XML 49 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1

Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

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

Debt Securities and Other Investments

As of December 31, 2021, the following debt securities and other investments were included in short-term investments and long-term investments on the Consolidated Balance Sheet and recorded at fair value:

		Amortized				Gross Unrealized								Fair
(In thousands)		Cost				Gains				Losses				Value
Corporate bonds		$	10,776			$	6			$	(35	)		$	10,747
Municipal fixed-rate bonds			1,553				2				(4	)			1,551
Asset-backed bonds			322				3				(3	)			322
Mortgage/Agency-backed bonds			4,754				15				(33	)			4,736
U.S. government bonds			12,251				12				(92	)			12,171
Foreign government bonds			543				—				(4	)			539
Available-for-sale debt securities held at fair value		$	30,199			$	38			$	(171	)		$	30,066

As of December 31, 2020, the following debt securities and other investments were included in short-term investments and long-term investments on the Consolidated Balance Sheet and recorded at fair value:

		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

As of December 31, 2021, our debt securities 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		$	681			$	150			$	—			$	801			$	1,884			$	—
One to two years			4,902				1,018				—				868				5,320				245
Two to three years			4,333				265				29				—				4,421				294
Three to five years			831				118				—				324				546				—
Five to ten years			—				—				—				1,125				—				—
More than ten years			—				—				293				1,618				—				—
Total		$	10,747			$	1,551			$	322			$	4,736			$	12,171			$	539

Gross Realized Gains and Losses on Sale of Debt Securities

The following table presents gross realized gains and losses related to our debt securities for the years ended December 31, 2021, 2020 and 2019:

		For the year ended December 31,
(In thousands)		2021				2020				2019
Gross realized gains on debt securities		$	241			$	459			$	108
Gross realized losses on debt securities			(159	)			(58	)			(50	)
Total gain recognized, net		$	82			$	401			$	58

Breakdown of Investments with Unrealized Losses

The following table presents the breakdown of debt securities and other investments with unrealized losses as of December 31, 2021:

		Continuous Unrealized Loss Position for Less than 12 Months								Continuous Unrealized Loss Position for 12 Months or Greater								Total
(In thousands)		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate bonds		$	6,795			$	(35	)		$	—			$	—			$	6,795			$	(35	)
Municipal fixed-rate bonds			1,129				(4	)			—				—				1,129				(4	)
Asset-backed bonds			198				(3	)			—				—				198				(3	)
Mortgage/Agency-backed bonds			3,006				(33	)			—				—				3,006				(33	)
U.S. government bonds			10,552				(92	)			—				—				10,552				(92	)
Foreign government bonds			294				(4	)			—				—				294				(4	)
Total		$	21,974			$	(171	)		$	—			$	—			$	21,974			$	(171	)

The following table presents the breakdown of debt securities and other investments with unrealized losses as of December 31, 2020:

		Continuous Unrealized Loss Position for Less than 12 Months								Continuous Unrealized Loss Position for 12 Months or Greater								Total
(In thousands)		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate bonds		$	336			$	—			$	—			$	—			$	336			$	—
Municipal fixed-rate bonds			310				—				—				—				310				—
Asset-backed bonds			2				—				—				—				2				—
Mortgage/Agency-backed bonds			2,078				(6	)			—				—				2,078				(6	)
U.S. government bonds			350				—				—				—				350				—
Foreign government bonds			302				(1	)			—				—				302				(1	)
Total		$	3,378			$	(7	)		$	—			$	—			$	3,378			$	(7	)

Realized and Unrealized Gains and Losses for Marketable Equity Securities

Realized and unrealized gains and losses for our marketable equity securities for the year ended December 31, 2021, 2020 and 2019 were as follows:

		For the year ended December 31,
(In thousands)		2021				2020				2019
Realized losses on equity securities sold		$	(992	)		$	(2,382	)		$	(96	)
Unrealized gains on equity securities held			2,671				6,831				11,472
Total gain (loss) recognized, net		$	1,679			$	4,449			$	11,376

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 December 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		$	652			$	652			$	—			$	—
Available-for-sale debt securities
Corporate bonds			10,747				—				10,747				—
Municipal fixed-rate bonds			1,551				—				1,551				—
Asset-backed bonds			322				—				322				—
Mortgage/Agency-backed bonds			4,736				—				4,736				—
U.S. government bonds			12,171				12,171				—				—
Foreign government bonds			539				—				539				—
Marketable equity securities
Marketable equity securities - various industries			12,606				12,606				—				—
Deferred compensation plan assets			26,935				26,935				—				—
Total		$	70,259			$	52,364			$	17,895			$	—

		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 investments			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=123874694&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=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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:	dtr-types: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:	dtr-types: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:	dtr-types: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=123581744&loc=d3e27357-111563

+ Details

Name:	us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of unrealized gains and losses on investments.

+ References

No definition available.

+ Details

Name:	us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration