| Summary of Cost, Gross Unrealized Holding Gains and Losses, Allowances for Credit Losses and Fair Value of Available-for-Sale Investments by Types, Maturities and Classes of Securities |
The cost, gross unrealized holding gains, gross unrealized holding losses, allowances for credit losses and fair value of available-for-sale investments by types, maturities and classes of securities at June 30, 2023 and December 31, 2022 consisted of the following (in thousands):
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As of June 30, 2023 |
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Estimated |
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Allowance |
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Fair |
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Amortized |
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Unrealized |
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Unrealized |
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for Credit |
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Market |
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Maturity |
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Cost |
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Gains |
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Losses |
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Losses |
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Value |
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Certificates of deposits |
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Within 1 year |
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$ |
8,805 |
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$ |
— |
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$ |
(53 |
) |
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$ |
— |
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$ |
8,752 |
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U.S. Treasury securities |
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Within 1 year |
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205,454 |
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5 |
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(1,494 |
) |
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— |
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203,965 |
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U.S. Government agency securities |
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Within 1 year |
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22,664 |
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— |
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(114 |
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— |
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22,550 |
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Certificates of deposits |
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1 year to 2 years |
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4,607 |
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— |
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(40 |
) |
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— |
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4,567 |
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U.S. Treasury securities |
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1 year to 2 years |
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31,361 |
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— |
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(249 |
) |
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— |
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31,112 |
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U.S. Government agency securities |
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1 year to 2 years |
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5,000 |
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— |
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(55 |
) |
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— |
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4,945 |
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Total |
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$ |
277,891 |
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$ |
5 |
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$ |
(2,005 |
) |
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$ |
— |
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$ |
275,891 |
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As of December 31, 2022 |
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Estimated |
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Allowance |
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Fair |
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Amortized |
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Unrealized |
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Unrealized |
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for Credit |
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Market |
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Maturity |
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Cost |
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Gains |
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Losses |
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Losses |
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Value |
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Certificates of deposits |
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Within 1 year |
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$ |
4,092 |
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$ |
— |
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$ |
(57 |
) |
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$ |
— |
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$ |
4,035 |
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U.S. Treasury securities |
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Within 1 year |
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200,938 |
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4 |
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(2,182 |
) |
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— |
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198,760 |
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U.S. Government agency securities |
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Within 1 year |
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22,663 |
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— |
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(84 |
) |
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— |
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22,579 |
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Certificates of deposits |
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1 year to 2 years |
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3,920 |
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7 |
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(33 |
) |
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— |
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3,894 |
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U.S. Treasury securities |
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1 year to 2 years |
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68,130 |
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2 |
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(926 |
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— |
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67,206 |
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U.S. Government agency securities |
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1 year to 2 years |
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7,500 |
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— |
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(87 |
) |
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— |
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7,413 |
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Total |
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$ |
307,243 |
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$ |
13 |
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$ |
(3,369 |
) |
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$ |
— |
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$ |
303,887 |
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