Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 88

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 88
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42023Cash and cash equivalents:Cash$20,664 $18,040 Commercial paper10,058 32,837 U.S. government securities7,550 9,969 Money market funds4,890 2,563 Total cash and cash equivalents43,162 63,409 Marketable securities:Corporate debt securities123,701 7,000 U.S. government securities66,582 92,277 U.S. government agency securities24,411 43,521 Commercial paper22,715 14,139 Certificates of deposit16,520 — Total marketable securities253,929 156,937 $297,091 $220,346 The carrying amounts of the Company’s money market funds approximate their fair values due to their nature, duration and short maturities. As of December 31, 2024, all marketable securities were due in three years or less.The amortized cost and fair value of marketable securities as of December 31, 2024 were as follows (in thousands):Amortized CostGross Unrealized Gains, netFair ValueCorporate debt securities$123,519 $182 $123,701 U.S. government securities74,118 14 74,132 U.S. government agency securities24,380 31 24,411 Certificates of deposit16,505 15 16,520 Commercial paper32,766 7 32,773 $271,288 $249 $271,537 The amortized cost and fair value of marketable securities as of December 31, 2023 were as follows (in thousands):Amortized CostGross Unrealized Gains (Losses), netFair ValueU.S. government securities$102,167 $80 $102,247 Commercial paper47,003 (28)46,975 U.S. government agency securities43,573 (52)43,521 Corporate debt securities6,999 1 7,000 $199,742 $1 $199,743 

3.  Fair Value Measurements

The Company measures its cash equivalents and marketable securities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based