Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The table below summarizes certain asset and liability fair values that are included within our accompanying Condensed Consolidated Balance Sheets, and their designations among the three fair value measurement categories (see Note 2(x)):

	March 31, 2019 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Bank CDs	$	—	$	87	$	—	$	87
Money market funds	257,003		—		—		257,003
Equity securities (Note 7)	33,142		—		—		33,142
Equity forward-sale contract (Note 7)	793		—		—		793
Mutual funds	—		65		—		65
Deferred compensation investments (life insurance cash surrender value (Note 3(e))	—		7,270		—		7,270		*
Restricted cash	4,000		—		—		4,000
	$	294,938	$	7,422	$	—	$	302,360
Liabilities:
Deferred compensation liability (Note 9(f))	$	—	$	7,223	$	—	$	7,223	*
	$	—	$	7,223	$	—	$	7,223

	December 31, 2018 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Bank CDs	$	—	$	86	$	—	$	86
Money market funds	—		142,745		—		142,745
Equity securities (Note 7)	46,422		—		—		46,422
Mutual funds	—		78		—		78
Deferred compensation investments (life insurance cash surrender value (Note 3(e))	—		6,274		—		6,274		*
	$	46,422	$	149,183	$	—	$	195,605
Liabilities:
Deferred compensation liability (Note 9(f))	$	—	$	6,167	$	—	$	6,167	*
	$	—	$	6,167	$	—	$	6,167

* The reported amount of “deferred compensation investments” is based on the cash surrender value of employee life insurance policies at each period-end, while the reported amount of “deferred executive compensation liability” is based on the period-end market value of investments selected by employee participants of the deferred compensation plan.

We did not have any transfers between “Level 1” and “Level 2” (see Note 2(x)) measurement categories for any periods presented.

Our carrying amounts of financial instruments such as cash equivalents, prepaid expenses, accounts payable, and accrued liabilities approximate their related fair values due to their short-term nature.