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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value On a Recurring Basis

Financial instruments measured at fair value on a recurring basis:

			September 30, 2020																		December 31, 2019
(in thousands)			Total						Level 1						Level 2						Total						Level 1						Level 2
Cash equivalents
Money market funds			$	80,121					$	80,121					$	—					$	42,653					$	42,653					$	—
Commercial paper			22,783						—						22,783						5,807						—						5,807
Municipal debt securities			10,205						—						10,205						1,202						—						1,202
Federal agency debt securities			1,340						—						1,340						—						—						—
Total cash equivalents			114,449						80,121						34,328						49,662						42,653						7,009
Short-term
Commercial paper			212,992						—						212,992						161,286						—						161,286
Corporate debt securities			139,659						—						139,659						145,975						—						145,975
Municipal debt securities			52,437						—						52,437						12,237						—						12,237
Federal agency debt securities			35,389						—						35,389						13,515						—						13,515
US Treasury bonds			1,287						—						1,287						2,915						—						2,915
Total short-term			441,764						—						441,764						335,928						—						335,928
Long-term
Corporate debt securities			—						—						—						15,396						—						15,396
US Treasury bonds			—						—						—						146						—						146
Total long-term			—						—						—						15,542						—						15,542
Total financial instruments			$	556,213					$	80,121					$	476,092					$	401,132					$	42,653					$	358,479

Fair Value, Liabilities Measured on Recurring Basis

Carrying value and estimated fair value of long-term debt, including current maturities and without reduction for related costs, are as follows:

			September 30, 2020												December 31, 2019
(in thousands)			Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value						Hierarchy Level
Non-publicly held debt			$	1,461,705					$	1,349,111					$	1,329,882					$	1,140,232					3

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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No definition available.

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X

- Definition

Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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