INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

The portion of net gains included in Cadence’s condensed consolidated income statements related to equity securities still held at the end of the period were as follows:


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
	(In thousands)
Net gains recognized on equity securities	$	72,066	$	38,470	$	85,770	$	25,211
Less: Net gains recognized on equity securities sold	(65,844)		—		(65,110)		—
Net gains recognized on equity securities still held	$	6,222	$	38,470	$	20,660	$	25,211

Unrealized Gain (Loss) on Investments

The following is a summary of Cadence’s available-for-sale debt securities recorded within prepaid expenses and other on its condensed consolidated balance sheets:


	As of June 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Available-for-sale debt securities
Mortgage-backed and asset-backed securities	$	80,392	$	375	$	(540)	$	80,227

Total available-for-sale securities	$	80,392	$	375	$	(540)	$	80,227


	As of December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
Available-for-sale debt securities
Mortgage-backed and asset-backed securities	$	70,317	$	852	$	(199)	$	70,970

Total available-for-sale securities	$	70,317	$	852	$	(199)	$	70,970

Investments Classified by Contractual Maturity Date

As of June 30, 2026, the fair values of available-for-sale debt securities, by remaining contractual maturity, were as follows:


	(In thousands)
Due within 1 year	$	766
Due after 1 year through 5 years	22,219
Due after 5 years through 10 years	27,961
Due after 10 years	29,281
Total	$	80,227