XML 45 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2

Investments (Tables)

9 Months Ended

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			$	—

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 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

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 https://asc.fasb.org/extlink&oid=126970911&loc=d3e27357-111563

+ Details

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