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Investments (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Debt Securities and Other Investments, Included on Consolidated Balance Sheet and Recorded at Fair Value | As of December 31, 2022, 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 |  | $ | 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 gross realized gains and losses related to our debt securities for the years ended December 31, 2023, 2022 and 2021:
|  | For the year ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Gross realized gains on debt securities |  | $ | 9 |  |  | $ | 17 |  |  | $ | 241 |
Gross realized losses on debt securities |  |  | (355 | ) |  |  | (1,211 | ) |  |  | (159 | )
Total (loss) gain recognized, net |  | $ | (346 | ) |  | $ | (1,194 | ) |  | $ | 82 |
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, 2022:
|  | 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 |  | $ | 1,367 |  |  | $ | (39 | ) |  | $ | 583 |  |  | $ | (42 | ) |  | $ | 1,950 |  |  | $ | (81 | )
Municipal fixed-rate bonds |  |  | — |  |  |  | — |  |  |  | 180 |  |  |  | (5 | ) |  |  | 180 |  |  |  | (5 | )
Asset-backed bonds |  |  | 524 |  |  |  | (14 | ) |  |  | 117 |  |  |  | (10 | ) |  |  | 641 |  |  |  | (24 | )
Mortgage/Agency-backed bonds |  |  | 825 |  |  |  | (23 | ) |  |  | 844 |  |  |  | (82 | ) |  |  | 1,668 |  |  |  | (105 | )
U.S. government bonds |  |  | 2,215 |  |  |  | (106 | ) |  |  | 1,063 |  |  |  | (82 | ) |  |  | 3,278 |  |  |  | (188 | )
Foreign government bonds |  |  | — |  |  |  | — |  |  |  | 383 |  |  |  | (24 | ) |  |  | 383 |  |  |  | (24 | )
Total |  | $ | 4,931 |  |  | $ | (182 | ) |  | $ | 3,170 |  |  | $ | (245 | ) |  | $ | 8,100 |  |  | $ | (427 | )
Realized and Unrealized Gains and Losses for Marketable Equity Securities | Re alized and unrealized gains and losses for our marketable equity securities for the year ended December 31, 2023, 2022 and 2021 were as follows:
|  | For the year ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Realized gains (losses) on equity securities sold |  | $ | 17 |  |  | $ | (1,675 | ) |  | $ | (992 | )
Unrealized gains (losses) on equity securities held |  |  | 3,083 |  |  |  | (8,470 | ) |  |  | 2,671 |
Total gain (loss) recognized, net |  | $ | 3,100 |  |  | $ | (10,145 | ) |  | $ | 1,679 |
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, 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 |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 5,302 |  |  | $ | 5,302 |  |  | $ | — |  |  | $ | — |
Marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities - various industries |  |  | 905 |  |  |  | 905 |  |  |  | — |  |  |  | — |
Deferred compensation plan assets |  |  | 26,838 |  |  |  | 26,838 |  |  |  | — |  |  |  | — |
Total |  | $ | 33,045 |  |  | $ | 33,045 |  |  | $ | — |  |  | $ | — |
|  | 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 |  |  | $ | — |  |  | $ | — |
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 |  |  | 804 |  |  |  | 804 |  |  |  | — |  |  |  | — |
Deferred compensation plan assets |  |  | 22,942 |  |  |  | 22,942 |  |  |  | — |  |  |  | — |
Total |  | $ | 33,227 |  |  | $ | 27,659 |  |  | $ | 5,568 |  |  | $ | — |

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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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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