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Fair Value (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value [Abstract]  
Fair Value, Assets Measured on Recurring Basis

The following table presents for each of the fair value hierarchy levels, our assets that are measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 (in thousands).

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

    

Quoted Prices in

    

​

​

    

​

​

    

​

​

​

​

Active Markets for

​

​

​

​

​

​

​

​

​

​

​

Identical Assets

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Other Observable

​

Unobservable

​

​

​

​

    

(Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

U.S. Treasury securities and obligations of U.S. Government

​

$

—

​

$

62,984

​

$

—

​

$

62,984

Corporate bonds

​

 

—

​

 

105,234

​

 

347

​

 

105,581

Corporate bank loans

​

 

—

​

 

81,189

​

 

—

​

 

81,189

Municipal bonds

​

 

—

​

 

38,464

​

 

—

​

 

38,464

Mortgage-backed

​

 

—

​

 

1,855

​

 

—

​

 

1,855

Total debt securities

​

 

—

​

 

289,726

​

 

347

​

 

290,073

Total equity securities

​

 

48,695

​

 

—

​

 

—

​

 

48,695

Total investments

​

$

48,695

​

$

289,726

​

$

347

​

$

338,768

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2020

​

    

Quoted Prices in

    

​

​

    

​

​

    

​

​

​

​

Active Markets for

​

​

​

​

​

​

​

​

​

​

​

Identical Assets

​

Other Observable

​

Unobservable

​

​

​

​

    

(Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

U.S. Treasury securities and obligations of U.S. Government

​

$

—

​

$

179,746

​

$

—

​

$

179,746

Corporate bonds

​

 

—

​

 

219,020

​

 

348

​

 

219,368

Corporate bank loans

​

 

—

​

 

52,782

​

 

—

​

 

52,782

Municipal bonds

​

 

—

​

 

50,539

​

 

—

​

 

50,539

Mortgage-backed

​

 

—

​

 

4,844

​

 

—

​

 

4,844

Total debt securities

​

 

—

​

 

506,931

​

 

348

​

 

507,279

Total equity securities

​

 

29,388

​

 

—

​

 

—

​

 

29,388

Total investments

​

$

29,388

​

$

506,931

​

$

348

​

$

536,667

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in fair value for all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2021 and 2020 (in thousands).

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​

​

​

​

​

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2021

    

2020

Beginning balance as of January 1

    

$

348

​

$

339

Sales

​

 

—

​

 

—

Settlements

​

 

—

​

 

—

Purchases

​

 

—

​

 

—

Issuances

​

 

—

​

 

—

Total realized/unrealized gains included in net income

​

 

—

​

 

—

Net gain included in other comprehensive income

​

 

(1)

​

 

9

Transfers into Level 3

​

 

—

​

 

—

Transfers out of Level 3

​

 

—

​

 

—

Ending balance as of December 31

​

$

347

​

$

348