Note 10 - Investments in Marketable Securities |
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| Investment in Debt and Equity Securities and Other Trading Assets [Text Block] |
Note 10 – Investments in Marketable Securities
Our investments in marketable equity securities are carried at fair value with the changes in unrealized gains and losses recognized in our results of operations at each measurement date. Our investments in marketable debt securities are classified as available for sale securities and carried at fair value with the unrealized gains and losses recognized through accumulated other comprehensive income at each measurement date. Any credit-related decline in fair market values below the amortized cost of our available for sale debt securities are recorded in our results of operations through an allowance for credit losses. Realized gains and losses from securities sales are recognized in results of operations upon disposition of the securities using the specific identification method on a trade date basis. Refer to Note 11 – Fair Value Measurements for a description of the Company's methodology for determining the fair value of marketable securities.
Marketable securities consist of the following (in thousands):
Included in the marketable equity securities are the following (in thousands, except share amounts):
The amortized cost and estimated fair value of debt securities classified as available for sale, by contractual maturity, are as follows (in thousands):
Gross unrealized gains related to marketable equity securities are $129,818,000 and $137,436,000 as of September 30, 2026 and December 31, 2025, respectively. Gross unrealized losses related to marketable equity securities are $540,000 and $547,000 as of September 30, 2026 and December 31, 2025, respectively. For the three months ended September 30, 2026 and 2025, the Company recognized net unrealized losses of $17,599,000 and net unrealized gains of $20,827,000, respectively, for the changes in fair market value of the marketable equity securities in the interim condensed consolidated statements of operations. For the nine months ended September 30, 2026 and 2025, the Company recognized net unrealized losses of $7,610,000 and net unrealized gains of $26,748,000, respectively, for the changes in fair market value of the marketable equity securities in the interim condensed consolidated statements of operations.
Gross unrealized gains related to available for sale marketable debt securities are $10,000 and $1,464,000 as of September 30, 2026 and December 31, 2025, respectively. Gross unrealized losses related to available for sale marketable debt securities are $5,498,000 and $2,181,000 as of September 30, 2026 and December 31, 2025, respectively.
The Company’s unrealized losses in our available for sale marketable debt securities were determined to be non-credit related. The Company has not recognized any credit related impairments for the nine months ended September 30, 2026 and 2025.
For the marketable debt securities in gross unrealized loss positions, (a) it is more likely than not that the Company will not be required to sell the investment securities before recovery of the unrealized losses, and (b) the Company expects that the contractual principal and interest will be received on the investment securities.
Proceeds from the sale of available for sale marketable securities during the nine months ended September 30, 2026 and 2025 were $22,683,000 and $64,689,000, respectively. Investment gains of $1,023,000 and $872,000 were realized on these sales during the nine months ended September 30, 2026 and 2025, respectively.
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