XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Investments Debt And Equity Securities [Abstract] |
Debt Securities and Other Investments, Included on Condensed Consolidated Balance Sheet and Recorded at Fair Value | Debt Securities and Other Investments The following debt securities and other investments were included on the Condensed Consolidated Balance Sheet and recorded at fair value:
|  | As of June 30, 2021 |
|  | Amortized |  |  | Gross Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate bonds |  | $ | 14,954 |  |  | $ | 53 |  |  | $ | (6 | ) |  | $ | 15,001 |
Municipal fixed-rate bonds |  |  | 2,523 |  |  |  | 15 |  |  |  | (1 | ) |  |  | 2,537 |
Asset-backed bonds |  |  | 3,983 |  |  |  | 20 |  |  |  | (2 | ) |  |  | 4,001 |
Mortgage/Agency-backed bonds |  |  | 11,004 |  |  |  | 50 |  |  |  | (15 | ) |  |  | 11,039 |
U.S. government bonds |  |  | 10,777 |  |  |  | 51 |  |  |  | (5 | ) |  |  | 10,823 |
Foreign government bonds |  |  | 546 |  |  |  | 1 |  |  |  | (1 | ) |  |  | 546 |
Other |  |  | 533 |  |  |  | — |  |  |  | — |  |  |  | 533 |
Available-for-sale debt securities held at fair value |  | $ | 44,320 |  |  | $ | 190 |  |  | $ | (30 | ) |  | $ | 44,480 |
|  | 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 June 30, 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 |  | $ | 436 |  |  | $ | 529 |  |  | $ | 1 |  |  | $ | 254 |  |  | $ | 735 |  |  | $ | — |  |  | $ | 533 |
One to two years |  |  | 4,575 |  |  |  | 496 |  |  |  | — |  |  |  | 1,865 |  |  |  | 7,240 |  |  |  | — |  |  |  | — |
Two to three years |  |  | 7,518 |  |  |  | 1,103 |  |  |  | 50 |  |  |  | 1,199 |  |  |  | 1,188 |  |  |  | 546 |  |  |  | — |
Three to five years |  |  | 2,472 |  |  |  | 409 |  |  |  | 1,749 |  |  |  | 165 |  |  |  | 1,660 |  |  |  | — |  |  |  | — |
Five to ten years |  |  | — |  |  |  | — |  |  |  | 866 |  |  |  | 2,213 |  |  |  | — |  |  |  | — |  |  |  | — |
More than ten years |  |  | — |  |  |  | — |  |  |  | 1,335 |  |  |  | 5,343 |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 15,001 |  |  | $ | 2,537 |  |  | $ | 4,001 |  |  | $ | 11,039 |  |  | $ | 10,823 |  |  | $ | 546 |  |  | $ | 533 |
Gross Realized Gains and Losses on Sale of Debt Securities | The following table presents the gross realized gains and losses related to our debt securities:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Gross realized gain on debt securities |  | $ | 97 |  |  | $ | 190 |  |  | $ | 184 |  |  | $ | 233 |
Gross realized loss on debt securities |  |  | (20 | ) |  |  | (19 | ) |  |  | (36 | ) |  |  | (39 | )
Total gain recognized, net |  | $ | 77 |  |  | $ | 171 |  |  | $ | 148 |  |  | $ | 194 |
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 |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Realized gain (loss) on equity securities sold |  | $ | (79 | ) |  | $ | 328 |  |  | $ | (55 | ) |  | $ | (2,108 | )
Unrealized gain on equity securities held |  |  | 2,011 |  |  |  | 9,353 |  |  |  | 2,912 |  |  |  | 889 |
Total gain (loss) recognized, net |  | $ | 1,932 |  |  | $ | 9,681 |  |  | $ | 2,857 |  |  | $ | (1,219 | )
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 June 30, 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 |  | $ | 615 |  |  | $ | 615 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 1,250 |  |  |  | — |  |  |  | 1,250 |  |  |  | — |
Available-for-sale debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 15,001 |  |  |  | — |  |  |  | 15,001 |  |  |  | — |
Municipal fixed-rate bonds |  |  | 2,537 |  |  |  | — |  |  |  | 2,537 |  |  |  | — |
Asset-backed bonds |  |  | 4,001 |  |  |  | — |  |  |  | 4,001 |  |  |  | — |
Mortgage/Agency-backed bonds |  |  | 11,039 |  |  |  | — |  |  |  | 11,039 |  |  |  | — |
U.S. government bonds |  |  | 10,823 |  |  |  | 10,823 |  |  |  | — |  |  |  | — |
Foreign government securities |  |  | 546 |  |  |  | — |  |  |  | 546 |  |  |  | — |
Other |  |  | 533 |  |  |  | — |  |  |  | — |  |  |  | 533 |
Marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities – various industries |  |  | 12,057 |  |  |  | 12,057 |  |  |  | — |  |  |  | — |
Deferred compensation plan assets |  |  | 25,917 |  |  |  | 25,917 |  |  |  | — |  |  |  | — |
Other investments |  |  | 1,400 |  |  |  | 1,400 |  |  |  | — |  |  |  | — |
Total |  | $ | 85,719 |  |  | $ | 50,812 |  |  | $ | 34,374 |  |  | $ | 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References No definition available. + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration