Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of March 31, 2020 (in thousands):

	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Money market funds - equity securities (1)	$	34,791	$	34,791	$	—	$	—
Marketable equity securities (2)		390		390
Corporate bonds and notes - debt securities (3)		32,352		—		32,352		—
Commercial paper - debt securities (3)		1,325		—		1,325		—
Total Assets	$	68,858	$	35,181	$	33,677	$	—

(1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.

(2) Reported as equity securities in the Condensed Consolidated Balance Sheet.

(3) Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

The following sets forth the fair value, and classification within the hierarchy, of the Company’s assets required to be measured at fair value on a recurring basis as of December 31, 2019 (in thousands):

	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Money market funds - equity securities (1)	$	2,601	$	2,601	$	—	$	—
Marketable equity securities (2)		1,124		1,124		—		—
Commercial paper - debt securities (3)		4,056		—		4,056		—
Corporate bonds and notes - debt securities (3)		41,746		—		41,746		—
Total Assets	$	49,527	$	3,725	$	45,802	$	—

(1) Reported as cash and cash equivalents in the Condensed Consolidated Balance Sheet.

(2) Reported as equity securities in the Condensed Consolidated Balance Sheet.

(3) Reported as AFS debt securities in the Condensed Consolidated Balance Sheet.

Schedule of Carrying Amounts and Estimated Fair Values

The carrying amounts and estimated fair values are as follows (in thousands):

	March 31, 2020				December 31, 2019
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt, net (1)	$	335,293	$	323,253	$	334,679	$	335,642

(1) Carrying amounts of long-term debt are net of unamortized debt issuance costs of $8.7 million and $9.3 million as of March 31, 2020 and December 31, 2019, respectively. See “Note 8 – Debt” for additional information.