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10-Q Fair value measurements (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
The Company’s assets measured at fair value on a recurring basis were as follows:
Fair Value Measurements at December 31, 2022, Using
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Balance at
December 31, 2022
(In thousands)
Assets:
Money market funds
$— $2,448 $— $2,448 
Insurance contracts*
— 20,083 — 20,083 
Total assets measured at fair value
$— $22,531 $— $22,531 
__________________
*The insurance contracts invest approximately 63 percent in fixed-income investments, 15 percent in common stock of large-cap companies, 8 percent in common stock of mid-cap companies, 6 percent in common stock of small-cap companies, 6 percent in target date investments and 2 percent in cash equivalents.
Fair Value Measurements at December 31, 2021, Using
Quoted Prices in
Active Markets for
Identical Assets
 (Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Balance at
December 31, 2021
(In thousands)
Assets:
Money market funds
$— $3,044 $— $3,044 
Insurance contracts*
— 21,629 — 21,629 
Total assets measured at fair value
$— $24,673 $— $24,673 
__________________
*The insurance contracts invest approximately 61 percent in fixed-income investments, 17 percent in common stock of large-cap companies, 8 percent in common stock of mid-cap companies, 7 percent in common stock of small-cap companies, 5 percent in target date investments and 2 percent in cash equivalents.
The Company's assets measured at fair value on a recurring basis were as follows:
Fair Value Measurements at June 30, 2023, Using
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Balance at June 30, 2023
(In thousands)
Assets:
Money market funds$— $7,529 $— $7,529 
Insurance contracts*— 19,141 — 19,141 
Total assets measured at fair value$— $26,670 $— $26,670 
__________________
*The insurance contracts invest approximately 47 percent in fixed-income investments, 20 percent in cash equivalents, 15 percent in common stock of large-cap companies, 8 percent in common stock of mid-cap companies, 6 percent in common stock of small-cap companies and 4 percent in target date investments.
Fair Value Measurements at December 31, 2022, Using
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at December 31, 2022
(In thousands)
Assets:
Money market funds$— $2,448 $— $2,448 
Insurance contracts*— 20,083 — 20,083 
Total assets measured at fair value$— $22,531 $— $22,531 
__________________
*The insurance contracts invest approximately 63 percent in fixed-income investments, 15 percent in common stock of large-cap companies, 8 percent in common stock of mid-cap companies, 6 percent in common stock of small-cap companies, 6 percent in target date investments and 2 percent in cash equivalents.
Fair Value, by Balance Sheet Grouping
The Company's long-term debt is not measured at fair value on the Consolidated Balance Sheets and the fair value is being provided for disclosure purposes only. The fair value was categorized as Level 2 in the fair value hierarchy and was based on discounted cash flows using current market interest rates. The estimated fair value of the Company's Level 2 long-term debt was as follows:
June 30, 2023
(In thousands)
Carrying amount$855,000 
Fair value$862,420