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The Company recognized stock-based compensation expense totaling $ 92.7 million, $ 99.0 million and $ 91.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. Stock-based compensation expense by award type included within the consolidated statements of operations and comprehensive loss is as follows (in thousands): | text | 91.6 | monetaryItemType | text: <entity> 91.6 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized stock-based compensation expense totaling $ 92.7 million, $ 99.0 million and $ 91.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. Stock-based compensation expense by award type included within the consolidated statements of operations and comprehensive loss is as follows (in thousands): </context> | us-gaap:AllocatedShareBasedCompensationExpense |
At December 31, 2023, there was $ 152.7 million of total unrecognized compensation cost related to non-vested stock awards, which is expected to be recognized over a weighted-average period of 2.4 years. | text | 152.7 | monetaryItemType | text: <entity> 152.7 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, there was $ 152.7 million of total unrecognized compensation cost related to non-vested stock awards, which is expected to be recognized over a weighted-average period of 2.4 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 25.81 | perShareItemType | text: <entity> 25.81 </entity> <entity type> perShareItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 32.30 | perShareItemType | text: <entity> 32.30 </entity> <entity type> perShareItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 52.93 | perShareItemType | text: <entity> 52.93 </entity> <entity type> perShareItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 11.6 | monetaryItemType | text: <entity> 11.6 </entity> <entity type> monetaryItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 11.8 | monetaryItemType | text: <entity> 11.8 </entity> <entity type> monetaryItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. | text | 52.3 | monetaryItemType | text: <entity> 52.3 </entity> <entity type> monetaryItemType </entity type> <context> The weighted average grant date fair value of options granted in the years ended December 31, 2023, 2022 and 2021 was $ 25.81 , $ 32.30 and $ 52.93 , respectively. The total intrinsic value of options exercised in the years ended December 31, 2023, 2022, and 2021 was $ 11.6 million, $ 11.8 million, and $ 52.3 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
At December 31, 2023, the total unrecognized compensation expense related to unvested stock option awards was $ 59.4 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. | text | 59.4 | monetaryItemType | text: <entity> 59.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, the total unrecognized compensation expense related to unvested stock option awards was $ 59.4 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions |
The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. | text | 31.6 | monetaryItemType | text: <entity> 31.6 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. | text | 29.4 | monetaryItemType | text: <entity> 29.4 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. | text | 91.1 | monetaryItemType | text: <entity> 91.1 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $ 31.6 million, $ 29.4 million and $ 31.6 million, respectively. As of December 31, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $ 91.1 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
As of December 31, 2023, the total unrecognized compensation expense related to unvested PSUs was $ 2.2 million, which is expected to be recognized over a weighted-average period of approximately 2.2 years. | text | 2.2 | monetaryItemType | text: <entity> 2.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the total unrecognized compensation expense related to unvested PSUs was $ 2.2 million, which is expected to be recognized over a weighted-average period of approximately 2.2 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
In 2015, the Company’s board of directors and stockholders approved the 2015 ESPP. The Company initially reserved a total of 243,347 shares of common stock for issuance under the 2015 ESPP. The 2015 ESPP provides that the | text | 243347 | sharesItemType | text: <entity> 243347 </entity> <entity type> sharesItemType </entity type> <context> In 2015, the Company’s board of directors and stockholders approved the 2015 ESPP. The Company initially reserved a total of 243,347 shares of common stock for issuance under the 2015 ESPP. The 2015 ESPP provides that the </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. | text | 3651042 | sharesItemType | text: <entity> 3651042 </entity> <entity type> sharesItemType </entity type> <context> number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. | text | 96290 | sharesItemType | text: <entity> 96290 </entity> <entity type> sharesItemType </entity type> <context> number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. </context> | us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans |
number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. | text | 80717 | sharesItemType | text: <entity> 80717 </entity> <entity type> sharesItemType </entity type> <context> number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. </context> | us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans |
number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. | text | 43167 | sharesItemType | text: <entity> 43167 </entity> <entity type> sharesItemType </entity type> <context> number of shares reserved and available for issuance under the 2015 ESPP will be cumulatively increased on January 1 of each calendar year by 1 % of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser amount as specified by the compensation committee of the board of directors. For the calendar years beginning January 1, 2023 and 2024, the number of shares reserved for issuance under the 2015 ESPP was increased by 599,589 and 611,472 shares, respectively. As of December 31, 2023, there were 3,651,042 shares available for issuance under the 2015 ESPP. The Company issued 96,290 , 80,717 , and 43,167 shares under the ESPP during the years ended December 31, 2023, 2022, and 2021 respectively. </context> | us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans |
Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. | text | 774.8 | monetaryItemType | text: <entity> 774.8 </entity> <entity type> monetaryItemType </entity type> <context> Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. | text | 625.1 | monetaryItemType | text: <entity> 625.1 </entity> <entity type> monetaryItemType </entity type> <context> Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. | text | 149.7 | monetaryItemType | text: <entity> 149.7 </entity> <entity type> monetaryItemType </entity type> <context> Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. | text | 148.9 | monetaryItemType | text: <entity> 148.9 </entity> <entity type> monetaryItemType </entity type> <context> Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefits of its net federal, foreign and state deferred tax assets, and as a result, a valuation allowance of $ 774.8 million and $ 625.1 million has been established at December 31, 2023 and 2022, respectively. The change in the valuation allowance was $ 149.7 million and $ 148.9 million for the years ended December 31, 2023 and 2022, respectively. The increase of deferred tax asset between December 31, 2023 and 2022 is primarily driven by the generation of federal and state net operating losses and the generation of research and development and orphan drug credits, as well as the Tax Cuts and Jobs Act effective January 1, 2022 requiring capitalization and amortization of all Sec. 174 costs associated with research and development costs. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 809.5 | monetaryItemType | text: <entity> 809.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:OperatingLossCarryforwards |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 1038.2 | monetaryItemType | text: <entity> 1038.2 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:OperatingLossCarryforwards |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 30.5 | monetaryItemType | text: <entity> 30.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:TaxCreditCarryforwardAmount |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 25.1 | monetaryItemType | text: <entity> 25.1 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:TaxCreditCarryforwardAmount |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 156.8 | monetaryItemType | text: <entity> 156.8 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:TaxCreditCarryforwardAmount |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:TaxCreditCarryforwardAmount |
The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company has incurred net operating losses (NOL) since inception with the exception of years 2020 and 2022. As of December 31, 2023, the Company had federal and state NOL carryforwards of $ 809.5 million and $ 1,038.2 million, respectively, which begin to expire in 2030, and of which $ 793.6 million of the Company’s federal NOL is post 2017 NOL that will be carried forward indefinitely. As of December 31, 2023, the Company had federal and state research and development tax credit carryforwards of $ 30.5 million and $ 25.1 million, respectively, which begin to expire in 2039 and 2028 respectively. As of December 31, 2023, the Company had federal orphan drug credits of $ 156.8 million, which begin to expire in 2035 and state investment tax credits of $ 0.6 million, which have begun to expire in 2023. As of December 31, 2023, the Company has foreign tax credits of $ 2.5 million which will expire in 2031. </context> | us-gaap:TaxCreditCarryforwardAmount |
Interest and penalty charges, if any, related to unrecognized tax benefits would be classified as income tax expense in the accompanying statements of operations and comprehensive income (loss). As of December 31, 2023, the Company had $ 0.2 million of gross unrecognized tax benefit, excluding interest and penalties. As of December 31, 2023, the Company was open to examination in the U.S. federal and certain state jurisdictions for all of the Company’s tax years since the net operating losses may potentially be utilized in future years to reduce taxable income. Since the Company is in a loss carryforward position, it is generally subject to examination by the U.S. federal, state, and local income tax authorities for all tax years in which a loss carryforward is available. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> Interest and penalty charges, if any, related to unrecognized tax benefits would be classified as income tax expense in the accompanying statements of operations and comprehensive income (loss). As of December 31, 2023, the Company had $ 0.2 million of gross unrecognized tax benefit, excluding interest and penalties. As of December 31, 2023, the Company was open to examination in the U.S. federal and certain state jurisdictions for all of the Company’s tax years since the net operating losses may potentially be utilized in future years to reduce taxable income. Since the Company is in a loss carryforward position, it is generally subject to examination by the U.S. federal, state, and local income tax authorities for all tax years in which a loss carryforward is available. </context> | us-gaap:UnrecognizedTaxBenefits |
On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. | text | 175.0 | monetaryItemType | text: <entity> 175.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. | text | 250.0 | monetaryItemType | text: <entity> 250.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. | text | 425.0 | monetaryItemType | text: <entity> 425.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 30, 2022 , the Company entered into a Royalty Purchase Agreement with Royalty Pharma and a Future Revenue Purchase Agreement with Sixth Street Partners. Pursuant to the agreements, the Company received gross proceeds of $ 175.0 million from Royalty Pharma in June 2022 and $ 250.0 million from Sixth Street Partners in July 2022 upon the transactions closing. The total cash consideration of $ 425.0 million, in its entirety, was considered taxable income for calendar year ended December 31, 2022. Therefore, the $ 425.0 million was included in the estimated taxable income for the year ended December 31, 2022. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
On August 1, 2022, the Company entered into the IDRx License Agreement and IDRx Stock Purchase Agreement. Pursuant to these agreements, the Company licensed its internally discovered KIT exon 13 inhibitor to IDRx in exchange for a 4,509,105 shares of IDRx’s Series A preferred stock and the eligibility to receive future milestones and tiered royalty payments. For book and tax purposes, the value of the equity totaling $ 27.5 million was included in the taxable income for the year ended December 31, 2022. | text | 27.5 | monetaryItemType | text: <entity> 27.5 </entity> <entity type> monetaryItemType </entity type> <context> On August 1, 2022, the Company entered into the IDRx License Agreement and IDRx Stock Purchase Agreement. Pursuant to these agreements, the Company licensed its internally discovered KIT exon 13 inhibitor to IDRx in exchange for a 4,509,105 shares of IDRx’s Series A preferred stock and the eligibility to receive future milestones and tiered royalty payments. For book and tax purposes, the value of the equity totaling $ 27.5 million was included in the taxable income for the year ended December 31, 2022. </context> | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
The Company recorded an income tax provision of $ 1.0 million for the year ended December 31, 2023 due to the impact of recording unfavorable discrete items in the period, and taxable income from the jurisdictions in which the Company is subject to tax. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company recorded an income tax provision of $ 1.0 million for the year ended December 31, 2023 due to the impact of recording unfavorable discrete items in the period, and taxable income from the jurisdictions in which the Company is subject to tax. </context> | us-gaap:IncomeTaxExpenseBenefit |
As of December 31, 2023, the Company had gross unrecognized tax benefit, excluding interest and penalties of approximately $ 0.2 million. The following table provides the reconciliation of the total amounts of the Company’s unrecognized tax benefits for the year ended December 31, 2023 (in thousands): | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the Company had gross unrecognized tax benefit, excluding interest and penalties of approximately $ 0.2 million. The following table provides the reconciliation of the total amounts of the Company’s unrecognized tax benefits for the year ended December 31, 2023 (in thousands): </context> | us-gaap:UnrecognizedTaxBenefits |
As of December 31, 2022, the Company did no t have any gross unrecognized tax benefit. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of December 31, 2023, the Company recorded an insignificant amount of interest and penalties related to uncertain tax positions. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company did no t have any gross unrecognized tax benefit. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of December 31, 2023, the Company recorded an insignificant amount of interest and penalties related to uncertain tax positions. </context> | us-gaap:UnrecognizedTaxBenefits |
In February 2015, the Company entered into a lease for approximately 39,000 rentable square feet of office and laboratory space at 38 Sidney Street in Cambridge, Massachusetts, which was extended in December 2021. The extended lease term will expire on November 30, 2029. The Company agreed to pay an initial annual base rent of approximately $ 4.5 million, which rises annually until it reaches approximately $ 5.5 million. The lease extension provided the Company with an allowance for leasehold improvements of $ 0.8 million improvements to be made to the premises. A security deposit of $ 0.9 million was recorded as restricted cash on the Company’s consolidated balance sheet as of December 31, 2023. The Company’s sublease agreements for the 38 Sidney Street property expired in 2022. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> In February 2015, the Company entered into a lease for approximately 39,000 rentable square feet of office and laboratory space at 38 Sidney Street in Cambridge, Massachusetts, which was extended in December 2021. The extended lease term will expire on November 30, 2029. The Company agreed to pay an initial annual base rent of approximately $ 4.5 million, which rises annually until it reaches approximately $ 5.5 million. The lease extension provided the Company with an allowance for leasehold improvements of $ 0.8 million improvements to be made to the premises. A security deposit of $ 0.9 million was recorded as restricted cash on the Company’s consolidated balance sheet as of December 31, 2023. The Company’s sublease agreements for the 38 Sidney Street property expired in 2022. </context> | us-gaap:SecurityDeposit |
The Company has agreed to pay for the 99,833 rentable square feet an initial annual base rent of approximately $ 7.7 million, which increases annually until it reaches approximately $ 10.6 million in the last year of the initial term. The Company has also agreed to pay an initial annual base rent of approximately $ 3.2 million for the expansion premises, which increases annually until it reaches approximately $ 4.2 million in the last year of the initial term for the expansion premises. The amended lease provided the Company with a total tenant improvement allowance of approximately $ 17.4 million for improvements to be made to the premises. A security deposit of $ 3.3 million was recorded as restricted cash on the Company’s consolidated balance sheet as of December 31, 2023. | text | 3.3 | monetaryItemType | text: <entity> 3.3 </entity> <entity type> monetaryItemType </entity type> <context> The Company has agreed to pay for the 99,833 rentable square feet an initial annual base rent of approximately $ 7.7 million, which increases annually until it reaches approximately $ 10.6 million in the last year of the initial term. The Company has also agreed to pay an initial annual base rent of approximately $ 3.2 million for the expansion premises, which increases annually until it reaches approximately $ 4.2 million in the last year of the initial term for the expansion premises. The amended lease provided the Company with a total tenant improvement allowance of approximately $ 17.4 million for improvements to be made to the premises. A security deposit of $ 3.3 million was recorded as restricted cash on the Company’s consolidated balance sheet as of December 31, 2023. </context> | us-gaap:SecurityDeposit |
contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. | text | 4.6 | monetaryItemType | text: <entity> 4.6 </entity> <entity type> monetaryItemType </entity type> <context> contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. | text | 3.7 | monetaryItemType | text: <entity> 3.7 </entity> <entity type> monetaryItemType </entity type> <context> contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> contributed to the 401(k) Plan. The 401(k) Plan permits the Company to make contributions up to the limits allowed by law on behalf of all eligible employees. The expense related to the 401(k) Plan primarily consists of the Company’s matching contributions. The expenses related to the 401(k) Plan for the years ended December 31, 2023, 2022 and 2021 were $ 4.6 million, $ 3.7 million and $ 3.0 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanNetPeriodicBenefitCost |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanNetPeriodicBenefitCost |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanNetPeriodicBenefitCost |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 was $ 1.0 million, $ 1.2 million and $ 2.0 million, respectively. The contributions to the Swiss Plan for the years ended December 31, 2023, 2022 and 2021 were $ 1.0 million, $ 0.8 million, and $ 0.6 million. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
In connection with the commercialization of AYVAKIT/AYVAKYT, the Company has negotiated manufacturing agreements with certain vendors that require the Company to meet minimum purchase obligations on an annual basis. We also have unconditional purchase obligations related to certain clinical manufacturing agreements. The aggregate amount of future unconditional purchase obligations under these manufacturing agreements over the period of next five years is approximately $ 7.0 million as of December 31, 2023. | text | 7.0 | monetaryItemType | text: <entity> 7.0 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the commercialization of AYVAKIT/AYVAKYT, the Company has negotiated manufacturing agreements with certain vendors that require the Company to meet minimum purchase obligations on an annual basis. We also have unconditional purchase obligations related to certain clinical manufacturing agreements. The aggregate amount of future unconditional purchase obligations under these manufacturing agreements over the period of next five years is approximately $ 7.0 million as of December 31, 2023. </context> | us-gaap:UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount |
Mercury General Corporation ("Mercury General") and its subsidiaries (referred to herein collectively as the "Company") are primarily engaged in writing personal automobile insurance through 12 Insurance Companies in 11 states, principally California. The Company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. The private passenger automobile line of insurance business accounted for more than 61 % of the Company’s direct premiums written in 2024, 2023, and 2022, and approximately 84 %, 82 %, and 82 % of the private passenger automobile premiums were written in California in 2024, 2023, and 2022, respectively. Premiums written represents the premiums charged on policies issued during a fiscal period, which is a statutory measure designed to determine production levels. | text | 11 | integerItemType | text: <entity> 11 </entity> <entity type> integerItemType </entity type> <context> Mercury General Corporation ("Mercury General") and its subsidiaries (referred to herein collectively as the "Company") are primarily engaged in writing personal automobile insurance through 12 Insurance Companies in 11 states, principally California. The Company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. The private passenger automobile line of insurance business accounted for more than 61 % of the Company’s direct premiums written in 2024, 2023, and 2022, and approximately 84 %, 82 %, and 82 % of the private passenger automobile premiums were written in California in 2024, 2023, and 2022, respectively. Premiums written represents the premiums charged on policies issued during a fiscal period, which is a statutory measure designed to determine production levels. </context> | us-gaap:NumberOfStatesInWhichEntityOperates |
Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. | text | 5.38 | monetaryItemType | text: <entity> 5.38 </entity> <entity type> monetaryItemType </entity type> <context> Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. </context> | us-gaap:PremiumsWrittenNet |
Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. | text | 4.46 | monetaryItemType | text: <entity> 4.46 </entity> <entity type> monetaryItemType </entity type> <context> Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. </context> | us-gaap:PremiumsWrittenNet |
Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. | text | 3.98 | monetaryItemType | text: <entity> 3.98 </entity> <entity type> monetaryItemType </entity type> <context> Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, was $ 5.38 billion, $ 4.46 billion, and $ 3.98 billion in 2024, 2023, and 2022, respectively. </context> | us-gaap:PremiumsWrittenNet |
The Company is the assuming reinsurer under a Catastrophe Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $ 30 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 73.5 %. | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> The Company is the assuming reinsurer under a Catastrophe Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $ 30 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 73.5 %. </context> | us-gaap:ReinsuranceRecoverablesGross |
The Company is the assuming reinsurer under a Catastrophe Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $ 30 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 73.5 %. | text | 73.5 | percentItemType | text: <entity> 73.5 </entity> <entity type> percentItemType </entity type> <context> The Company is the assuming reinsurer under a Catastrophe Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $ 30 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 73.5 %. </context> | us-gaap:ReinsuranceRetentionPolicyReinsuredRiskPercentage |
The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $ 1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $ 150 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. The Treaty provides for one full reinstatement of coverage limits with a minor exception at certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. | text | 1290 | monetaryItemType | text: <entity> 1290 </entity> <entity type> monetaryItemType </entity type> <context> The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $ 1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $ 150 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. The Treaty provides for one full reinstatement of coverage limits with a minor exception at certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. </context> | us-gaap:ReinsuranceRetentionExcessRetentionAmountReinsuredPerPolicy |
The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $ 1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $ 150 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. The Treaty provides for one full reinstatement of coverage limits with a minor exception at certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $ 1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $ 150 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. The Treaty provides for one full reinstatement of coverage limits with a minor exception at certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. </context> | us-gaap:ReinsuranceRetentionAmountRetainedPerPolicy |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 137 | monetaryItemType | text: <entity> 137 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:CededPremiumsEarned |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 109 | monetaryItemType | text: <entity> 109 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:CededPremiumsEarned |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 81 | monetaryItemType | text: <entity> 81 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:CededPremiumsEarned |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:ReinsuranceCostsAndRecoveriesNet |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:ReinsuranceCostsAndRecoveriesNet |
The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized ceded premiums earned of approximately $ 137 million, $ 109 million, and $ 81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $( 3 ) million, $ 10 million, and $( 13 ) million in 2024, 2023, and 2022, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. </context> | us-gaap:ReinsuranceCostsAndRecoveriesNet |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 25.2 | monetaryItemType | text: <entity> 25.2 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 20.8 | monetaryItemType | text: <entity> 20.8 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 18.2 | monetaryItemType | text: <entity> 18.2 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 13.4 | monetaryItemType | text: <entity> 13.4 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:CostOfGoodsAndServicesSold |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 11.4 | monetaryItemType | text: <entity> 11.4 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:CostOfGoodsAndServicesSold |
The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). | text | 11.0 | monetaryItemType | text: <entity> 11.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $ 25.2 million, $ 20.8 million and $ 18.2 million, with related expenses of approximately $ 13.4 million, $ 11.4 million and $ 11.0 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 19. Segment Information). </context> | us-gaap:CostOfGoodsAndServicesSold |
AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2024 and 2023 was approximately $ 1.7 million and $ 1.6 million, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2024 and 2023 was approximately $ 1.7 million and $ 1.6 million, respectively. </context> | us-gaap:AccountsReceivableGross |
AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2024 and 2023 was approximately $ 1.7 million and $ 1.6 million, respectively. | text | 1.6 | monetaryItemType | text: <entity> 1.6 </entity> <entity type> monetaryItemType </entity type> <context> AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2024 and 2023 was approximately $ 1.7 million and $ 1.6 million, respectively. </context> | us-gaap:AccountsReceivableGross |
A refund liability is recorded for the expected amount of the commission income that has to be returned to the insurers based on estimated policy cancellations. The refund liability is computed for the entire portfolio of contracts as a practical expedient, using the expected value method based on all relevant information, including historical data. The refund liability at December 31, 2024 and 2023 was approximately $ 1.1 million and $ 1.0 million, respectively, which was included in other liabilities in the Company's consolidated balance sheets. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> A refund liability is recorded for the expected amount of the commission income that has to be returned to the insurers based on estimated policy cancellations. The refund liability is computed for the entire portfolio of contracts as a practical expedient, using the expected value method based on all relevant information, including historical data. The refund liability at December 31, 2024 and 2023 was approximately $ 1.1 million and $ 1.0 million, respectively, which was included in other liabilities in the Company's consolidated balance sheets. </context> | us-gaap:ContractWithCustomerRefundLiability |
A refund liability is recorded for the expected amount of the commission income that has to be returned to the insurers based on estimated policy cancellations. The refund liability is computed for the entire portfolio of contracts as a practical expedient, using the expected value method based on all relevant information, including historical data. The refund liability at December 31, 2024 and 2023 was approximately $ 1.1 million and $ 1.0 million, respectively, which was included in other liabilities in the Company's consolidated balance sheets. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> A refund liability is recorded for the expected amount of the commission income that has to be returned to the insurers based on estimated policy cancellations. The refund liability is computed for the entire portfolio of contracts as a practical expedient, using the expected value method based on all relevant information, including historical data. The refund liability at December 31, 2024 and 2023 was approximately $ 1.1 million and $ 1.0 million, respectively, which was included in other liabilities in the Company's consolidated balance sheets. </context> | us-gaap:ContractWithCustomerRefundLiability |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostNet |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostNet |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 5.7 | monetaryItemType | text: <entity> 5.7 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostAccumulatedAmortization |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 5.5 | monetaryItemType | text: <entity> 5.5 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostAccumulatedAmortization |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostAmortization |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostAmortization |
The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $ 0 and $ 0.2 million at December 31, 2024 and 2023, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $ 5.7 million and $ 5.5 million at December 31, 2024 and 2023, respectively. The total amortization expense related to such capitalized implementation costs was $ 0.2 million, $ 0.9 million, $ 2.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in other operating expenses in the Company's consolidated statements of operations. </context> | us-gaap:CapitalizedContractCostAmortization |
In September 2024, the Company completed the sale of an office building located in Brea, California for a total sale price of $ 31.5 million. $ 21.4 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 %. The term of the note receivable is four years and interest is paid in quarterly installments. | text | 31.5 | monetaryItemType | text: <entity> 31.5 </entity> <entity type> monetaryItemType </entity type> <context> In September 2024, the Company completed the sale of an office building located in Brea, California for a total sale price of $ 31.5 million. $ 21.4 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 %. The term of the note receivable is four years and interest is paid in quarterly installments. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
In September 2024, the Company completed the sale of an office building located in Brea, California for a total sale price of $ 31.5 million. $ 21.4 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 %. The term of the note receivable is four years and interest is paid in quarterly installments. | text | 7.0 | percentItemType | text: <entity> 7.0 </entity> <entity type> percentItemType </entity type> <context> In September 2024, the Company completed the sale of an office building located in Brea, California for a total sale price of $ 31.5 million. $ 21.4 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 %. The term of the note receivable is four years and interest is paid in quarterly installments. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In March 2023, the Company completed the sale of an office building located in Clearwater, Florida, for a total sale price of approximately $ 19.6 million. $ 9.8 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 % for the first two years, with an adjustment | text | 19.6 | monetaryItemType | text: <entity> 19.6 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, the Company completed the sale of an office building located in Clearwater, Florida, for a total sale price of approximately $ 19.6 million. $ 9.8 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 % for the first two years, with an adjustment </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
In March 2023, the Company completed the sale of an office building located in Clearwater, Florida, for a total sale price of approximately $ 19.6 million. $ 9.8 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 % for the first two years, with an adjustment | text | 7.0 | percentItemType | text: <entity> 7.0 </entity> <entity type> percentItemType </entity type> <context> In March 2023, the Company completed the sale of an office building located in Clearwater, Florida, for a total sale price of approximately $ 19.6 million. $ 9.8 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0 % for the first two years, with an adjustment </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
to the greater of 7.0 % or the rate on a one-year U.S. Treasury Bill at the two-year anniversary for the remainder of the term. The term of the note receivable is four years and interest is paid in monthly installments. | text | 7.0 | percentItemType | text: <entity> 7.0 </entity> <entity type> percentItemType </entity type> <context> to the greater of 7.0 % or the rate on a one-year U.S. Treasury Bill at the two-year anniversary for the remainder of the term. The term of the note receivable is four years and interest is paid in monthly installments. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
: Comprised of securities that are collateralized by residential and commercial mortgage loans and valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $ 16.0 million and $ 33.0 million in commercial mortgage-backed securities at December 31, 2024 and 2023, respectively. | text | 16.0 | monetaryItemType | text: <entity> 16.0 </entity> <entity type> monetaryItemType </entity type> <context> : Comprised of securities that are collateralized by residential and commercial mortgage loans and valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $ 16.0 million and $ 33.0 million in commercial mortgage-backed securities at December 31, 2024 and 2023, respectively. </context> | us-gaap:TradingSecurities |
: Comprised of securities that are collateralized by residential and commercial mortgage loans and valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $ 16.0 million and $ 33.0 million in commercial mortgage-backed securities at December 31, 2024 and 2023, respectively. | text | 33.0 | monetaryItemType | text: <entity> 33.0 </entity> <entity type> monetaryItemType </entity type> <context> : Comprised of securities that are collateralized by residential and commercial mortgage loans and valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $ 16.0 million and $ 33.0 million in commercial mortgage-backed securities at December 31, 2024 and 2023, respectively. </context> | us-gaap:TradingSecurities |
third party administrators. The NAV of the Company's limited partnership or limited liability company interest in such a fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting guidance, private equity funds measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. At December 31, 2024, the Company had capital invested in four such funds: the strategy of three such funds with a combined fair value of approximately $ 90.7 million at December 31, 2024 is to provide current income to investors by investing mainly in secured loans, CLOs or CLO issuers, and equity interests in vehicles established to purchase and warehouse loans; and the strategy of the other such fund with a fair value of approximately $ 4.5 million at December 31, 2024 is to achieve long-term capital appreciation through privately-negotiated venture capital investments in seed- and early-stage portfolio companies with technology-enabled business models. The Company had approximately $ 5 million in unfunded commitments at December 31, 2024 with respect to the private equity funds measured at NAV. The underlying assets of the funds are expected to be liquidated over the period of approximately one year to eight years from December 31, 2024. In addition, the Company does not have the ability to redeem or withdraw from the funds, or to sell, assign, pledge or transfer its investment, without the consent from the General Partner or Managers of each fund, but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> third party administrators. The NAV of the Company's limited partnership or limited liability company interest in such a fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting guidance, private equity funds measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. At December 31, 2024, the Company had capital invested in four such funds: the strategy of three such funds with a combined fair value of approximately $ 90.7 million at December 31, 2024 is to provide current income to investors by investing mainly in secured loans, CLOs or CLO issuers, and equity interests in vehicles established to purchase and warehouse loans; and the strategy of the other such fund with a fair value of approximately $ 4.5 million at December 31, 2024 is to achieve long-term capital appreciation through privately-negotiated venture capital investments in seed- and early-stage portfolio companies with technology-enabled business models. The Company had approximately $ 5 million in unfunded commitments at December 31, 2024 with respect to the private equity funds measured at NAV. The underlying assets of the funds are expected to be liquidated over the period of approximately one year to eight years from December 31, 2024. In addition, the Company does not have the ability to redeem or withdraw from the funds, or to sell, assign, pledge or transfer its investment, without the consent from the General Partner or Managers of each fund, but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. </context> | us-gaap:FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments |
Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. | text | 37.4 | monetaryItemType | text: <entity> 37.4 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. | text | 33.8 | monetaryItemType | text: <entity> 33.8 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. | text | 34.3 | monetaryItemType | text: <entity> 34.3 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense, including amortization of leasehold improvements, was $ 37.4 million, $ 33.8 million, and $ 34.3 million for 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
An office building located in Oklahoma City, Oklahoma was classified as a property held for sale at April 30, 2024, and a loss of $ 1.0 million was recognized as a result of the held-for-sale classification. The Company completed the sale of this property in September 2024 for a total sale price of $ 3.6 million, and recognized an additional loss of $ 0.1 million at closing of the sale. Losses recognized at the held-for-sale classification and closing of the sale are included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> An office building located in Oklahoma City, Oklahoma was classified as a property held for sale at April 30, 2024, and a loss of $ 1.0 million was recognized as a result of the held-for-sale classification. The Company completed the sale of this property in September 2024 for a total sale price of $ 3.6 million, and recognized an additional loss of $ 0.1 million at closing of the sale. Losses recognized at the held-for-sale classification and closing of the sale are included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
An office building located in Oklahoma City, Oklahoma was classified as a property held for sale at April 30, 2024, and a loss of $ 1.0 million was recognized as a result of the held-for-sale classification. The Company completed the sale of this property in September 2024 for a total sale price of $ 3.6 million, and recognized an additional loss of $ 0.1 million at closing of the sale. Losses recognized at the held-for-sale classification and closing of the sale are included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> An office building located in Oklahoma City, Oklahoma was classified as a property held for sale at April 30, 2024, and a loss of $ 1.0 million was recognized as a result of the held-for-sale classification. The Company completed the sale of this property in September 2024 for a total sale price of $ 3.6 million, and recognized an additional loss of $ 0.1 million at closing of the sale. Losses recognized at the held-for-sale classification and closing of the sale are included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. </context> | us-gaap:GainLossOnSaleOfPropertyPlantEquipment |
The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. | text | 31.5 | monetaryItemType | text: <entity> 31.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. | text | 20.3 | monetaryItemType | text: <entity> 20.3 </entity> <entity type> monetaryItemType </entity type> <context> The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. </context> | us-gaap:GainLossOnSaleOfPropertyPlantEquipment |
The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. | text | 9.3 | monetaryItemType | text: <entity> 9.3 </entity> <entity type> monetaryItemType </entity type> <context> The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. </context> | us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment |
The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. | text | 7.0 | percentItemType | text: <entity> 7.0 </entity> <entity type> percentItemType </entity type> <context> The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $ 31.5 million, and recognized a gain of $ 20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $ 21.4 million of the total sale price was received in the form of a promissory note. $ 9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0 %. The term of the note receivable is 4 years and interest is paid in quarterly installments. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
An office building located in Folsom, California was classified as a property held for sale at June 30, 2024, and $ 10.0 million of the property held for sale is included in other assets in the Company's consolidated balance sheets at | text | 10.0 | monetaryItemType | text: <entity> 10.0 </entity> <entity type> monetaryItemType </entity type> <context> An office building located in Folsom, California was classified as a property held for sale at June 30, 2024, and $ 10.0 million of the property held for sale is included in other assets in the Company's consolidated balance sheets at </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment |
As of December 31, 2024, the Company had additional lease commitments that have not yet commenced of approximately $ 4 million with each lease term of approximately one to four years . These leases will commence in 2025. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the Company had additional lease commitments that have not yet commenced of approximately $ 4 million with each lease term of approximately one to four years . These leases will commence in 2025. </context> | us-gaap:UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount |
On March 8, 2017, the Company completed a public debt offering issuing $ 375 million of senior notes. The notes are unsecured senior obligations of the Company, with a 4.4 % annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $ 3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847 % of par, resulting in the effective annualized interest rate, including debt issuance costs, of approximately 4.45 %. | text | 375 | monetaryItemType | text: <entity> 375 </entity> <entity type> monetaryItemType </entity type> <context> On March 8, 2017, the Company completed a public debt offering issuing $ 375 million of senior notes. The notes are unsecured senior obligations of the Company, with a 4.4 % annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $ 3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847 % of par, resulting in the effective annualized interest rate, including debt issuance costs, of approximately 4.45 %. </context> | us-gaap:UnsecuredDebt |
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