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FAIR VALUE MEASUREMENT
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT
3. FAIR VALUE MEASUREMENT

The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs (in thousands): 
 
Fair Value Measurements at June 30, 2024
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market funds$146,760 $146,760 $— $— 
Equity securities, at fair value32,328 — — 32,328 
Available-for-sale debt securities (1)10,733 — — 10,733 
Trading securities held in a "rabbi trust" (1)1 1 — — 
Total assets$189,822 $146,761 $— $43,061 
Liabilities:    
Deferred compensation accrual "rabbi trust" (2)$535 $535 $— $— 
Total liabilities$535 $535 $— $— 
 
 
Fair Value Measurements at December 31, 2023
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market funds$246,425 $246,425 $— $— 
Equity securities, at fair value41,046 — — 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 $— $— 
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(1)    Included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets.
(2)    Included in Accrued liabilities in the consolidated balance sheets.

The following table provides activity for our Level 3 investments (in thousands):
Amount
Level 3 investments at December 31, 2022
$82,787 
Increase due to purchases of Level 3 investments10,000 
Decrease in fair value of Level 3 investments(41,741)
Accrued interest on Level 3 investments484 
Level 3 investments at December 31, 2023
51,530 
Decrease in fair value of Level 3 investments(8,718)
Accrued interest on Level 3 investments249 
Level 3 investments at June 30, 2024
$43,061