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Investments (Tables)

9 Months Ended

Sep. 30, 2023

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 December 31, 2022:

		As of December 31, 2022
		Amortized				Gross Unrealized								Fair
(In thousands)		Cost				Gains				Losses				Value
Corporate bonds		$	2,538			$	5			$	(81	)		$	2,462
Municipal fixed-rate bonds			185				—				(5	)			180
Asset-backed bonds			818				1				(24	)			795
Mortgage/Agency-backed bonds			1,853				—				(105	)			1,748
U.S. government bonds			3,870				3				(188	)			3,685
Foreign government bonds			407				—				(24	)			383
Available-for-sale debt securities held at fair value		$	9,671			$	9			$	(427	)		$	9,253

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)		2023				2022				2023				2022
Gross realized gain on debt securities		$	5			$	1			$	9			$	14
Gross realized loss on debt securities			(317	)			(116	)			(355	)			(242	)
Total loss recognized, net		$	(312	)		$	(115	)		$	(346	)		$	(228	)

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)		2023				2022				2023				2022
Unrealized gain (loss) on equity securities held		$	(1,130	)		$	(1,217	)		$	1,404			$	(8,849	)
Realized gain (loss) on equity securities sold			(1	)			(1,358	)			13				(1,675	)
Total gain (loss) recognized, net		$	(1,131	)		$	(2,575	)		$	1,417			$	(10,524	)

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, 2023 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
U.S. government securities		$	—			$	—			$	—			$	—
Money market funds			5,245				5,245				—				—
Commercial paper			—				—				—				—
Total cash equivalents		$	5,245			$	5,245			$	-			$	—
Marketable equity securities
Marketable equity securities – various industries			815				815				—				—
Deferred compensation plan assets			24,364				24,364				—				—
Total long-term investments		$	25,179			$	25,179			$	—			$	—
Total		$	30,424			$	30,424			$	—			$	—

						Fair Value Measurements as of December 31, 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		$	228			$	228			$	—			$	—
Total cash equivalents		$	228			$	228			$	—			$	—
Available-for-sale debt securities
Corporate bonds		$	2,462			$	—			$	2,462			$	—
Municipal fixed-rate bonds			180				—				180				—
Asset-backed bonds			795				—				795				—
Mortgage/Agency-backed bonds			1,748				—				1,748				—
U.S. government bonds			3,685				3,685				—				—
Foreign government bonds			383				—				383				—
Marketable equity securities
Marketable equity securities – various industries			810				810				—				—
Deferred compensation plan assets			22,942				22,942				—				—
Total short-term and long-term investments		$	33,005			$	27,437			$	5,568			$	-
Total		$	33,233			$	27,665			$	5,568			$	—

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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9)(a))
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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
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