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Fair Value Measures and Disclosures
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Disclosures
3. FAIR VALUE MEASUREMENT

The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs as of December 31, 2021 and 2020, as indicated (in thousands): 
 
Fair Value Measurements at December 31, 2021
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$— $— $— $— 
Equity securities, at fair value102,529 174 — 102,355 
Trading securities held in a "rabbi trust" (1)179 179 — — 
Total assets$102,708 $353 $— $102,355 
Liabilities:    
Deferred compensation accrual "rabbi trust" (2)$188 $188 $— $— 
Total liabilities$188 $188 $— $— 
 
 
Fair Value Measurements at December 31, 2020
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$— $— $— $— 
Equity securities, at fair value1,127 1,127 — — 
Trading securities held in a "rabbi trust" (1)139 139 — — 
Total assets$1,266 $1,266 $— $— 
Liabilities:    
Deferred compensation accrual "rabbi trust" (2)$148 $148 $— $— 
Total liabilities$148 $148 $— $— 
 ___________________________________________
(1)    — Trading securities held in a rabbi trust are included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets.
(2)    — Non-qualified deferred compensation in a rabbi trust is included in Accrued liabilities and Other long-term liabilities in the consolidated balance sheets.
The activity for our Level 3 investments for the year ended December 31, 2021 is as follows:

Amount
Level 3 investments at December 31, 2020
$— 
Increase due to acquisition of Level 3 investments99,723 
Increase in fair value of Level 3 investments2,632 
Level 3 investments at December 31, 2021
$102,355