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v3.22.2.2

Investments (Tables) | 9 Months Ended
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Sep. 30, 2022
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 Sheets and recorded at fair value:
|  | As of September 30, 2022 |
|  | Amortized |  |  | Gross Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate bonds |  | $ | 9,358 |  |  | $ | — |  |  | $ | (374 | ) |  | $ | 8,984 |
Municipal fixed-rate bonds |  |  | 1,411 |  |  |  | — |  |  |  | (54 | ) |  |  | 1,357 |
Asset-backed bonds |  |  | 2,988 |  |  |  | — |  |  |  | (77 | ) |  |  | 2,911 |
Mortgage/Agency-backed bonds |  |  | 4,720 |  |  |  | — |  |  |  | (280 | ) |  |  | 4,440 |
U.S. government bonds |  |  | 11,231 |  |  |  | — |  |  |  | (642 | ) |  |  | 10,589 |
Foreign government bonds |  |  | 409 |  |  |  | — |  |  |  | (27 | ) |  |  | 382 |
Available-for-sale debt securities held at fair value |  | $ | 30,117 |  |  | $ | — |  |  | $ | (1,454 | ) |  | $ | 28,663 |
|  | As of December 31, 2021 |
|  | 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 |
Contractual Maturities of Debt Securities and Other Investments | The contractual maturities related to debt securities and other investments were as follows:
|  | As of September 30, 2022
(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 |  | $ | 96 |  |  | $ | 525 |  |  | $ | — |  |  | $ | 182 |  |  | $ | — |  |  | $ | — |  |
One to two years |  |  | 5,371 |  |  |  | 722 |  |  |  | 95 |  |  |  | 464 |  |  |  | 7,421 |  |  |  | 275 |  |
Two to three years |  |  | 3,517 |  |  |  | 110 |  |  |  | 715 |  |  |  | 1,321 |  |  |  | 2,889 |  |  |  | 107 |  |
Three to five years |  |  | — |  |  |  | — |  |  |  | 1,306 |  |  |  | 166 |  |  |  | 279 |  |  |  | — |  |
Five to ten years |  |  | — |  |  |  | — |  |  |  | 382 |  |  |  | 810 |  |  |  | — |  |  |  | — |  |
More than ten years |  |  | — |  |  |  | — |  |  |  | 413 |  |  |  | 1,497 |  |  |  | — |  |  |  | — |  |
Total |  | $ | 8,984 |  |  | $ | 1,357 |  |  | $ | 2,911 |  |  | $ | 4,440 |  |  | $ | 10,589 |  |  | $ | 382 |  |
Gross Realized Gains and Losses on Sale of Debt Securities | The following table presents the gross realized gains and losses related to its debt securities:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Gross realized gain on debt securities |  | $ | 1 |  |  | $ | 22 |  |  | $ | 14 |  |  | $ | 206 |
Gross realized loss on debt securities |  |  | (116 | ) |  |  | (17 | ) |  |  | (242 | ) |  |  | (53 | )
Total (loss) gain recognized, net |  | $ | (115 | ) |  | $ | 5 |  |  | $ | (228 | ) |  | $ | 153 |
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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Realized (loss) gain on equity securities sold |  | $ | (1,358 | ) |  | $ | — |  |  | $ | (1,675 | ) |  | $ | (55 | )
Unrealized (loss) gain on equity securities held |  |  | (1,217 | ) |  |  | (68 | ) |  |  | (8,849 | ) |  |  | 2,844 |
Total (loss) gain recognized, net |  | $ | (2,575 | ) |  | $ | (68 | ) |  | $ | (10,524 | ) |  | $ | 2,789 |
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 September 30, 2022 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 |  | $ | 698 |  |  | $ | 698 |  |  | $ | — |  |  | $ | — |
Available-for-sale debt securities |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 8,984 |  |  |  | — |  |  |  | 8,984 |  |  |  | — |
Municipal fixed-rate bonds |  |  | 1,357 |  |  |  | — |  |  |  | 1,357 |  |  |  | — |
Asset-backed bonds |  |  | 2,911 |  |  |  | — |  |  |  | 2,911 |  |  |  | — |
Mortgage/Agency-backed bonds |  |  | 4,440 |  |  |  | — |  |  |  | 4,440 |  |  |  | — |
U.S. government bonds |  |  | 10,589 |  |  |  | 10,589 |  |  |  | — |  |  |  | — |
Foreign government securities |  |  | 382 |  |  |  | — |  |  |  | 382 |  |  |  | — |
Marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities – various industries |  |  | 760 |  |  |  | 760 |  |  |  | — |  |  |  | — |
Deferred compensation plan assets |  |  | 21,511 |  |  |  | 21,511 |  |  |  | — |  |  |  | — |
Total |  | $ | 51,632 |  |  | $ | 33,558 |  |  | $ | 18,074 |  |  | $ | — |
|  |  |  |  | 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 |  |  | $ | — |

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- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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