Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021 and December 31, 2020:

			Fair Value Measurements Using:
As of June 30, 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	$	22	$	22	$	—	$	—
Investments—guaranteed income fund	2,191		—		—		2,191
Investments—mutual funds and other	9,532		9,532		—		—
Total investments	11,745		9,554		—		2,191
Derivative assets	8,056		—		8,056		—
Total assets	$	19,801	$	9,554	$	8,056	$	2,191
Liabilities:
Derivative liabilities	$	351	$	—	$	351	$	—

			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 six months ended June 30, 2021 and 2020:

	Six months ended June 30,
	2021		2020
(in thousands)
Beginning Balance	$	2,156	$	803
Purchases and adjustments	70		226
Transfers	—		1,345
Distribution	(51)		(50)
Investment income	16		10
Ending Balance	$	2,191	$	2,334