Fair Value Measurements

12 Months Ended

Dec. 31, 2021

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 Consolidated Balance Sheets, and their designations among the three fair value measurement categories:

	December 31, 2021 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	66,322	$	—	$	—	$	66,322
Equity securities	5,718		—		—		5,718
Mutual funds	6,390		9		—		6,399
Key employee life insurance, cash surrender value(1)	—		4,507		—		4,507
	$	78,430	$	4,516	$	—	$	82,946
Liabilities:
Deferred executive compensation liability(2)	$	—	$	11,243	$	—	$	11,243
	$	—	$	11,243	$	—	$	11,243

 (1)Included within other assets on our Consolidated Balance Sheets, and the amount is based on the stated cash surrender value of life insurance policies of named current and former employees at each period-end.

(2)Included $2.0 million within accounts payable and other accrued liabilities and $9.2 million within other long-term liabilities on our Consolidated Balance Sheets.

	December 31, 2020 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Equity securities	$	24,946	$	—	$	—	$	24,946
Money market funds	40,560		—		—		40,560
Government-related debt securities	92,928		—		—		92,928
Corporate debt securities	—		8,848		—		8,848
Mutual funds	5,573		9		—		5,582
Bank CDs	—		1,721		—		1,721
Key employee life insurance, cash surrender value(1)	—		3,963		—		3,963
	$	164,007	$	14,541	$	—	$	178,548
Liabilities:
Deferred executive compensation liability(2)	$	—	$	9,783	$	—	$	9,783
	$	—	$	9,783	$	—	$	9,783

 (1)Included within other assets on our Consolidated Balance Sheets, and the amount is based on the stated cash surrender value of life insurance policies of named current and former employees at each period-end.

(2)Included $1.3 million within accounts payable and other accrued liabilities and $8.5 million within other long-term liabilities on our Consolidated Balance Sheets. The amounts are based on the period-end market value of mutual fund investments selected by employee participants of the deferred compensation plan.

We did not have any transfers between “Level 1” and “Level 2” measurement categories for any periods presented.

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