INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

The following is a summary of the Company’s investments (in thousands):


	As of
	December 31,		December 31,
	2024		2023
Equity method investments⁽¹⁾	$	79,934	$	59,655
Nonmarketable equity investments without readily determinable fair values		21,205		18,748
Nonmarketable equity investments with readily determinable fair values		76		83
Total investment securities	$	101,215	$	78,486

(1)

The book value of two equity method investments exceeded the Company’s percentage ownership share of their underlying net assets by $27.3 million and $8.7 million as of December 31, 2024. The book value of one equity method investment exceeded the Company’s percentage ownership share of their underlying net assets by $27.7 million as of December 31, 2023. The basis differences, primarily resulting from acquisition purchase price step-ups on the investments, are accounted for as goodwill (as a component of the investment), which is not tested for impairment separately. Instead, the investments are tested if there are indicators of an other-than-temporary decline in carrying value.