Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of available-for-sale securities

The following is a summary of Cadence’s available-for-sale debt securities recorded within prepaid expenses and other on the consolidated balance sheet as of December 31, 2023:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Available-for-sale securities
Mortgage-backed and asset-backed securities	$	49,653	$	375	$	(243)	$	49,785
Total available-for-sale securities	$	49,653	$	375	$	(243)	$	49,785

Available-for-sale investments by contractual maturity

As of December 31, 2023, the fair values of available-for-sale debt securities, by remaining contractual maturity, were as follows:

	(In thousands)
Due within 1 year	$	—
Due after 1 year through 5 years	10,027
Due after 5 years through 10 years	16,180
Due after 10 years	23,578
Total	$	49,785