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Investments (Tables)
 12 Months Ended
Dec. 31, 2021
Investments [Abstract]  
Contract Maturity of Available-for-Sale Securities

The following table summarizes the contract maturity of the available-for-sale securities we held as of December 31, 2021:

One year or less
    
51
%
After one year but within two years
    
34
%
After two years but within three and a half years
    
15
%
Total
    
100
%
Summary of Investments

The following is a summary of our investments (in thousands):

 
Amortized
    
Gross Unrealized
    
Estimated
  
December 31, 2021
  
Cost
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities (1)
  
$
383,870
    
$
728
    
$
(226
)
  
$
384,372
  
Debt securities issued by U.S. government agencies
    
48,493
      
19
      
(18
)
    
48,494
  
Debt securities issued by the U.S. Treasury (1)
    
45,424
      
—
      
(64
)
    
45,360
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
134,770
      
45
      
(37
)
    
134,778
  
Total securities with a maturity of one year or less
    
612,557
      
792
      
(345
)
    
613,004
  
Corporate debt securities
    
382,000
      
331
      
(2,644
)
    
379,687
  
Debt securities issued by U.S. government agencies
    
72,935
      
—
      
(561
)
    
72,374
  
Debt securities issued by the U.S. Treasury
    
137,635
      
139
      
(500
)
    
137,274
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
39,909
      
1
      
(224
)
    
39,686
  
Other municipal debt securities
    
6,136
      
—
      
(37
)
    
6,099
  
Total securities with a maturity of more than one year
    
638,615
      
471
      
(3,966
)
    
635,120
  
Total available-for-sale securities
  
$
1,251,172
    
$
1,263
    
$
(4,311
)
  
$
1,248,124
  
Equity securities:
                                
Total equity securities included in other current assets (2)
  
$
11,897
    
$
7,145
    
$
(837
)
  
$
18,205
  
Total equity securities included in deposits and other assets (3)
    
15,615
      
16,707
      
—
      
32,322
  
Total equity securities
  
$
27,512
    
$
23,852
    
$
(837
)
  
$
50,527
  
Total available-for-sale and equity securities
  
$
1,278,684
    
$
25,115
    
$
(5,148
)
  
$
1,298,651
  

 
Amortized
    
Gross Unrealized
    
Estimated
  
December 31, 2020
  
Cost
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities (1)
  
$
514,182
    
$
2,194
    
$
(41
)
  
$
516,335
  
Debt securities issued by U.S. government agencies
    
94,234
      
354
      
(2
)
    
94,586
  
Debt securities issued by the U.S. Treasury (1)
    
307,576
      
233
      
(9
)
    
307,800
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
104,271
      
196
      
(12
)
    
104,455
  
Other municipal debt securities
    
5,191
      
—
      
(7
)
    
5,184
  
Total securities with a maturity of one year or less
    
1,025,454
      
2,977
      
(71
)
    
1,028,360
  
Corporate debt securities
    
325,079
      
4,941
      
(40
)
    
329,980
  
Debt securities issued by U.S. government agencies
    
80,099
      
185
      
(9
)
    
80,275
  
Debt securities issued by the U.S. Treasury
    
50,318
      
383
      
(4
)
    
50,697
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
31,779
      
91
      
(16
)
    
31,854
  
Other municipal debt securities
    
1,041
      
—
      
—
      
1,041
  
Total securities with a maturity of more than one year
    
488,316
      
5,600
      
(69
)
    
493,847
  
Total available-for-sale securities
  
$
1,513,770
    
$
8,577
    
$
(140
)
  
$
1,522,207
  
Equity securities:
                                
Total equity securities included in other current assets (2)
  
$
4,712
    
$
—
    
$
(2,681
)
  
$
2,031
  
Total equity securities included in deposits and other assets (3)
    
15,062
      
15,938
      
—
      
31,000
  
Total equity securities
  
$
19,774
    
$
15,938
    
$
(2,681
)
  
$
33,031
  
Total available-for-sale and equity securities
  
$
1,533,544
    
$
24,515
    
$
(2,821
)
  
$
1,555,238
  
________________
(1)
Includes investments classified as cash equivalents on our consolidated balance sheet.

(2)
Our equity securities included in other current assets consisted of our investments in publicly traded companies. We recognize publicly traded equity securities at fair value.

(3)
Our equity securities included in deposits and other assets consisted of our investments in privately held companies. We recognize our private company equity securities at cost minus impairments, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer on our consolidated balance sheet.
Temporarily Impaired Investments

The following is a summary of our investments we considered to be temporarily impaired at December 31, 2021 (in thousands). All of these investments have less than 12 months of temporary impairment. We believe that the decline in value of these securities is temporary and is primarily related to the change in market interest rates since purchase. We believe it is more likely than not that we will be able to hold our debt securities to maturity. Therefore, we anticipate full recovery of our debt securities’ amortized cost basis at maturity.

 
Number of
Investments
    
Estimated
Fair Value
    
Unrealized
Losses
  
Corporate debt securities
    
272
    
$
552,966
    
$
(2,870
)
Debt securities issued by U.S. government agencies
    
15
      
114,338
      
(579
)
Debt securities issued by the U.S. Treasury
    
13
      
134,987
      
(564
)
Debt securities issued by states of the U.S. and political subdivisions of the states
    
425
      
126,401
      
(261
)
Other municipal debt securities
    
2
      
6,099
      
(37
)
Total temporarily impaired securities
    
727
    
$
934,791
    
$
(4,311
)