Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 2022 and December 31, 2021:

			Fair Value Measurements Using:
As of September 30, 2022	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	1,846		—		—		1,846
Investments—mutual funds and other	8,028		8,028		—		—
Total investments	9,895		8,049		—		1,846
Derivative assets	4,552		—		4,552		—
Total assets	$	14,447	$	8,049	$	4,552	$	1,846
Liabilities:
Derivative liabilities	$	2,051	$	—	$	2,051	$	—

			Fair Value Measurements Using:
As of December 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	$	26	$	26	$	—	$	—
Investments—guaranteed income fund	2,036		—		—		2,036
Investments—mutual funds and other	10,033		10,033		—		—
Total investments	12,095		10,059		—		2,036
Derivative assets	7,076		—		7,076		—
Total assets	$	19,171	$	10,059	$	7,076	$	2,036
Liabilities:
Derivative liabilities	$	743	$	—	$	743	$	—

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 nine months ended September 30, 2022 and 2021:

	Nine months ended September 30,
	2022		2021
(in thousands)
Beginning Balance	$	2,036	$	2,156
Purchases and adjustments	133		77
Transfers	—		—
Distribution	(347)		(241)
Investment income	24		24
Ending Balance	$	1,846	$	2,016