v3.25.2
Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Financial Instruments  
Schedule of available-for-sale securities

June 30, 2025

December 31, 2024

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
Loss

    

Estimated Fair Value

    

Amortized
Cost

    

Gross
Unrealized
Gain

    

Gross
Unrealized
Loss

 

Estimated Fair Value

(in thousands)

 

Cash, cash equivalents and restricted cash (2)

$

1,000,021

$

$

$

1,000,021

$

945,587

$

$

$

945,587

Municipal securities (1)

16,000

(25)

15,975

23,019

(330)

22,689

Total

$

1,016,021

$

$

(25)

$

1,015,996

$

968,606

$

$

(330)

$

968,276

Classified as:

Cash, cash equivalents and restricted cash (2)

1,000,021

945,587

Short-term investments

15,975

22,689

Total

$

1,015,996

$

968,276

(1)Per the Company’s investment policy, all debt securities are classified as short-term investments irrespective of holding period.  
(2)Cash equivalents includes liquid demand deposits and money market funds.
Schedule of debt securities available-for-sale in unrealized loss position

Total

Fair Value

Unrealized Loss

(in thousands)

Municipal securities

11,975

(25)

Total

$

11,975

$

(25)

Summarized portfolio of available-for-sale securities by contractual maturity