Equity and Debt Securities (Tables)

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Summary of Equity and Debt Securities

The Company’s equity and debt securities consisted of the following:

	December 31, 2021
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities:
Short-term
Bond funds	$	99,314		$	—	$	(515	)	$	98,799
Exchange traded funds		35,174			—		(174	)		35,000
Total equity securities		134,488			—		(689	)		133,799
Available-for-sale debt securities
Short-term
Corporate debt securities		92,116			24		(148	)		91,992
Money market accounts		77,067			—		—			77,067
U.S. government debt securities		51,318			—		(81	)		51,237
Municipal bonds		4,980			—		(12	)		4,968
Yankee debt securities		3,615			—		(6	)		3,609
Less: Cash equivalents		(77,067	)		—		—			(77,067	)
Total debt securities due within 1 year		152,029			24		(247	)		151,806
After 1 year through 5 years
Corporate debt securities		242,421			29		(1,913	)		240,537
U.S. government debt securities		147,699			7		(786	)		146,920
U.S. agency debt securities		70,069			—		(535	)		69,534
Municipal bonds		11,920			13		(11	)		11,922
Yankee debt securities		8,633			—		(89	)		8,544
Total debt securities due after 1 year through 5 years		480,742			49		(3,334	)		477,457
After 5 years through 10 years
Municipal bonds		7,633			—		(43	)		7,590
Redeemable preferred stock investment		20,000			1,965		—			21,965
Total debt securities due after 5 years through 10 years		27,633			1,965		(43	)		29,555
Total available-for-sale debt securities		660,404			2,038		(3,624	)		658,818
Total equity and debt securities	$	794,892		$	2,038	$	(4,313	)	$	792,617

	December 31, 2020
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities:
Short-term
Bond funds	$	153,269		$	67	$	(151	)	$	153,185
Exchange traded funds		17,614			—		(5	)		17,609
Total equity securities		170,883			67		(156	)		170,794
Available-for-sale debt securities
Short-term
Money market accounts		47,461			—		—			47,461
Corporate debt securities		41,061			101		(15	)		41,147
Less: Cash equivalents		(47,461	)		—		—			(47,461	)
Total debt securities due within 1 year		41,061			101		(15	)		41,147
After 1 year through 5 years
Corporate debt securities		124,989			580		(117	)		125,452
U.S. agency debt securities		1,000			2		—			1,002
Yankee debt securities		6,054			4		(10	)		6,048
Total debt securities due after 1 year through 5 years		132,043			586		(127	)		132,502
Total available-for-sale debt securities		173,104			687		(142	)		173,649
Total equity and debt securities	$	343,987		$	754	$	(298	)	$	344,443