v3.24.2.u1
CASH, CASH EQUIVALENTS AND INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2024
Cash and Cash Equivalents [Abstract]  
Schedule of Cash, Cash Equivalents

The following table provides details regarding the Company’s portfolio of cash and cash equivalents (in thousands):

 

 

 

Cost or

 

 

Unrealized

 

 

Aggregate Fair

 

Cash and Cash Equivalents Classification

 

Amortized Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

66,079

 

 

$

—

 

 

$

—

 

 

$

66,079

 

Money market accounts

 

 

26,777

 

 

 

—

 

 

 

—

 

 

 

26,777

 

 

 

$

92,856

 

 

$

—

 

 

$

—

 

 

$

92,856

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Cash accounts in banking institutions

 

$

91,717

 

 

$

—

 

 

$

—

 

 

$

91,717

 

Money market accounts

 

 

268

 

 

 

—

 

 

 

—

 

 

 

268

 

 

 

$

91,985

 

 

$

—

 

 

$

—

 

 

$

91,985

 
Schedule of Investments

The following table provides details regarding the Company’s portfolio of short-term investments (in thousands):

 

 

 

Cost or

 

 

Unrealized

 

 

Aggregate Fair

 

Short-term Investments Classification

 

Amortized Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

148

 

 

$

—

 

 

$

—

 

 

$

148

 

U.S. Government bonds

 

 

438,274

 

 

 

18

 

 

 

(878

)

 

 

437,414

 

Marketable securities (1)

 

 

102

 

 

 

—

 

 

 

—

 

 

 

105

 

 

 

$

438,524

 

 

$

18

 

 

$

(878

)

 

$

437,667

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

1,763

 

 

$

1

 

 

$

(5

)

 

$

1,759

 

U.S. Government bonds

 

 

420,769

 

 

 

303

 

 

 

(694

)

 

 

420,378

 

 

 

$

422,532

 

 

$

304

 

 

$

(699

)

 

$

422,137

 

 

(1)
Changes in aggregate fair market value recorded in other loss, net on the Consolidated Statements of Income.

Long-term U.S. Government Bond Investments

The following table provides details regarding the Company’s portfolio of long-term investments (in thousands):

 

 

 

Cost or

 

 

Unrealized

 

 

Aggregate Fair

 

Long-term Investments Classification

 

Amortized Cost

 

 

Gains

 

 

(Losses)

 

 

Market Value

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government bonds

 

$

349,476

 

 

$

120

 

 

$

(1,183

)

 

$

348,413

 

 

 

$

349,476

 

 

$

120

 

 

$

(1,183

)

 

$

348,413

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government bonds

 

$

284,053

 

 

$

1,457

 

 

$

(8

)

 

$

285,502

 

 

 

$

284,053

 

 

$

1,457

 

 

$

(8

)

 

$

285,502