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Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Available-for-sale securities Details of available-for-sale securities were as follows:
December 31, 2017
Cost

Gross
Unrealized
Gains

Gross
Unrealized
Losses

Fair Value

 
(In thousands)
Mortgage-backed securities
$
10,342

$
4

$
129

$
10,217

U.S. Treasury securities
205


1

204

Total
$
10,547

$
4

$
130

$
10,421

December 31, 2016
Cost

Gross
Unrealized
Gains

Gross
Unrealized
Losses

Fair Value

 
(In thousands)
Mortgage-backed securities
$
10,546

$
8

$
105

$
10,449

Total
$
10,546

$
8

$
105

$
10,449

Assets and liabilities measured at fair value on a recurring basis The Company's assets measured at fair value on a recurring basis were as follows:
 
Fair Value Measurements
at December 31, 2017, Using
 
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
 (Level 3)

Balance at December 31, 2017

 
(In thousands)
Assets:
 
 
 
 
Money market funds
$

$
6,965

$

$
6,965

Insurance contract*

77,388


77,388

Available-for-sale securities:
 
 
 
 
Mortgage-backed securities

10,217


10,217

U.S. Treasury securities

204


204

Total assets measured at fair value
$

$
94,774

$

$
94,774

*
The insurance contract invests approximately 49 percent in fixed-income investments, 23 percent in common stock of large-cap companies, 14 percent in common stock of mid-cap companies, 11 percent in common stock of small-cap companies, 2 percent in target date investments and 1 percent in cash equivalents.
 
 
Fair Value Measurements
at December 31, 2016, Using
 
 
Quoted Prices
in Active
Markets for
Identical
Assets
 (Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
 (Level 3)

Balance at December 31, 2016

 
(In thousands)
Assets:
 
 
 
 
Money market funds
$

$
1,602

$

$
1,602

Insurance contract*

70,921


70,921

Available-for-sale securities:
 
 
 
 
Mortgage-backed securities

10,449


10,449

Total assets measured at fair value
$

$
82,972

$

$
82,972

*
The insurance contract invests approximately 52 percent in fixed-income investments, 22 percent in common stock of large-cap companies, 13 percent in common stock of mid-cap companies, 10 percent in common stock of small-cap companies, 1 percent in target date investments and 2 percent in cash equivalents.
 
Fair value of long-term debt outstanding The estimated fair value of the Company's Level 2 long-term debt at December 31 was as follows:
 
2017
2016
 
Carrying
Amount

Fair
Value

Carrying
Amount

Fair
Value

 
(In thousands)
Long-term debt
$
1,714,853

$
1,826,256

$
1,790,159

$
1,841,885