INVESTMENTS (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
	(In thousands)
Net gains (losses) recognized on equity securities	$	2,928	$	(14,480)	$	88,998	$	10,730
Less: Net gains recognized on equity securities sold	(1,780)		—		(81,580)		—
Net gains (losses) recognized on equity securities still held	$	1,148	$	(14,480)	$	7,418	$	10,730

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 September 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	$	82,767	$	21	$	(2,125)	$	80,663

Total available-for-sale securities	$	82,767	$	21	$	(2,125)	$	80,663


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


	(In thousands)
Due within 1 year	$	757
Due after 1 year through 5 years	24,609
Due after 5 years through 10 years	27,785
Due after 10 years	27,512
Total	$	80,663