Investments

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

The investment balances at September 30, 2022 and December 31, 2021, consisted of the following:


(in thousands)	September 30, 2022		December 31, 2021
Rabbi trust (associated with the Non-Qualified Deferred Compensation Plan)	$	9,874	$	12,069
Investments in equity securities	21		26
Total	$	9,895	$	12,095

We classify these investments as trading securities and report them at their fair value. For the three months ended September 30, 2022 and 2021, we recorded a net unrealized loss of $0.4 million and a net unrealized loss of less than $0.1 million, respectively, in other income, net in the condensed consolidated statements of income related to these investments. For the nine months ended September 30, 2022 and 2021, we recorded a net unrealized loss of approximately $2.4 million and a net unrealized gain of approximately $1.0 million, respectively, in other expense, net in the condensed consolidated statements of income related to these investments. For the investment in the Rabbi Trust, we also have recorded an associated liability, which is included in other pension and benefit costs in the consolidated balance sheets and is adjusted each period for the gains and losses incurred by the investments in the Rabbi Trust.