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Fair value measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Available-for-sale securities Details of available-for-sale securities were as follows:
June 30, 2024CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,091 $$482 $7,612 
U.S. Treasury securities3,806 54 — 3,860 
Total$11,897 $57 $482 $11,472 
June 30, 2023CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,542 $— $651 $7,891 
U.S. Treasury securities3,091 46 3,050 
Total$11,633 $$697 $10,941 
December 31, 2023CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,234 $17 $470 $7,781 
U.S. Treasury securities3,521 28 3,541 
Total$11,755 $45 $478 $11,322 
Assets and liabilities measured at fair value on a recurring basis
The Company's assets measured at fair value on a recurring basis were as follows:
 Fair Value Measurements at June 30, 2024, Using 
 Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at June 30, 2024
(In thousands)
Assets:    
Money market funds$— $10,904 $— $10,904 
Insurance contracts*— 60,952 — 60,952 
Available-for-sale securities:
Mortgage-backed securities— 7,612 — 7,612 
U.S. Treasury securities— 3,860 — 3,860 
Total assets measured at fair value$— $83,328 $— $83,328 
* The insurance contracts invest approximately 55 percent in fixed-income investments, 19 percent in common stock of large-cap companies, 10 percent in target date investments, 8 percent in common stock of mid-cap companies, 4 percent in common stock of small-cap companies, 3 percent in cash equivalents, and 1 percent in international investments.
 Fair Value Measurements at June 30, 2023, Using 
 Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at June 30, 2023
(In thousands)
Assets:    
Retained shares in Knife River
$246,063 $— $— $246,063 
Money market funds— 5,737 — 5,737 
Insurance contracts*— 84,099 — 84,099 
Available-for-sale securities:
Mortgage-backed securities— 7,891 — 7,891 
U.S. Treasury securities— 3,050 — 3,050 
Total assets measured at fair value$246,063 $100,777 $— $346,840 
* The insurance contracts invest approximately 67 percent in fixed-income investments, 14 percent in common stock of large-cap companies, 7 percent in common stock of mid-cap companies, 6 percent in common stock of small-cap companies, 4 percent in target date investments and 2 percent in cash equivalents.
 Fair Value Measurements at December 31, 2023, Using 
Quoted Prices in
Active Markets
for Identical
Assets
 (Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
 (Level 3)
Balance at December 31, 2023
(In thousands)
Assets:    
Money market funds$— $6,409 $— $6,409 
Insurance contracts*— 66,283 — 66,283 
Available-for-sale securities:
Mortgage-backed securities— 7,781 — 7,781 
U.S. Treasury securities— 3,541 — 3,541 
Total assets measured at fair value$— $84,014 $— $84,014 
* The insurance contracts invest approximately 60 percent in fixed-income investments, 15 percent in common stock of large-cap companies, 8 percent in target date investments, 7 percent in common stock of mid-cap companies, 5 percent in common stock of small-cap companies, 3 percent in cash equivalents, 1 percent in high yield investments and 1 percent in international investments.
Fair value of long term debt outstanding The estimated fair value of the Company's Level 2 long-term debt was as follows:
 June 30, 2024June 30, 2023December 31, 2023
(In thousands)
Carrying amount$2,400,617 $2,247,422 $2,298,223 
Fair value$2,087,677 $1,949,905 $2,046,039