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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Contractual Maturities of Debt Securities | The following table summarizes the contractual maturities of debt securities held as of December 31, 2024 and 2023 which are classified within “Marketable securities, at fair value” and “Restricted marketable securities, at fair value” in the Consolidated Balance Sheets:
|  | Debt Securities — Available-for-Sale
Contractual maturity: |  | December 31, 2024 |  | December 31, 2023
|  | (in thousands)
Marketable securities, at fair value |  |  |  |
Maturing in one year or less |  | $ | 653 |  |  | $ | 6,324 |
Maturing in second year through fifth year |  | 23,341 |  |  | 34,939 |
Maturing in sixth year through tenth year |  | 13,113 |  |  | 39,309 |
Maturing after ten years |  | 13,428 |  |  | 12,559 |
Total marketable securities, at fair value |  | $ | 50,535 |  |  | $ | 93,131 |
Restricted marketable securities, at fair value |  |  |  |
Maturing in one year or less |  | $ | 2,474 |  |  | $ | — |
Maturing in second year through fifth year |  | 15,774 |  |  | — |
Maturing in sixth year through tenth year |  | 5,837 |  |  | — |
Maturing after ten years |  | 1,020 |  |  | — |
Total restricted marketable securities, at fair value |  | $ | 25,105 |  |  | $ | — |
Total debt securities — available-for-sale |  | $ | 75,640 |  |  | $ | 93,131 |
Schedule of Fair Value Measurements | 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 December 31, 2024 and 2023:
| As of December 31, 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 | $ | 9,600 |  |  | $ | 9,600 |  |  | $ | — |  |  | $ | 9,600 |  |  | $ | — |
Municipal bonds — non-taxable | 40,935 |  |  | 40,935 |  |  | — |  |  | 40,935 |  |  | — |
Total marketable securities | $ | 50,535 |  |  | $ | 50,535 |  |  | $ | — |  |  | $ | 50,535 |  |  | $ | — |
Restricted marketable securities |  |  |  |  |  |  |  |  |
U.S. treasury bonds | $ | 7,309 |  |  | $ | 7,309 |  |  | $ | — |  |  | $ | 7,309 |  |  | $ | — |
U.S. government agency bonds | 1,218 |  |  | 1,218 |  |  | — |  |  | 1,218 |  |  | — |
International fixed income bonds | 652 |  |  | 652 |  |  | — |  |  | 652 |  |  | — |
Corporate bonds | 6,796 |  |  | 6,796 |  |  | — |  |  | 6,796 |  |  | — |
Municipal bonds — taxable | 9,130 |  |  | 9,130 |  |  | — |  |  | 9,130 |  |  | — |
Total restricted marketable securities | $ | 25,105 |  |  | $ | 25,105 |  |  | $ | — |  |  | $ | 25,105 |  |  | $ | — |
Deferred compensation plan |  |  |  |  |  |  |  |  |
Money market 1 | $ | 1,961 |  |  | $ | 1,961 |  |  | $ | — |  |  | $ | 1,961 |  |  | $ | — |
Commodities | 295 |  |  | 295 |  |  | 295 |  |  | — |  |  | — |
Fixed income | 4,417 |  |  | 4,417 |  |  | 4,417 |  |  | — |  |  | — |
International | 4,999 |  |  | 4,999 |  |  | 4,999 |  |  | — |  |  | — |
Large cap blend | 6,669 |  |  | 6,669 |  |  | 6,669 |  |  | — |  |  | — |
Large cap growth | 18,524 |  |  | 18,524 |  |  | 18,524 |  |  | — |  |  | — |
Large cap value | 6,964 |  |  | 6,964 |  |  | 6,964 |  |  | — |  |  | — |
Mid cap blend | 3,957 |  |  | 3,957 |  |  | 3,957 |  |  | — |  |  | — |
Real estate | 372 |  |  | 372 |  |  | 372 |  |  | — |  |  | — |
Small cap blend | 2,980 |  |  | 2,980 |  |  | 2,980 |  |  | — |  |  | — |
Deferred compensation plan 2 | $ | 51,138 |  |  | $ | 51,138 |  |  | $ | 49,177 |  |  | $ | 1,961 |  |  | $ | — |
| 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 plan |  |  |  |  |  |  |  |  |
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 plan 2 | $ | 42,313 |  |  | $ | 42,313 |  |  | $ | 40,306 |  |  | $ | 2,007 |  |  | $ | — |
1.The fair value of the money market 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.The deferred compensation plan carrying amounts and total fair value amounts as of December 31, 2024 and 2023 are inclusive of $1.5 million each of holdings expected to be paid to former employees within the next twelve months which were recorded under Prepaid expenses and other assets in the Company’s Consolidated Balance Sheets. The following table shows the amortized cost, unrealized gains and losses, and estimated fair value of the Company’s debt securities as of December 31, 2024 and 2023:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Credit Impairment Losses 1
December 31, 2024 | (in thousands)
Type of security: |  |  |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |  |  |
Municipal bonds — taxable | $ | 10,276 |  |  | $ | — |  |  | $ | (676) |  |  | $ | 9,600 |  |  | $ | — |
Municipal bonds — non-taxable | 43,255 |  |  | — |  |  | (2,320) |  |  | 40,935 |  |  | — |
Total marketable securities | $ | 53,531 |  |  | $ | — |  |  | $ | (2,996) |  |  | $ | 50,535 |  |  | $ | — |
Restricted marketable securities |  |  |  |  |  |  |  |  |
U.S. treasury bonds | $ | 7,276 |  |  | $ | 38 |  |  | $ | (5) |  |  | $ | 7,309 |  |  |
U.S. government agency bonds | 1,208 |  |  | 10 |  |  | — |  |  | 1,218 |  |  |
International fixed income bonds | 647 |  |  | 5 |  |  | — |  |  | 652 |  |  |
Corporate bonds | 6,780 |  |  | 30 |  |  | (14) |  |  | 6,796 |  |  |
Municipal bonds — taxable | 9,131 |  |  | 40 |  |  | (41) |  |  | 9,130 |  |  |
Total restricted marketable securities | $ | 25,042 |  |  | $ | 123 |  |  | $ | (60) |  |  | $ | 25,105 |  |  | $ | — |
Total debt securities — available-for-sale | $ | 78,573 |  |  | $ | 123 |  |  | $ | (3,056) |  |  | $ | 75,640 |  |  | $ | — |
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 |  |  | $ | — |

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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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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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