Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize our financial assets and liabilities that are measured at fair value on a recurring basis and the fair value measurements, by level, within the fair value hierarchy as of March 31, 2021 and December 31, 2020:

			Fair Value Measurements Using:
As of March 31, 2021	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Assets:
Investments—equity securities	$	23	$	23	$	—	$	—
Investments—guaranteed income fund	2,148		—		—		2,148
Investments—mutual funds and other	8,712		8,712		—		—
Total investments	10,883		8,735		—		2,148
Derivative assets	3,462		—		3,462		—
Total assets	$	14,345	$	8,735	$	3,462	$	2,148
Liabilities:
Derivative liabilities	$	84	$	—	$	84	$	—

			Fair Value Measurements Using:
As of December 31, 2020	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Assets:
Investments—equity securities	$	21	$	21	$	—	$	—
Investments—guaranteed income fund	2,156		—		—		2,156
Investments—mutual funds and other	8,599		8,599		—		—
Total investments	10,776		8,620		—		2,156
Derivative assets	3,269		—		3,269		—
Total assets	$	14,045	$	8,620	$	3,269	$	2,156
Liabilities:
Derivative liabilities	$	127	$	—	$	127	$	—

Summary of Changes in Fair Value of Investments

The following table sets forth the summary of the changes in the fair value of Level 3 investments for the three months ended March 31, 2021 and 2020:

	Three months ended March 31,
	2021		2020
(in thousands)
Beginning Balance	$	2,156	$	803
Purchases and adjustments	22		9
Transfers	—		57
Distribution	(38)		(38)
Investment income	8		4
Ending Balance	$	2,148	$	835