555

(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 as of March 31, 2024 were as follows:    

	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable debt securities	$	91,101	$	56	$	—	$	91,157

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

	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable debt securities	$	72,939	$	286	$	—	$	73,225

The following is a summary of unrealized and realized net gains recognized in net income on equity securities at fair value during the three months ended March 31, 2024 and 2023, respectively:

	Three Months Ended
	March 31,
	2024		2023
Net gains recognized on equity securities	$	1,220	$	218
Less: Net gains recognized on equity securities sold	95		116
Net unrealized gains recognized on equity securities still held at the reporting date	$	1,125	$	102

Schedule of Net Gains (Losses) Recognized on Investment Securities

Net gains (losses) recognized on investment securities were as follows:

	Three Months Ended
	March 31,
	2024		2023
Net gains recognized on equity securities	$	1,220	$	218
Net gains (losses) recognized on debt securities available for sale	1		(180)
Impairment expense	(25)		(44)
Net gains (losses) recognized on investment securities	$	1,196	$	(6)

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

	Three Months Ended
	March 31,
	2024		2023
Gross realized gains on sales	$	1	$	4
Gross realized losses on sales	—		(184)
Net gains (losses) recognized on debt securities available for sale	$	1	$	(180)
Impairment expense	$	(25)	$	(44)

Schedule of Maturity Dates of Debt Securities

The table below summarizes the maturity dates of debt securities available for sale as of March 31, 2024.

Investment Type:	Fair Value		Under 1 Year		1 Year up to 5 Years		More than 5 Years
U.S. government securities	$	64,074	$	38,838	$	25,236	$	—
Corporate securities	9,327		9,327		—		—
U.S. mortgage-backed securities	13,300		13,169		131		—
Commercial paper	4,456		4,456		—		—
Total debt securities available for sale by maturity dates	$	91,157	$	65,790	$	25,367	$	—

Schedule of Equity Method Investments

Equity-method investments consisted of the following:

	March 31, 2024		December 31, 2023
Mutual fund and hedge funds	$	19,495	$	17,358

Equity in earnings (losses) from investments were:

	Three Months Ended
	March 31,
	2024		2023
Mutual fund and hedge funds	$	2,138	$	(159)