Our investments and other assets consisted of the following as of September 30, 2025 and December 31, 2024 (in thousands):


	Sept. 30, 2025		Dec. 31, 2024

Cash value life insurance	$	52,794	$	51,860
Equity method investments		16,018		16,280
Other equity investments		27,980		29,020
Debt investment		7,500		7,500
Deferred compensation assets		5,879		6,212
Deferred financing costs		5,009		6,137
Prepaid assets		2,857		5,960
Other long-term assets		8,171		9,568
Total	$	126,208	$	132,537

Cash value life insurance: We are the beneficiary of life insurance policies on the lives of certain employees/retirees, which are recorded at their cash surrender value as determined by the insurance carrier. These policies are utilized as a partial funding source for deferred compensation and other non-qualified employee retirement plans. Gains and losses on these investments are included in “Other non-operating items, net” within our Consolidated Statements of Income and were not material for all periods presented.

Equity method investments: These are investments in entities in which we have significant influence, but do not have a controlling financial interest. Our share of net earnings and losses from these ventures is included in “Other non-operating items, net” in the Consolidated Statements of Income.

Other equity investments: Represents investments in non-public businesses that do not have readily determinable pricing, and for which we do not have control and do not exert significant influence. These investments are either recorded at cost less impairments, if any, plus or minus changes in observable prices for those investments or fair value using the net asset value per share practical expedient. In the third quarter of 2025, we recognized a $2.1 million impairment charge related to one of these investments.

Deferred compensation assets: Consist primarily of investments held in a trust established to fund obligations under TEGNA’s nonqualified deferred compensation plan.

Deferred financing costs: These costs consist of amounts paid to lenders related to our revolving credit facility. Financing costs paid for our unsecured notes are accounted for as a reduction in the debt obligation.

Prepaid assets: These amounts primarily consist of an asset related to a long-term services agreement for IT security.