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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the Company’s financial instruments that are measured at fair value on a recurring basis:
December 31,
(In thousands)
Fair Value Hierarchy
20202019
Financial Assets:
Money market mutual funds1
1$335,449 $223,217 
Investment securities
Municipal bonds2$197 $302 
Asset-backed securities2210 247 
Mortgage-backed securities2138 174 
Pooled investment fund measured at net asset value2
9,000 5,000 
Fixed-income mutual fund127,728 24,737 
Total investment securities$37,273 $30,460 
Executive deferred compensation plan trust3
1$9,586 $7,965 
Interest rate swaps4
2$— $2,395 
Liabilities:
Interest rate swaps5
2$44,938 $19,764 
1 The fair value is recorded in cash and cash equivalents.
2 The fair value of this security is measured at NAV as a practical expedient and has not been classified within the fair value hierarchy. The amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
3 The fair value is recorded as current or long-term based on the timing of the Company's executive deferred compensation plan payment obligations. At December 31, 2020, $0.9 million and $8.7 million in fair value is recorded within prepaid expenses and other current assets and other assets, respectively. At December 31, 2019, $0.9 million and $7.0 million in fair value is recorded within prepaid expenses and other current assets and other assets, respectively.
4 The fair value is recorded as current or long-term depending on the timing of expected discounted cash flows. At December 31, 2019, $2.4 million of fair value is recorded within prepaid expenses and other current assets.
5 The fair value is recorded as current or long-term depending on the timing of expected discounted cash flows. At December 31, 2020, $22.0 million and $22.9 million of fair value is recorded within other current liabilities and other liabilities, respectively. At December 31, 2019, $6.7 million and $13.1 million of fair value is recorded within other current liabilities and other liabilities, respectively.
Pooled Investment Fund
Pooled Investment Fund
(In thousands)Fair ValueUnfunded CommitmentsRedemption FrequencyRedemption Notice Period
Pooled investment fund, as of December 31, 2020$9,000 — Monthly30 days