Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023:

			Fair Value Measurements Using:
As of March 31, 2024	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	$	20	$	20	$	—	$	—
Investments—guaranteed income fund	1,415		—		—		1,415
Investments—mutual funds and other	11,786		11,786		—		—
Total investments	13,221		11,806		—		1,415
Derivative assets	1,138		—		1,138		—
Total assets	$	14,359	$	11,806	$	1,138	$	1,415
Liabilities:
Derivative liabilities	$	74	$	—	$	74	$	—

			Fair Value Measurements Using:
As of December 31, 2023	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	1,489		—		—		1,489
Investments—mutual funds and other	10,772		10,772		—		—
Total investments	12,282		10,793		—		1,489
Derivative assets	1,067		—		1,067		—
Total assets	$	13,349	$	10,793	$	1,067	$	1,489
Liabilities:
Derivative liabilities	$	1,281	$	—	$	1,281	$	—

Summary of Changes in Fair Value of Investments

The changes in the fair value of Level 3 investments for the three months ended March 31, 2024 and 2023 were immaterial.