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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis, classified by the valuation hierarchy as of March 31, 2018 and December 31, 2017 (dollars in thousands):
 
 
March 31, 2018
 
Fair Value Measurements Using
 
Total
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Debt Securities:
 
 
 
 
 
 
 
U.S. Government
$
15,678

 
$

 
$
15,678

 
$

State and local government
16,552

 

 
16,552

 

Corporate debt
38,247

 

 
38,247

 

Asset-backed securities
25,258

 

 
25,258

 

Mortgage-backed securities
32,761

 

 
32,761

 

Commercial mortgage-backed securities
3,850

 

 
3,850

 

Collateralized mortgage obligations
2,365

 

 
2,365

 

Total debt securities
134,711

 

 
134,711

 

Equity Securities
5,327

 
5,082

 
245

 

Short-term investments
2,505

 
2,505

 

 

Total marketable investments measured at fair value
$
142,543

 
$
7,587

 
$
134,956

 
$

 
 
 
 
 
 
 
 
Investments measured at NAV:
 
 
 
 
 
 
 
Investment in limited partnership
$
4,098

 
 
 
 
 
 
Total investments measured at NAV
$
4,098

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets measured at fair value
146,641

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Debt *
$
29,804

 
$

 
$

 
$
29,804

Total Liabilities measured at fair value
$
29,804

 
$

 
$

 
$
29,804

* Carried at cost or amortized cost on the consolidated balance sheet

 
December 31, 2017
 
Fair Value Measurements Using
 
Total
 
Quoted Prices in Active Markets for
Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Debt Securities:
 
 
 
 
 
 
 
U.S. Government
$
17,090

 
$

 
$
17,090

 
$

State and local government
17,503

 

 
17,503

 

Corporate debt
38,908

 

 
38,908

 

Asset-backed securities
23,540

 

 
23,540

 

Mortgage-backed securities
33,458

 

 
33,458

 

Commercial mortgage-backed securities
3,491

 

 
3,491

 

Collateralized mortgage obligations
2,546

 

 
2,546

 

Total debt securities
136,536

 

 
136,536

 

Equity Securities
5,627

 
5,381

 
246

 

Short-term investments
11,427

 
8,429

 
2,998

 

Total assets measured at fair value
$
153,590

 
$
13,810

 
$
139,780

 
$

 
 
 
 
 
 
 
 
Investments measured at NAV:
 
 
 
 
 
 
 
Investment in limited partnership
$
4,060

 
 
 
 
 
 
Total investments measured at NAV
$
4,060

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets measured at fair value
$
157,650

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Debt *
$
29,888

 
$

 
$

 
$
29,888

Total Liabilities measured at fair value
$
29,888

 
$

 
$

 
$
29,888

* Carried at cost or amortized cost on the consolidated balance sheet