Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables provide details of our financial assets measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 and the basis for those measurements:

	As of June 30, 2016
					Fair Value Measurement Using:
	Carrying Amount		Total Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Marketable securities
Municipal bonds — available for sale	$	78,919,000	$	78,919,000	$	—	$	78,919,000	$	—
Deferred compensation fund
Money Market (1)	$	3,168,000	$	3,168,000	$	—	$	—	$	—
Balanced and Lifestyle	10,098,000		10,098,000		10,098,000		—		—
Large Cap Growth	5,298,000		5,298,000		5,298,000		—		—
Small Cap Growth	2,208,000		2,208,000		2,208,000		—		—
Fixed Income	2,920,000		2,920,000		2,920,000		—		—
International	1,095,000		1,095,000		1,095,000		—		—
Mid Cap Growth	1,575,000		1,575,000		1,575,000		—		—
Deferred compensation fund	$	26,362,000	$	26,362,000	$	23,194,000	$	—	$	—

	As of December 31, 2015
					Fair Value Measurement Using:
	Carrying Amount		Total Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Marketable securities
Municipal bonds — available for sale	$	69,496,000	$	69,496,000	$	—	$	69,496,000	$	—
Deferred compensation fund
Money Market (1)	$	3,896,000	$	3,896,000	$	—	$	—	$	—
Balanced and Lifestyle	9,136,000		9,136,000		9,136,000		—		—
Large Cap Growth	5,218,000		5,218,000		5,218,000		—		—
Small Cap Growth	2,275,000		2,275,000		2,275,000		—		—
Fixed Income	2,624,000		2,624,000		2,624,000		—		—
International	1,025,000		1,025,000		1,025,000		—		—
Mid Cap Growth	1,217,000		1,217,000		1,217,000		—		—
Deferred compensation fund	$	25,391,000	$	25,391,000	$	21,495,000	$	—	$	—

⁽¹⁾  The fair value of the money market fund is based on the net asset value (“NAV”) of the shares held by the plan at the end of the period. The money market fund includes short-term United States dollar denominated money-market instruments and the NAV is determined by the custodian of the fund. The money market fund can be redeemed at its NAV at the measurement date as there are no significant restrictions on the ability to sell this investment.

Marketable Debt Securities

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Other-than-temporary Impairments
June 30, 2016
Type of security:
Municipal bonds — available for sale	$	76,230,000	$	2,692,000	$	(3,000	)	$	78,919,000	$	—
Total debt securities	$	76,230,000	$	2,692,000	$	(3,000	)	$	78,919,000	$	—
December 31, 2015
Type of security:
Municipal bonds — available for sale	$	68,640,000	$	869,000	$	(13,000	)	$	69,496,000	$	—
Total debt securities	$	68,640,000	$	869,000	$	(13,000	)	$	69,496,000	$	—

Contractual Maturities Of Available For Sale Investments

The following table summarizes the contractual maturities of debt securities held at June 30, 2016 and December 31, 2015, which are classified as marketable securities in the Consolidated Balance Sheet.

	Municipal Bonds — Available for Sale
Contractual maturity:	June 30, 2016		December 31, 2015
Maturing in one year or less	$	1,270,000	$	774,000
Maturing in second year through fifth year	16,979,000		13,852,000
Maturing in sixth year through tenth year	41,323,000		36,273,000
Maturing after ten years	19,347,000		18,597,000
Total debt securities	$	78,919,000	$	69,496,000