Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Fair Value Assets Measured on Recurring Basis

The fair value information related to these assets is summarized in the following tables:

			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2018		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds⁽¹⁾	$	121	$	121	$	—	$	—
Other mutual funds⁽²⁾		2,517		2,517		—		—
Total assets at fair value on a recurring basis	$	2,638	$	2,638	$	—	$	—

			Fair Value Measurements at Reporting Date Using
(in thousands)	December 31, 2017		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds⁽¹⁾	$	119	$	119	$	—	$	—
Other mutual funds⁽²⁾		2,637		2,637		—		—
Total assets at fair value on a recurring basis	$	2,756	$	2,756	$	—	$	—

⁽¹⁾

Money market funds are included in “Cash and cash equivalents” in the Consolidated Balance Sheets. These investments are classified as available-for-sale and are recorded at fair value. There have been no realized gains or losses related to these investments and we have not experienced any redemption restrictions with respect to any of the money market mutual funds.

⁽²⁾

Other mutual funds are included in “Other investments and assets” in the Consolidated Balance Sheets. Upon the adoption of ASU 2016-01, unrealized gains (losses) on equity securities that were previously classified as available-for-sale are recognized in net income rather than AOCI. We adopted this guidance prospectively on January 1, 2018 and recognized a cumulative-effect adjustment of $0.6 million to beginning retained earnings, which represents unrealized gains of $1.0 million ($0.6 million after tax) as of December 31, 2017 that were included in AOCI in the Consolidated Balance Sheets. Refer to Note 16 – Accumulated Other Comprehensive Income (Loss) for additional information.