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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value On a Recurring Basis

Financial instruments measured at fair value on a recurring basis:

			March 31, 2022																		December 31, 2021
(in thousands)			Total						Level 1						Level 2						Total						Level 1						Level 2
Cash equivalents
Money market funds			$	4,295					$	4,295					$	—					$	25,019					$	25,019					$	—
Commercial Paper			144,882						—						144,882						179,455						—						179,455
Municipal debt securities			48,066						—						48,066						63,875						—						63,875
Corporate debt securities			7,849						—						7,849						—						—						—
Total cash equivalents			205,092						4,295						200,797						268,349						25,019						243,330
Short-term
Commercial paper			377,695						—						377,695						419,469						—						419,469
Corporate debt securities			255,848						—						255,848						234,436						—						234,436
Municipal debt securities			173,561						—						173,561						165,573						—						165,573
Federal agency debt securities			1,845						—						1,845						—						—						—
Total short-term			808,949						—						808,949						819,478						—						819,478
Long-term
Municipal debt securities			—						—						—						2,231						—						2,231
Total long-term			—						—						—						2,231						—						2,231
Total financial instruments			$	1,014,041					$	4,295					$	1,009,746					$	1,090,058					$	25,019					$	1,065,039

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:

			March 31, 2022												December 31, 2021
(in thousands)			Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value						Hierarchy Level
Non-publicly held debt			$	1,413,414					$	1,198,418					$	1,447,462					$	1,261,170					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=123874694&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=123874694&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=123874694&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=123874694&loc=d3e19207-110258

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