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Investments (Tables)

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Debt Securities and Other Investments, Included on Condensed Consolidated Balance Sheets and Recorded at Fair Value

Debt Securities and Other Investments

The following debt securities and other investments were included on the Condensed Consolidated Balance Sheets and recorded at fair value:

		As of  March 31,2021
		Amortized				Gross Unrealized								Fair
(In thousands)		Cost				Gains				Losses				Value
Corporate bonds		$	14,176			$	68			$	(13	)		$	14,231
Municipal fixed-rate bonds			2,600				25				—				2,625
Asset-backed bonds			5,772				42				(2	)			5,812
Mortgage/Agency-backed bonds			11,775				92				(22	)			11,845
U.S. government bonds			9,704				66				(1	)			9,769
Foreign government bonds			1,331				3				(2	)			1,332
Other			533				—				—				533
Available-for-sale debt securities held at fair value		$	45,891			$	296			$	(40	)		$	46,147

		As of December 31, 2020
		Amortized				Gross Unrealized								Fair
(In thousands)		Cost				Gains				Losses				Value
Corporate bonds		$	11,762			$	123			$	—			$	11,885
Municipal fixed-rate bonds			2,854				30				—				2,884
Asset-backed bonds			6,634				74				—				6,708
Mortgage/Agency-backed bonds			11,536				114				(6	)			11,644
U.S. government bonds			9,763				112				—				9,875
Foreign government bonds			1,334				4				(1	)			1,337
Commercial Paper			250				—				—				250
Other			533				—				—				533
Available-for-sale debt securities held at fair value		$	44,666			$	457			$	(7	)		$	45,116

Contractual Maturities of Debt Securities and Other Investments

The contractual maturities related to debt securities and other investments were as follows:

		As of  March 31,2021
(In thousands)		Corporate bonds				Municipal fixed-rate bonds				Asset- backed bonds				Mortgage / Agency- backed bonds				U.S. government bonds			Foreign government bonds				Other
Less than one year		$	1,323			$	357			$	16			$	296			$	1,282		$	75			$	533
One to two years			3,758				1,130				13				2,090				6,831			460				—
Two to three years			7,509				1,138				272				1,740				1,656			497				—
Three to five years			1,641				—				3,445				175				—			300				—
Five to ten years			—				—				1,143				2,457				—			—				—
More than ten years			—				—				923				5,087				—			—				—
Total		$	14,231			$	2,625			$	5,812			$	11,845			$	9,769		$	1,332			$	533

Gross Realized Gains and Losses on Sale of Debt Securities

The following table presents gross realized gains and losses related to debt securities:

		Three Months Ended
		March 31,
(In thousands)		2021				2020
Gross realized gains on debt securities		$	87			$	43
Gross realized losses on debt securities			(16	)			(20	)
Total gain recognized, net		$	71			$	23

Realized and Unrealized Gains and Losses related to Marketable Equity Securities

Realized and unrealized gains and losses related to marketable equity securities were as follows:

		Three Months Ended
		March 31,
(In thousands)		2021				2020
Realized gains (losses) on equity securities sold		$	24			$	(2,436	)
Unrealized gains (losses) on equity securities held			901				(8,464	)
Total gain (loss) recognized, net		$	925			$	(10,900	)

Cash Equivalents and Investments held at Fair Value

The Company’s cash equivalents and investments held at fair value are categorized into this hierarchy as follows:

						Fair Value Measurements as of March 31, 2021 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		$	889			$	889			$	—			$	—
Available-for-sale debt securities
Corporate bonds			14,231				—				14,231				—
Municipal fixed-rate bonds			2,625				—				2,625				—
Asset-backed bonds			5,812				—				5,812				—
Mortgage/Agency-backed bonds			11,845				—				11,845				—
U.S. government bonds			9,769				9,769				—				—
Foreign government bonds			1,332				—				1,332				—
Other			533				—				—				533
Marketable equity securities
Marketable equity securities – various industries			11,544				11,544				—				—
Deferred compensation plan assets			24,364				24,364				—				—
Other investments			1,400				1,400				—				—
Total		$	84,344			$	47,966			$	35,845			$	533

						Fair Value Measurements as of December 31, 2020 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		$	497			$	497			$	—			$	—
U.S. government bonds			350				350				—				—
Available-for-sale debt securities
Corporate bonds			11,885				—				11,885				—
Municipal fixed-rate bonds			2,884				—				2,884				—
Asset-backed bonds			6,708				—				6,708				—
Mortgage/Agency-backed bonds			11,644				—				11,644				—
U.S. government bonds			9,875				9,875				—				—
Foreign government bonds			1,337				—				1,337				—
Commercial paper			250				—				250				—
Other			533				—				—				533
Marketable equity securities
Marketable equity securities – various industries			10,963				10,963				—				—
Deferred compensation plan assets			23,891				23,891				—				—
Other investments			1,400				1,400				—				—
Total		$	82,217			$	46,976			$	34,708			$	533

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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Tabular disclosure of realized and unrealized gain (loss) on investment in security.

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
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