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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Measurements  
Schedule of fair value hierarchy

The carrying values of our assets that are required to be measured at fair value on a recurring basis as of June 30, 2022 and 2021 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands):

    

Fair Value Measurements

    

Level 1

    

Level 2

    

Level 3

    

Total

June 30, 2022

 

  

 

  

 

  

 

  

Cash equivalents:

 

  

 

  

 

  

 

  

Money market mutual fund

$

8,273

$

$

$

8,273

Marketable equity securities:

 

 

  

 

  

 

Mutual funds

 

102,514

 

 

 

102,514

Available-for-sale debt securities:

 

 

  

 

  

 

U.S. Treasury notes

 

205,816

 

 

 

205,816

Corporate debt securities

205,254

205,254

$

521,857

$

$

$

521,857

Fair Value Measurements 

    

Level 1

    

Level 2

    

Level 3

    

Total

December 31, 2021

Cash equivalents:

 

  

 

  

 

  

 

  

Money market mutual fund

$

111,313

$

$

$

111,313

Marketable equity securities:

 

  

 

  

 

  

 

  

Mutual funds

 

110,006

 

 

 

110,006

Available-for-sale debt securities:

 

  

 

  

 

  

 

  

U.S. Treasury notes

223,896

223,896

Corporate debt securities

 

155,796

 

 

 

155,796

$

601,011

$

$

$

601,011

Schedule of estimated fair values and the carrying values

The following table presents the estimated fair values and the carrying values (in thousands):

    

June 30, 2022

December 31, 2021

    

Carrying Value

    

Fair Value

    

Carrying Value

    

Fair Value

2026 Senior Notes

$

391,399

$

274,781

$

390,523

$

331,783

2025 Senior Notes

$

14,037

$

11,961

$

13,648

$

13,628