Investments in debt and equity securities

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Investments in debt and equity securities

Short-term and long-term investments

The Company’s short-term and long-term investments, consisting of debt instruments classified as held-to-maturity and equity investments with readily determinable fair values or redemption values, were as follows:

	September 30, 2024						December 31, 2023
	Debt securities		Equity securities		Total		Debt securities		Equity securities		Total
Certificates of deposit and other time deposits	$	15,296	$	—	$	15,296	$	22,109	$	—	$	22,109
Investments in mutual funds and common stocks	—		39,544		39,544		—		37,391		37,391
	$	15,296	$	39,544	$	54,840	$	22,109	$	37,391	$	59,500
Short-term investments	$	15,296	$	5,700	$	20,996	$	7,110	$	4,500	$	11,610
Long-term investments	—		33,844		33,844		14,999		32,891		47,890
	$	15,296	$	39,544	$	54,840	$	22,109	$	37,391	$	59,500

Debt securities. The Company's short-term debt investments are principally bank certificates of deposit with contractual maturities longer than three months but shorter than one year. Typically, any long-term debt investments are bank time deposits with contractual maturities longer than one year. These debt securities are accounted for as held-to-maturity and recorded at amortized cost, which approximated their fair values at September 30, 2024 and December 31, 2023.

Equity securities. Substantially all of the Company's short-term and long-term equity investments are held within a trust to fund existing obligations associated with the Company’s non-qualified deferred compensation plans.