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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Contractual Maturities of Debt Securities | The following table summarizes the contractual maturities of debt securities held at September 30, 2024 and December 31, 2023, which are classified as “Marketable securities, at fair value” and “Restricted marketable securities, at fair value” in the Consolidated Balance Sheets:
|  | Debt Securities — Available-for-Sale
Contractual maturity: |  | September 30, 2024 |  | December 31, 2023
|  | (in thousands)
Marketable securities, at fair value |  |  |  |
Maturing in one year or less |  | $ | 864 |  |  | $ | 6,324 |
Maturing in second year through fifth year |  | 25,924 |  |  | 34,939 |
Maturing in sixth year through tenth year |  | 27,836 |  |  | 39,309 |
Maturing after ten years |  | 22,152 |  |  | 12,559 |
Total marketable securities, at fair value |  | $ | 76,776 |  |  | $ | 93,131 |
Restricted marketable securities, at fair value |  |  |  |
Maturing in one year or less |  | $ | 2,610 |  |  | $ | — |
Maturing in second year through fifth year |  | 5,751 |  |  | — |
Maturing in sixth year through tenth year |  | 15,661 |  |  | — |
Maturing after ten years |  | 1,063 |  |  | — |
Total restricted marketable securities, at fair value |  | $ | 25,085 |  |  | $ | — |
Total debt securities — available-for-sale |  | $ | 101,861 |  |  | $ | 93,131 |
Schedule of Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Debt Securities | The following table shows the amortized cost, unrealized gains and losses, and estimated fair value of the Company’s debt securities as of September 30, 2024 and December 31, 2023:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Credit Impairment Losses 1
September 30, 2024 | (in thousands)
Type of security: |  |  |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — taxable | $ | 11,690 |  |  | $ | 97 |  |  | $ | (507) |  |  | $ | 11,280 |  |  | $ | — |
Municipal bonds — non-taxable | 66,478 |  |  | 664 |  |  | (1,646) |  |  | 65,496 |  |  | — |
Total marketable securities | $ | 78,168 |  |  | $ | 761 |  |  | $ | (2,153) |  |  | $ | 76,776 |  |  | $ | — |
Restricted marketable securities |  |  |  |  |  |  |  |  |
U.S. treasury bonds | $ | 6,921 |  |  | $ | 148 |  |  | $ | — |  |  | $ | 7,069 |  |  | $ | — |
U.S. government agency bonds | 1,223 |  |  | 20 |  |  | — |  |  | 1,243 |  |  | — |
International fixed income bonds | 643 |  |  | 11 |  |  | — |  |  | 654 |  |  | — |
Corporate bonds | 6,451 |  |  | 211 |  |  | — |  |  | 6,662 |  |  | — |
Municipal bonds — taxable | 9,119 |  |  | 338 |  |  | — |  |  | 9,457 |  |  | — |
Total restricted marketable securities | $ | 24,357 |  |  | $ | 728 |  |  | $ | — |  |  | $ | 25,085 |  |  | $ | — |
Total debt securities — available-for-sale | $ | 102,525 |  |  | $ | 1,489 |  |  | $ | (2,153) |  |  | $ | 101,861 |  |  | $ | — |
December 31, 2023 |  |  |  |  |  |  |  |  |
Type of security: |  |  |  |  |  |  |  |  |
Municipal bonds — non-taxable | $ | 95,466 |  |  | $ | 387 |  |  | $ | (2,722) |  |  | $ | 93,131 |  |  | $ | — |
Total debt securities — available-for-sale | $ | 95,466 |  |  | $ | 387 |  |  | $ | (2,722) |  |  | $ | 93,131 |  |  | $ | — |
1.The Company performs a credit impairment loss assessment quarterly on an individual security basis. As of September 30, 2024 and December 31, 2023, no allowance for credit loss has been recognized as the issuers of these securities have not established a cause for default and various rating agencies have reaffirmed each security’s investment grade status. The fair value of these securities have fluctuated since the purchase date as market interest rates fluctuate. The Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell before the recovery of the securities’ amortized cost basis.
Schedule of Fair Value Measurements Information for Marketable Securities and Deferred Compensation Fund Investments | The following tables provide fair value measurement information for the Company’s financial assets, including marketable securities, restricted marketable securities and deferred compensation fund investments as of September 30, 2024 and December 31, 2023:
| As of September 30, 2024
|  |  |  |  | Fair Value Measurement Using:
(amounts in thousands) | Carrying Amount |  | Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — taxable | $ | 11,280 |  |  | $ | 11,280 |  |  | $ | — |  |  | $ | 11,280 |  |  | $ | — |
Municipal bonds — non-taxable | 65,496 |  |  | 65,496 |  |  | — |  |  | 65,496 |  |  | — |
Total marketable securities | $ | 76,776 |  |  | $ | 76,776 |  |  | $ | — |  |  | $ | 76,776 |  |  | $ | — |
Restricted marketable securities |  |  |  |  |  |  |  |  |
U.S. treasury bonds | $ | 7,069 |  |  | $ | 7,069 |  |  | $ | — |  |  | $ | 7,069 |  |  | $ | — |
U.S. government agency bonds | 1,243 |  |  | 1,243 |  |  | — |  |  | 1,243 |  |  | — |
International fixed income bonds | 654 |  |  | 654 |  |  | — |  |  | 654 |  |  | — |
Corporate bonds | 6,662 |  |  | 6,662 |  |  | — |  |  | 6,662 |  |  | — |
Municipal bonds — taxable | 9,457 |  |  | 9,457 |  |  | — |  |  | 9,457 |  |  | — |
Total restricted marketable securities | $ | 25,085 |  |  | $ | 25,085 |  |  | $ | — |  |  | $ | 25,085 |  |  | $ | — |
Deferred compensation fund |  |  |  |  |  |  |  |  |
Money market 1 | $ | 1,981 |  |  | $ | 1,981 |  |  | $ | — |  |  | $ | 1,981 |  |  | $ | — |
Commodities | 335 |  |  | 335 |  |  | 335 |  |  | — |  |  | — |
Fixed income | 4,564 |  |  | 4,564 |  |  | 4,564 |  |  | — |  |  | — |
International | 5,172 |  |  | 5,172 |  |  | 5,172 |  |  | — |  |  | — |
Large cap blend | 6,300 |  |  | 6,300 |  |  | 6,300 |  |  | — |  |  | — |
Large cap growth | 17,568 |  |  | 17,568 |  |  | 17,568 |  |  | — |  |  | — |
Large cap value | 7,215 |  |  | 7,215 |  |  | 7,215 |  |  | — |  |  | — |
Mid cap blend | 3,812 |  |  | 3,812 |  |  | 3,812 |  |  | — |  |  | — |
Real estate | 409 |  |  | 409 |  |  | 409 |  |  | — |  |  | — |
Small cap blend | 2,952 |  |  | 2,952 |  |  | 2,952 |  |  | — |  |  | — |
Total deferred compensation fund 2 | $ | 50,308 |  |  | $ | 50,308 |  |  | $ | 48,327 |  |  | $ | 1,981 |  |  | $ | — |
| As of December 31, 2023
|  |  |  |  | Fair Value Measurement Using:
(amounts in thousands) | Carrying Amount |  | Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — non-taxable | $ | 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 |  |  | $ | — |
1.The fair value of the money market fund is based on the NAV of the shares held by the plan 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.As of September 30, 2024 and December 31, 2023, $1.7 million and $1.5 million of short-term deferred compensation funding is included within “Prepaid expenses and other assets” in the Company’s Consolidated Balance Sheets, respectively. Such amounts of short-term deferred compensation funding represent investments expected to be liquidated and paid within 12 months of September 30, 2024 and December 31, 2023, respectively.

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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