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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of fair value of financial instruments using levels of inputs

The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs as of December 31, 2023 and 2022, as indicated (in thousands): 

			Fair Value Measurements at December 31, 2023
			Total						Level 1						Level 2						Level 3
Assets:
Cash equivalents—Money market mutual funds			$	246,425					$	246,425					$	—					$	—
Equity securities, at fair value			41,046						—						—						41,046
Available-for-sale debt securities (1)			10,484						—						—						10,484
Trading securities held in a "rabbi trust" (1)			496						496						—						—
Total assets			$	298,451					$	246,921					$	—					$	51,530
Liabilities:
Deferred compensation accrual "rabbi trust" (2)			$	513					$	513					$	—					$	—
Total liabilities			$	513					$	513					$	—					$	—

			Fair Value Measurements at December 31, 2022
			Total						Level 1						Level 2						Level 3
Assets:
Cash equivalents—Money market mutual funds			$	252,650					$	252,650					$	—					$	—
Equity securities, at fair value			82,823						36						—						82,787
Trading securities held in a "rabbi trust" (1)			399						399						—						—
Total assets			$	335,872					$	253,085					$	—					$	82,787
Liabilities:
Deferred compensation accrual "rabbi trust" (2)			$	396					$	396					$	—					$	—
Total liabilities			$	396					$	396					$	—					$	—

 ___________________________________________

(1)    Included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets.

(2)    Included in Accrued liabilities and Other long-term liabilities in the consolidated balance sheets.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides activity for our Level 3 investments during the periods presented (in thousands):

			Amount
Level 3 investments at December 31, 2021			$	102,355
Increase due to acquisition of Level 3 investments			18,920
Decrease in fair value of Level 3 investments			(38,488)
Level 3 investments at December 31, 2022			82,787
Increase due to purchases of Level 3 investments			10,000
Decrease in fair value of Level 3 investments			(41,741)
Accrued interest on Level 3 investments			484
Level 3 investments at December 31, 2023			$	51,530

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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