Investments (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Debt Securities and Other Investments, Included on Condensed Consolidated Balance Sheet and Recorded at Fair Value

Debt Securities and Other Investments

The following debt securities and other investments were included on the Condensed Consolidated Balance Sheet and recorded at fair value:

	As of March 31, 2022
	Amortized		Gross Unrealized					Fair
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	9,299	$	1	$	(206	)	$	9,094
Municipal fixed-rate bonds		1,684		—		(37	)		1,647
Asset-backed bonds		318		—		(11	)		307
Mortgage/Agency-backed bonds		4,703		1		(142	)		4,562
U.S. government bonds		14,000		—		(446	)		13,554
Foreign government bonds		411		—		(17	)		394
Available-for-sale debt securities held at fair value	$	30,415	$	2	$	(859	)	$	29,558

	As of December 31, 2021
	Amortized		Gross Unrealized					Fair
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	10,776	$	6	$	(35	)	$	10,747
Municipal fixed-rate bonds		1,553		2		(4	)		1,551
Asset-backed bonds		322		3		(3	)		322
Mortgage/Agency-backed bonds		4,754		15		(33	)		4,736
U.S. government bonds		12,251		12		(92	)		12,171
Foreign government bonds		543		—		(4	)		539
Available-for-sale debt securities held at fair value	$	30,199	$	38	$	(171	)	$	30,066

Contractual Maturities of Debt Securities and Other Investments

The contractual maturities related to debt securities and other investments were as follows:

	As of March 31, 2022
(In thousands)	Corporate bonds		Municipal fixed-rate bonds		Asset- backed bonds		Mortgage/ Agency- backed bonds		U.S. government bonds		Foreign government bonds
Less than one year	$	295	$	269	$	—	$	1,050	$	979	$	—
One to two years		5,965		1,265		—		479		4,800		—
Two to three years		2,596		113		—		289		7,106		394
Three to five years		238		—		49		371		669		—
Five to ten years		—		—		—		915		—		—
More than ten years		—		—		258		1,458		—		—
Total	$	9,094	$	1,647	$	307	$	4,562	$	13,554	$	394

Gross Realized Gains and Losses on Sale of Debt Securities

The following table presents the gross realized gains and losses related to our debt securities:

	Three Months Ended
	March 31,
(In thousands)	2022			2021
Gross realized gain on debt securities	$	12		$	87
Gross realized loss on debt securities		(40	)		(16	)
Total (loss) gain recognized, net	$	(28	)	$	71

Realized and Unrealized Gains and Losses related to Marketable Equity Securities

Realized and unrealized gains and losses related to marketable equity securities were as follows:

	Three Months Ended
	March 31,
(In thousands)	2022			2021
Realized (loss) gain on equity securities sold	$	(25	)	$	24
Unrealized (loss) gain on equity securities held		(3,362	)		901
Total (loss) gain recognized, net	$	(3,387	)	$	925

Cash Equivalents and Investments held at Fair Value

The Company’s cash equivalents and investments held at fair value are categorized into this hierarchy as follows:

			Fair Value Measurements as of March 31, 2022 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	457	$	457	$	—	$	—
Available-for-sale debt securities
Corporate bonds		9,094		—		9,094		—
Municipal fixed-rate bonds		1,647		—		1,647		—
Asset-backed bonds		307		—		307		—
Mortgage/Agency-backed bonds		4,562		—		4,562		—
U.S. government bonds		13,554		13,554				—
Foreign government securities		394		—		394		—
Marketable equity securities
Marketable equity securities – various industries		11,143		11,143		—		—
Deferred compensation plan assets		26,081		26,081		—		—
Total	$	67,239	$	51,235	$	16,004	$	—

			Fair Value Measurements as of December 31, 2021 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	652	$	652	$	—	$	—
Available-for-sale debt securities
Corporate bonds		10,747		—		10,747		—
Municipal fixed-rate bonds		1,551		—		1,551		—
Asset-backed bonds		322		—		322		—
Mortgage/Agency-backed bonds		4,736		—		4,736		—
U.S. government bonds		12,171		12,171		—		—
Foreign government bonds		539		—		539		—
Marketable equity securities
Marketable equity securities – various industries		12,606		12,606		—		—
Deferred compensation plan assets		26,935		26,935		—		—
Total	$	70,259	$	52,364	$	17,895	$	—