| Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:
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June 30, 2026 |
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Total |
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Level 1 |
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Level 2 |
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|
Level 3 |
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|
(in thousands) |
|
Equity securities, debt securities and cash equivalents |
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|
|
|
|
|
|
|
|
|
|
U.S. government debt securities |
$ |
401,909 |
|
|
$ |
— |
|
|
$ |
401,909 |
|
|
$ |
— |
|
U.S. agency debt securities |
|
80,954 |
|
|
|
— |
|
|
|
80,954 |
|
|
|
— |
|
Corporate debt securities |
|
40,887 |
|
|
|
— |
|
|
|
40,887 |
|
|
|
— |
|
Preferred stock of privately-held companies |
|
15,001 |
|
|
|
— |
|
|
|
— |
|
|
|
15,001 |
|
Money market accounts |
|
5,108 |
|
|
|
5,108 |
|
|
|
— |
|
|
|
— |
|
Municipal bonds |
|
1,293 |
|
|
|
— |
|
|
|
1,293 |
|
|
|
— |
|
Total equity securities, debt securities and cash equivalents |
$ |
545,152 |
|
|
$ |
5,108 |
|
|
$ |
525,043 |
|
|
$ |
15,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
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|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
(in thousands) |
|
Equity securities, debt securities and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
U.S. government debt securities |
$ |
448,233 |
|
|
$ |
— |
|
|
$ |
448,233 |
|
|
$ |
— |
|
U.S. agency debt securities |
|
157,557 |
|
|
|
— |
|
|
|
157,557 |
|
|
|
— |
|
Corporate debt securities |
|
47,481 |
|
|
|
— |
|
|
|
47,481 |
|
|
|
— |
|
Money market accounts |
|
18,398 |
|
|
|
18,398 |
|
|
|
— |
|
|
|
— |
|
Preferred stock of privately-held companies |
|
15,001 |
|
|
|
— |
|
|
|
— |
|
|
|
15,001 |
|
Municipal bonds |
|
1,387 |
|
|
|
— |
|
|
|
1,387 |
|
|
|
— |
|
Yankee debt securities |
|
495 |
|
|
|
— |
|
|
|
495 |
|
|
|
— |
|
Total equity securities, debt securities and cash equivalents |
$ |
688,552 |
|
|
$ |
18,398 |
|
|
$ |
655,153 |
|
|
$ |
15,001 |
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