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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair vale on a recurring basis
All assets measured at fair value are categorized in the table below based upon the lowest level of significant input to the valuations. All fair value measurements at the reporting date were on a recurring basis.
 
March 31, 2022 (In thousands)Quoted Prices
in Active 
Markets for
Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Recurring fair value measurements    
Financial Assets:    
U.S. Treasury securities$423,640 $— $— $423,640 
U.S. agency mortgage-backed securities— 854,775 — 854,775 
Municipal debt securities— 512,185 — 512,185 
Non-U.S. government securities— 71,743 — 71,743 
Corporate debt securities— 1,283,644 — 1,283,644 
Residential and commercial mortgage securities— 538,870 — 538,870 
Asset-backed securities— 594,451 — 594,451 
Money market funds383,597 — — 383,597 
Total assets at fair value (1) (2)$807,237 $3,855,668 $— $4,662,905 

December 31, 2021 (In thousands)Quoted Prices
in Active 
Markets for
Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Recurring fair value measurements    
Financial Assets:    
U.S. Treasury securities$448,793 $— $— $448,793 
U.S. agency securities— 5,504 — 5,504 
U.S. agency mortgage-backed securities— 1,008,863 — 1,008,863 
Municipal debt securities— 627,599 — 627,599 
Non-U.S. government securities— 79,743 — 79,743 
Corporate debt securities— 1,455,247 — 1,455,247 
Residential and commercial mortgage securities— 545,423 — 545,423 
Asset-backed securities— 581,703 — 581,703 
Money market funds210,012 — — 210,012 
Total assets at fair value (1) (2)$658,805 $4,304,082 $— $4,962,887 
(1)Does not include the fair value of embedded derivatives, which we have accounted for separately as freestanding derivatives and included in other assets or other accrued liabilities in our condensed consolidated balance sheet. See Note 4 for more information.
(2)Does not include certain other invested assets that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient, as applicable accounting standards do not provide for classification within the fair value hierarchy.