Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2021

A summary of assets (liabilities) measured at fair value is as follows:


	As of September 30, 2021
	Total		Level 1		Level 2		Level 3


Commercial paper	$	141,157	$	—	$	141,157	$	—
Corporate bonds	$	303,262	—		303,262		—

Municipal bonds	$	14,490	—		14,490		—
Commodity contract derivatives	$	(3,976)	(258)		(3,718)		—


	$	454,933	$	(258)	$	455,191	$	—


	As of December 31, 2020
	Total		Level 1		Level 2		Level 3



Commercial paper	$	48,714	$	—	$	48,714	$	—
Corporate bonds	$	169,998	—		169,998		—
U.S. Treasury bills	$	44,992	44,992		—		—
Municipal bonds	$	5,839	—		5,839		—
Commodity contract derivatives	$	(8,706)	(3,069)		(5,637)		$	—


	$	260,837	$	41,923	$	218,914	$	—

The estimated fair values of the Company’s financial instruments, which are not recorded at fair value, are as follows:


	As of September 30, 2021				As of December 31, 2020
	Asset (Liability) Carrying Amount		Fair Value		Asset (Liability) Carrying Amount		Fair Value
Financial liabilities:
Debt and line of credit	$	(550,003)	$	(562,962)	$	(66,977)	$	(418,107)