Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments Debt And Equity Securities [Abstract]

Securities and Investments, Recorded at Either Fair Value or Cost

At September 30, 2017, we held the following securities and investments, recorded at either fair value or cost:

	Amortized		Gross Unrealized					Carrying
(In thousands)	Cost		Gains		Losses			Value
Deferred compensation plan assets	$	15,898	$	3,230	$	(15	)	$	19,113
Corporate bonds		45,223		75		(79	)		45,219
Municipal fixed-rate bonds		4,887		4		(17	)		4,874
Asset-backed bonds		7,791		5		(11	)		7,785
Mortgage/Agency-backed bonds		7,364		7		(41	)		7,330
U.S. government bonds		21,000		3		(109	)		20,894
Foreign government bonds		725		3	—				728
Marketable equity securities		32,394		2,649		(961	)		34,082
Available-for-sale securities held at fair value	$	135,282	$	5,976	$	(1,233	)	$	140,025
Restricted investment held at cost									27,800
Other investments held at cost									547
Total carrying value of available-for-sale investments								$	168,372

At December 31, 2016, we held the following securities and investments, recorded at either fair value or cost:

	Amortized		Gross Unrealized					Carrying
(In thousands)	Cost		Gains		Losses			Value
Deferred compensation plan assets	$	12,367	$	2,271	$	(42	)	$	14,596
Corporate bonds		66,522		64		(174	)		66,412
Municipal fixed-rate bonds		11,799		12		(37	)		11,774
Asset-backed bonds		10,201		19		(14	)		10,206
Mortgage/Agency-backed bonds		13,080		15		(91	)		13,004
U.S. government bonds		30,022		15		(270	)		29,767
Foreign government bonds		3,729		2		(1	)		3,730
Variable rate demand notes		11,855		—		—			11,855
Marketable equity securities		30,571		311		(1,503	)		29,379
Available-for-sale securities held at fair value	$	190,146	$	2,709	$	(2,132	)	$	190,723
Restricted investment held at cost									27,800
Other investments held at cost									767
Total carrying value of available-for-sale investments								$	219,290

Contractual Maturities of Corporate Bonds, Municipal Fixed-Rate Bonds, Asset-Backed Bonds, Mortgage/Agency-Backed Bonds, U.S. Government Bonds and Foreign Government Bonds

As of September 30, 2017, our corporate bonds, municipal fixed-rate bonds, asset-backed bonds, mortgage/agency-backed bonds, U.S. government bonds and foreign government bonds had the following contractual maturities:

(In thousands)	Corporate bonds		Municipal fixed-rate bonds		Asset- backed bonds		Mortgage / Agency- backed bonds		U.S. government bonds		Foreign government bonds
Less than one year	$	20,232	$	2,250	$	—	$	—	$	8,903	$	—
One to two years		11,678		724	$	2,638		—		—		—
Two to three years		10,029		730		2,235		—		10,413		728
Three to five years		3,280		1,170		1,550		917		1,578		—
Five to ten years		—		—		450		1,348		—		—
More than ten years		—		—		912		5,065		—		—
Total	$	45,219	$	4,874	$	7,785	$	7,330	$	20,894	$	728

Gross Realized Gains and Losses on Sale of Securities

The following table presents gross realized gains and losses related to our investments:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(In thousands)	2017			2016			2017			2016
Gross realized gains	$	1,094		$	1,346		$	3,324		$	5,226
Gross realized losses	$	(85	)	$	(30	)	$	(455	)	$	(1,072	)

Fair Value Measurements of Cash Equivalents Held in Money Market Funds and Investments

We have categorized our cash equivalents held in money market funds and our investments held at fair value into a three-level fair value hierarchy based on the priority of the inputs to the valuation technique for the cash equivalents and investments as follows: Level 1 - Values based on unadjusted quoted prices for identical assets or liabilities in an active market; Level 2 - Values based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly; Level 3 - Values based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs include information supplied by investees.

	Fair Value Measurements at September 30, 2017 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	8,115	$	8,115	$	—	$	—
Commercial Paper		35,436		—		35,436		—
Cash equivalents		43,551		8,115		35,436		—
Available-for-sale securities
Deferred compensation plan assets		19,113		19,113		—		—
Available-for-sale debt securities
Corporate bonds		45,219		—		45,219		—
Municipal fixed-rate bonds		4,874		—		4,874		—
Asset-backed bonds		7,785		—		7,785		—
Mortgage/Agency-backed bonds		7,330		—		7,330		—
U.S. government bonds		20,894		20,894		—		—
Foreign government bonds		728		—		728		—
Available-for-sale marketable equity securities
Marketable equity securities – various industries		34,082		34,082		—		—
Available-for-sale securities		140,025		74,089		65,936		—
Total	$	183,576	$	82,204	$	101,372	$	—

	Fair Value Measurements at December 31, 2016 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	6,878	$	6,878	$	—	$	—
Commercial Paper		17,222		—		17,222		—
Cash equivalents		24,100		6,878		17,222		—
Available-for-sale securities
Deferred compensation plan assets		14,596		14,596		—		—
Available-for-sale debt securities
Corporate bonds		66,412		—		66,412		—
Municipal fixed-rate bonds		11,774		—		11,774		—
Asset-backed bonds		10,206		—		10,206		—
Mortgage/Agency-backed bonds		13,004		—		13,004		—
U.S. government bonds		29,767		29,767		—		—
Foreign government bonds		3,730		—		3,730		—
Variable Rate Demand Notes		11,855		—		11,855		—
Available-for-sale marketable equity securities
Marketable equity securities – various industries		29,379		29,379		—		—
Available-for-sale securities		190,723		73,742		116,981		—
Total	$	214,823	$	80,620	$	134,203	$	—