Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 (in thousands):

	As of March 31, 2022
	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	$	—	$	42,483	$	—	$	42,483
Corporate bonds		—		222,120		—		222,120
Corporate bank loans		—		80,018		—		80,018
Municipal bonds		—		41,889		—		41,889
Mortgage-backed		—		1,744		—		1,744
Total debt securities		—		388,254		—		388,254
Total equity securities		52,604		—		—		52,604
Total investments	$	52,604	$	388,254	$	—	$	440,858

	As of December 31, 2021
	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	$	—	$	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

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 three months ended March 31, 2022 and 2021 (in thousands):

Beginning balance as of January 1, 2022	$	347
Sales		—
Settlements		(347)
Purchases		—
Issuances		—
Total realized/unrealized losses included in net income		—
Net gain included in other comprehensive income		—
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of March 31, 2022	$	—

Beginning balance as of January 1, 2021	$	347
Sales		—
Settlements		—
Purchases		—
Issuances		—
Total realized/unrealized gains included in net loss		—
Net gains included in other comprehensive loss		7
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of March 31, 2021	$	354