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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

 

 

September 30, 2021

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

(in thousands)

 

Equity securities, debt securities and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond funds

$

128,987

 

 

$

128,987

 

 

$

 

 

$

 

Exchange traded funds

 

35,090

 

 

 

35,090

 

 

 

 

 

 

 

Corporate debt securities

 

357,762

 

 

 

 

 

 

357,762

 

 

 

 

U.S. government debt securities

 

64,135

 

 

 

 

 

 

64,135

 

 

 

 

U.S. agency debt securities

 

39,693

 

 

 

 

 

 

39,693

 

 

 

 

Municipal bonds

 

24,389

 

 

 

 

 

 

24,389

 

 

 

 

Yankee debt securities

 

12,330

 

 

 

 

 

 

12,330

 

 

 

 

Redeemable preferred stock investment

 

20,000

 

 

 

 

 

 

 

 

 

20,000

 

Money market accounts

 

50,425

 

 

 

50,425

 

 

 

 

 

 

 

Total equity securities, debt securities and cash equivalents

$

732,811

 

 

$

214,502

 

 

$

498,309

 

 

$

20,000

 

 

December 31, 2020

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

(in thousands)

 

Equity securities, debt securities and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond funds

$

153,185

 

 

$

153,185

 

 

$

 

 

$

 

Exchange traded funds

 

17,609

 

 

 

17,609

 

 

 

 

 

 

 

Corporate debt securities

 

166,599

 

 

 

 

 

 

166,599

 

 

 

 

Yankee debt securities

 

6,048

 

 

 

 

 

 

6,048

 

 

 

 

U.S. agency debt securities

 

1,002

 

 

 

 

 

 

1,002

 

 

 

 

Money market accounts

 

47,461

 

 

 

47,461

 

 

 

 

 

 

 

Total equity securities, debt securities and cash equivalents

$

391,904

 

 

$

218,255

 

 

$

173,649

 

 

$