Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Available-for-sale securities

Details of available-for-sale securities were as follows:

March 31, 2020	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Mortgage-backed securities	$	9,691	$	236	$	—	$	9,927
U.S. Treasury securities	1,173		12		—		1,185
Total	$	10,864	$	248	$	—	$	11,112

March 31, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Mortgage-backed securities	$	10,679	$	31	$	88	$	10,622
U.S. Treasury securities	179		—		—		179
Total	$	10,858	$	31	$	88	$	10,801

December 31, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Mortgage-backed securities	$	9,804	$	87	$	10	$	9,881
U.S. Treasury securities	1,228		1		—		1,229
Total	$	11,032	$	88	$	10	$	11,110

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 March 31, 2020, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at March 31, 2020
	(In thousands)
Assets:
Money market funds	$	—	$	8,470	$	—	$	8,470
Insurance contract*	—		83,254		—		83,254
Available-for-sale securities:
Mortgage-backed securities	—		9,927		—		9,927
U.S. Treasury securities	—		1,185		—		1,185
Total assets measured at fair value	$	—	$	102,836	$	—	$	102,836

* The insurance contract invests approximately 58 percent in fixed-income investments, 20 percent in common stock of large-cap companies, 8 percent in common stock of mid-cap companies, 8 percent in common stock of small-cap companies, 4 percent in target date investments and 2 percent in cash equivalents.

	Fair Value Measurements at March 31, 2019, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at March 31, 2019
	(In thousands)
Assets:
Money market funds	$	—	$	10,540	$	—	$	10,540
Insurance contract*	—		80,243		—		80,243
Available-for-sale securities:
Mortgage-backed securities	—		10,622		—		10,622
U.S. Treasury securities	—		179		—		179
Total assets measured at fair value	$	—	$	101,584	$	—	$	101,584

* The insurance contract invests approximately 51 percent in fixed-income investments, 22 percent in common stock of large-cap companies, 12 percent in common stock of mid-cap companies, 11 percent in common stock of small-cap companies, 3 percent in target date investments and 1 percent in cash equivalents.

	Fair Value Measurements at December 31, 2019, 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, 2019
	(In thousands)
Assets:
Money market funds	$	—	$	8,440	$	—	$	8,440
Insurance contract*	—		87,009		—		87,009
Available-for-sale securities:
Mortgage-backed securities	—		9,881		—		9,881
U.S. Treasury securities	—		1,229		—		1,229
Total assets measured at fair value	$	—	$	106,559	$	—	$	106,559

* The insurance contract invests approximately 51 percent in fixed-income investments, 23 percent in common stock of large-cap companies, 12 percent in common stock of mid-cap companies, 10 percent in common stock of small-cap companies, 3 percent in target date investments and 1 percent in cash equivalents.

Fair value of long term debt outstanding

The estimated fair value of the Company's Level 2 long-term debt was as follows:

	March 31, 2020		March 31, 2019		December 31, 2019
	(In thousands)
Carrying amount	$	2,455,235	$	2,198,027	$	2,243,107
Fair value	$	2,618,297	$	2,263,305	$	2,418,631