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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements | The following tables provide fair value measurement information for the Company’s marketable securities and deferred compensation fund investments as of December 31, 2023 and December 31, 2022:
| As of December 31, 2023
|  |  |  |  | Fair Value Measurement Using:
| Carrying Amount |  | Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in thousands)
Financial Assets: |  |  |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — available-for-sale | $ | 93,131 |  |  | $ | 93,131 |  |  | $ | — |  |  | $ | 93,131 |  |  | $ | — |
Deferred compensation fund |  |  |  |  |  |  |  |  |
Money Market 1 | $ | 2,007 |  |  | $ | 2,007 |  |  | $ | — |  |  | $ | 2,007 |  |  | $ | — |
Commodities | 298 |  |  | 298 |  |  | 298 |  |  | — |  |  | — |
Fixed Income | 4,254 |  |  | 4,254 |  |  | 4,254 |  |  | — |  |  | — |
International | 4,621 |  |  | 4,621 |  |  | 4,621 |  |  | — |  |  | — |
Large Cap Blend | 5,053 |  |  | 5,053 |  |  | 5,053 |  |  | — |  |  | — |
Large Cap Growth | 13,886 |  |  | 13,886 |  |  | 13,886 |  |  | — |  |  | — |
Large Cap Value | 5,964 |  |  | 5,964 |  |  | 5,964 |  |  | — |  |  | — |
Mid Cap Blend | 3,192 |  |  | 3,192 |  |  | 3,192 |  |  | — |  |  | — |
Real Estate | 374 |  |  | 374 |  |  | 374 |  |  | — |  |  | — |
Small Cap Blend | 2,664 |  |  | 2,664 |  |  | 2,664 |  |  | — |  |  | — |
Deferred compensation fund 2 | $ | 42,313 |  |  | $ | 42,313 |  |  | $ | 40,306 |  |  | $ | 2,007 |  |  | $ | — |
| As of December 31, 2022
|  |  |  |  | Fair Value Measurement Using:
| Carrying Amount |  | Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in thousands)
Financial Assets: |  |  |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — available-for-sale | $ | 95,200 |  |  | $ | 95,200 |  |  | $ | — |  |  | $ | 95,200 |  |  | $ | — |
Deferred compensation fund |  |  |  |  |  |  |  |  |
Money Market 1 | $ | 2,420 |  |  | $ | 2,420 |  |  | $ | — |  |  | $ | 2,420 |  |  | $ | — |
Commodities | 170 |  |  | 170 |  |  | 170 |  |  | — |  |  | — |
Fixed Income | 3,571 |  |  | 3,571 |  |  | 3,571 |  |  | — |  |  | — |
International | 4,093 |  |  | 4,093 |  |  | 4,093 |  |  | — |  |  | — |
Large Cap Blend | 1,210 |  |  | 1,210 |  |  | 1,210 |  |  | — |  |  | — |
Large Cap Growth | 11,064 |  |  | 11,064 |  |  | 11,064 |  |  | — |  |  | — |
Large Cap Value | 6,133 |  |  | 6,133 |  |  | 6,133 |  |  | — |  |  | — |
Mid Cap Blend | 2,667 |  |  | 2,667 |  |  | 2,667 |  |  | — |  |  | — |
Real Estate | 359 |  |  | 359 |  |  | 359 |  |  | — |  |  | — |
Small Cap Blend | 3,424 |  |  | 3,424 |  |  | 3,424 |  |  | — |  |  | — |
Deferred compensation fund 2 | $ | 35,111 |  |  | $ | 35,111 |  |  | $ | 32,691 |  |  | $ | 2,420 |  |  | $ | — |
1.The fair value of the money market fund is based on the net asset value (“NAV”) of the shares held by the fund at the end of the period. The money market fund includes short-term United States dollar denominated money market instruments and the NAV is determined by the custodian of the fund. The money market fund can be redeemed at its NAV at the measurement date as there are no significant restrictions on the ability to sell this investment. 2.The deferred compensation fund carrying amounts and total fair value amounts as of December 31, 2023 and 2022 are inclusive of $1.5 million and $1.6 million of holdings expected to be paid to former employees within the next twelve months and were recorded under Prepaid expenses and other assets in the Company’s Consolidated Balance Sheets.
Schedule of Marketable Debt Securities |
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Impairments
| (in thousands)
December 31, 2023 |  |  |  |  |  |  |  |  |
Type of security: |  |  |  |  |  |  |  |  |
Municipal bonds — available-for-sale | $ | 95,466 |  |  | $ | 387 |  |  | $ | (2,722) |  |  | $ | 93,131 |  |  | $ | — |
Total debt securities | $ | 95,466 |  |  | $ | 387 |  |  | $ | (2,722) |  |  | $ | 93,131 |  |  | $ | — |
December 31, 2022 |  |  |  |  |  |  |  |  |
Type of security: |  |  |  |  |  |  |  |  |
Municipal bonds — available-for-sale | $ | 99,601 |  |  | $ | 229 |  |  | $ | (4,630) |  |  | $ | 95,200 |  |  | $ | — |
Total debt securities | $ | 99,601 |  |  | $ | 229 |  |  | $ | (4,630) |  |  | $ | 95,200 |  |  | $ | — |
Schedule of Contractual Maturities of Available for Sale Investments | The following table summarizes the contractual maturities of debt securities held at December 31, 2023 and December 31, 2022, which are classified as marketable securities in the Company’s Consolidated Balance Sheets:
|  | Municipal Bonds — Available-for-Sale
Contractual maturity: |  | December 31, 2023 |  | December 31, 2022
|  | (in thousands)
Maturing in one year or less |  | $ | 6,324 |  |  | $ | 2,798 |
Maturing in second year through fifth year |  | 34,939 |  |  | 35,068 |
Maturing in sixth year through tenth year |  | 39,309 |  |  | 38,575 |
Maturing after ten years |  | 12,559 |  |  | 18,759 |
Total debt securities |  | $ | 93,131 |  |  | $ | 95,200 |

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