Insurance Subsidiary Investments (Tables)

12 Months Ended

Dec. 31, 2015

Summary Of Investments Other Than Investments In Related Parties [Abstract]

Cost of Equities, Amortized Cost of Debt Securities and Estimated Fair Value of Insurance Subsidiary Investments

The cost for equities, amortized cost for debt securities and estimated fair value of the Company’s insurance subsidiary investments at December 31 follows (in thousands):

	2015									2014
	Cost		Unrealized gains		Unrealized losses			Fair value		Cost		Unrealized gains		Unrealized losses			Fair value
Cash and cash equivalents (a)	$	186,029	$	−	$	−		$	186,029	$	150,556	$	−	$	−		$	150,556
Debt securities:
Corporate bonds		46,940		5		(122	)		46,823		49,077		19		(60	)		49,036
Debt securities issued by U.S. government agencies		22,497		−		(43	)		22,454		25,313		19		(19	)		25,313
U.S. Treasury notes		33,386		−		(55	)		33,331		25,813		3		(7	)		25,809
		102,823		5		(220	)		102,608		100,203		41		(86	)		100,158
Equities by industry:
Consumer		2,271		182		(36	)		2,417		1,539		107		(13	)		1,633
Healthcare		1,896		116		(37	)		1,975		962		60		(8	)		1,014
Industrials		1,994		86		(157	)		1,923		649		14		(22	)		641
Financial services		1,854		55		(81	)		1,828		975		56		(6	)		1,025
Technology		1,533		66		(98	)		1,501		989		41		(34	)		996
Energy		1,015		−		(15	)		1,000		1,103		−		(159	)		944
Other		3,849		26		(268	)		3,607		2,042		40		(106	)		1,976
		14,412		531		(692	)		14,251		8,259		318		(348	)		8,229
Certificates of deposit		8,250		−		(2	)		8,248		7,051		2		−			7,053
	$	311,514	$	536	$	(914	)	$	311,136	$	266,069	$	361	$	(434	)	$	265,996

(a) Includes $29.6 million and $15.6 million of money market funds at December 31, 2015 and 2014, respectively.

Fair Value by Maturity Periods of Available for Sale Investments

The fair value by maturity periods at December 31, 2015 of available-for-sale investments of the Company’s insurance subsidiary follows. Equities generally do not have maturity dates.

(In thousands)	Contractual maturities
Within one year	$	238,296
One year to five years		58,589
After five years		−
Equities		14,251
	$	311,136

Net Investment Income Earned by Insurance Subsidiary Investments

Net investment income earned by the Company’s insurance subsidiary investments follows (in thousands):

	Year ended December 31,
	2015			2014			2013
Interest income	$	1,461		$	1,013		$	1,011
Net amortization of premium and accretion of discount		(348	)		(325	)		(330	)
Gains on sale of investments		646			2,895			3,404
Losses on sale of investments		(33	)		(92	)		(24	)
Other-than-temporary impairments		(440	)		−			(143	)
Investment expenses		(215	)		(145	)		(118	)
	$	1,071		$	3,346		$	3,800

Available for Sale Investments of Insurance Subsidiary which have Unrealized Losses

The available-for-sale investments of the Company’s insurance subsidiary which have unrealized losses at December 31, 2015 and 2014 are shown below. The investments are categorized by the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015 and 2014.

	December 31, 2015	Less than one year				One year or greater				Total
(In thousands)		Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities:
Corporate bonds		$	42,299	$	104	$	878	$	18	$	43,177	$	122
Debt securities issued by U.S. government agencies			20,503		43		−		−		20,503		43
U.S. Treasury notes			33,331		55		−		−		33,331		55
			96,133		202		878		18		97,011		220
Equities by industry:
Consumer			381		36		−		−		381		36
Healthcare			700		37		−		−		700		37
Industrials			1,026		157		−		−		1,026		157
Financial services			860		81		−		−		860		81
Technology			892		98		−		−		892		98
Energy			182		15		−		−		182		15
Other			2,990		268		−		−		2,990		268
			7,031		692		−		−		7,031		692
Certificates of deposit			4,848		2		−		−		4,848		2
		$	108,012	$	896	$	878	$	18	$	108,890	$	914

	December 31, 2014	Less than one year				One year or greater				Total
(In thousands)		Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Debt securities:
Corporate bonds		$	34,859	$	60	$	−	$	−	$	34,859	$	60
Debt securities issued by U.S. government agencies			13,294		19		−		−		13,294		19
U.S. Treasury notes			15,626		7		−		−		15,626		7
			63,779		86		−		−		63,779		86
Equities by industry:
Consumer			372		13		−		−		372		13
Healthcare			321		8		−		−		321		8
Industrials			339		22		−		−		339		22
Financial services			110		3		159		3		269		6
Technology			470		34		−		−		470		34
Energy			944		159		−		−		944		159
Other			1,343		106		−		−		1,343		106
			3,899		345		159		3		4,058		348
		$	67,678	$	431	$	159	$	3	$	67,837	$	434