As of December 31, 2025, the Company held an auction rate security with a par value of $3,000,000 and an estimated fair value of approximately $2,462,000, purchased through and held in custody by a broker-dealer affiliate of Bank of America, N.A., that had experienced failed auctions (the “Failed Auction Security”) since February 2008. On September 22, 2026, the Failed Auction Security was fully redeemed for $3,000,000, the par value. Through September 22, 2026, the Company had continued to receive interest payments on the Failed Auction Security in accordance with the terms of its indenture.

Details of our investments are as follows (in thousands):


	September 30, 2026
	Cash and Cash
	Equivalents
Measured at fair value:
Available-for-sale securities:
Money market funds	$	461,056
Total		461,056

Other measurement basis:
Cash on hand		52,081
Total	$	513,137


	December 31, 2025
	Cash and Cash		Long-Term
	Equivalents		Investment
Measured at fair value:
Available-for-sale securities:
Money market funds	$	367,340	$	—
Failed Auction Security		—		2,462
Total		367,340		2,462

Other measurement basis:
Cash on hand		35,465		—
Total	$	402,805	$	2,462